Dover (NYSE:DOV) Upgraded to “Strong-Buy” at UBS Group

UBS Group upgraded shares of Dover (NYSE:DOV) from a hold rating to a strong-buy rating in a research note released on Sunday, Marketbeat.com reports. The brokerage currently has $256.00 price target on the industrial products company’s stock, up from their prior price target of $200.00.

Other research analysts have also issued reports about the stock. Robert W. Baird set a $235.00 price target on shares of Dover in a research note on Friday, October 24th. JPMorgan Chase & Co. raised their target price on shares of Dover from $217.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Oppenheimer lifted their target price on shares of Dover from $225.00 to $228.00 and gave the company an “outperform” rating in a report on Friday, November 14th. BNP Paribas initiated coverage on Dover in a research note on Thursday, December 4th. They issued a “neutral” rating and a $195.00 price target on the stock. Finally, Royal Bank Of Canada lifted their price objective on Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a research note on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $215.73.

Dover Stock Up 3.5%

Shares of NYSE:DOV opened at $202.51 on Friday. The firm has a market capitalization of $27.77 billion, a P/E ratio of 12.45, a P/E/G ratio of 1.36 and a beta of 1.31. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.44 and a current ratio of 2.04. The stock has a 50 day moving average price of $189.03 and a 200-day moving average price of $181.32. Dover has a 52-week low of $143.04 and a 52-week high of $222.31.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. The company had revenue of $1.78 billion for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%. As a group, equities research analysts anticipate that Dover will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. Dover’s dividend payout ratio (DPR) is presently 12.79%.

Insider Buying and Selling at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 2,630 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $190.80, for a total transaction of $501,804.00. Following the transaction, the senior vice president owned 72,968 shares in the company, valued at approximately $13,922,294.40. This represents a 3.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christopher B. Woenker sold 1,627 shares of Dover stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $186.04, for a total transaction of $302,687.08. Following the completion of the sale, the chief financial officer owned 2,553 shares of the company’s stock, valued at $474,960.12. This represents a 38.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Dover

Several institutional investors and hedge funds have recently added to or reduced their stakes in DOV. Financial Life Planners bought a new position in shares of Dover during the 3rd quarter valued at $25,000. AdvisorShares Investments LLC bought a new position in Dover in the second quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC boosted its position in Dover by 122.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 93 shares during the last quarter. Caldwell Trust Co bought a new stake in shares of Dover during the 2nd quarter valued at about $31,000. Finally, Harbour Investments Inc. increased its position in shares of Dover by 51.7% during the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

About Dover

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.