Dover Co. (NYSE:DOV) Receives $208.40 Average Price Target from Analysts

Shares of Dover Co. (NYSE:DOV) have earned an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $208.40.

DOV has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, October 25th. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. UBS Group initiated coverage on shares of Dover in a report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 price objective for the company. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price on the stock in a report on Monday, October 28th. Finally, Barclays raised their price target on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd.

Insider Transactions at Dover

In related news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. The trade was a 54.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were 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 in the company, valued at $8,706,100. This represents a 2.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Dover

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

Dover Trading Up 2.2 %

DOV opened at $202.46 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The firm has a market cap of $27.78 billion, a P/E ratio of 18.11, a P/E/G ratio of 2.67 and a beta of 1.22. Dover has a 52 week low of $137.73 and a 52 week high of $204.93. The business has a fifty day simple moving average of $192.93 and a 200-day simple moving average of $185.27.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.515 dividend. The ex-dividend date is Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.02%. 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.