Dover (NYSE:DOV) Upgraded by Wolfe Research to “Outperform”

Wolfe Research upgraded shares of Dover (NYSE:DOV) from a peer perform rating to an outperform rating in a report published on Monday, Marketbeat.com reports. They currently have $227.00 target price on the industrial products company’s stock.

Other research analysts have also issued reports about the company. Wells Fargo & Company upped their price target on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Robert W. Baird restated an “outperform” rating and issued a $208.00 target price on shares of Dover in a research note on Monday, July 22nd. JPMorgan Chase & Co. boosted their target price on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday. Royal Bank of Canada boosted their target price on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Finally, Mizuho boosted their target price on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and an average price target of $207.44.

Dover Stock Up 2.9 %

NYSE:DOV opened at $192.46 on Monday. The firm has a market capitalization of $26.45 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 2.20 and a beta of 1.22. Dover has a 1-year low of $127.25 and a 1-year high of $195.68. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The business’s fifty day moving average price is $187.01 and its 200 day moving average price is $182.42.

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Friday, August 30th. This is a boost from Dover’s previous quarterly dividend of $0.51. Dover’s payout ratio is currently 19.79%.

Insider Buying and Selling

In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the transaction, the senior vice president now owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the transaction, the senior vice president now owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brad M. Cerepak sold 4,341 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,274,887.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,383 shares of company stock valued at $8,169,883. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Dover

Several large investors have recently added to or reduced their stakes in DOV. Wealth Enhancement Advisory Services LLC raised its holdings in Dover by 2.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,085 shares of the industrial products company’s stock valued at $2,319,000 after acquiring an additional 274 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Dover by 1.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 379,103 shares of the industrial products company’s stock valued at $67,173,000 after acquiring an additional 3,620 shares in the last quarter. Cornerstone Wealth Management LLC raised its holdings in Dover by 2.9% in the 1st quarter. Cornerstone Wealth Management LLC now owns 24,681 shares of the industrial products company’s stock valued at $4,373,000 after acquiring an additional 704 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in Dover by 14.8% in the 1st quarter. First Trust Direct Indexing L.P. now owns 2,157 shares of the industrial products company’s stock valued at $382,000 after acquiring an additional 278 shares in the last quarter. Finally, Concord Wealth Partners raised its holdings in Dover by 48.5% in the 1st quarter. Concord Wealth Partners now owns 306 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

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.