Dover Co. (NYSE:DOV) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Dover Co. (NYSE:DOV) have received an average rating of “Moderate Buy” from the eleven analysts that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $208.40.

A number of analysts recently issued reports on DOV shares. Mizuho raised their price target on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. UBS Group assumed coverage on shares of Dover in a research note on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price target for the company. Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research report on Monday, October 28th. Oppenheimer restated an “outperform” rating and set a $215.00 target price (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price target on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th.

Insider Activity at Dover

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the sale, the chief financial officer now owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. This trade represents a 54.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the transaction, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The trade was a 2.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dover

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Edgestream Partners L.P. acquired a new position in Dover during the 1st quarter valued at about $382,000. O Shaughnessy Asset Management LLC grew its position in Dover by 7.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 18,756 shares of the industrial products company’s stock worth $3,323,000 after purchasing an additional 1,299 shares during the last quarter. UniSuper Management Pty Ltd grew its position in Dover by 389.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 7,156 shares of the industrial products company’s stock worth $1,268,000 after purchasing an additional 5,693 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Dover by 1.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 108,025 shares of the industrial products company’s stock worth $19,144,000 after buying an additional 1,953 shares during the last quarter. Finally, Natixis grew its holdings in shares of Dover by 2,275.0% during the first quarter. Natixis now owns 1,425 shares of the industrial products company’s stock valued at $252,000 after buying an additional 1,365 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Trading Up 0.4 %

Shares of NYSE DOV opened at $205.63 on Tuesday. The stock has a market capitalization of $28.21 billion, a P/E ratio of 18.39, a PEG ratio of 2.75 and a beta of 1.22. Dover has a 1-year low of $137.73 and a 1-year high of $207.74. The business’s 50 day moving average is $193.70 and its two-hundred day moving average is $185.61. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s payout ratio is 18.43%.

About Dover

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.