Dover Co. (NYSE:DOV) Given Average Recommendation of “Moderate Buy” by Brokerages

Dover Co. (NYSE:DOV) has earned an average rating of “Moderate Buy” from the ten brokerages that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $207.44.

Several research firms have weighed in on DOV. Wells Fargo & Company upped their price objective on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Mizuho lifted their price objective on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. upped their target price on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Royal Bank of Canada boosted their price target 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, Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a research note on Monday.

Insiders Place Their Bets

In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the sale, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the transaction, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at $8,706,100. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,042 shares of company stock valued at $7,368,578 in the last quarter. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Dover

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. LRI Investments LLC bought a new stake in shares of Dover during the first quarter valued at approximately $28,000. McClarren Financial Advisors Inc. increased its holdings in Dover by 4,400.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after buying an additional 176 shares during the period. Fairscale Capital LLC acquired a new position in shares of Dover in the 2nd quarter valued at $34,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Dover during the 2nd quarter worth about $41,000. Finally, Transcendent Capital Group LLC increased its stake in Dover by 208.0% in the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 156 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Dover Trading Down 0.3 %

NYSE:DOV opened at $191.84 on Friday. The stock’s 50-day moving average is $187.25 and its two-hundred day moving average is $182.56. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. The stock has a market cap of $26.36 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 2.20 and a beta of 1.22. Dover has a fifty-two week low of $127.25 and a fifty-two week high of $195.68.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $0.515 dividend. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a yield of 1.07%. Dover’s dividend payout ratio (DPR) is presently 19.79%.

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.