Dover (NYSE:DOV) Reaches New 52-Week High at $192.87

Dover Co. (NYSE:DOV)’s share price hit a new 52-week high on Tuesday . The company traded as high as $192.87 and last traded at $191.92, with a volume of 21744 shares changing hands. The stock had previously closed at $191.03.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on DOV shares. Robert W. Baird reaffirmed an “outperform” rating and issued a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. Wolfe Research raised Dover to a “hold” rating in a report on Friday. Mizuho increased their target price on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada upped their price target on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.63.

Dover Trading Up 0.7 %

The stock has a 50-day moving average price of $181.95 and a two-hundred day moving average price of $179.71. The stock has a market capitalization of $26.45 billion, a PE ratio of 18.35, a PEG ratio of 2.17 and a beta of 1.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.05 earnings per share. As a group, equities analysts forecast that Dover Co. will post 9.17 earnings per share for the current year.

Dover Increases Dividend

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

Insider Activity

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the completion of the transaction, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Brad M. Cerepak sold 4,341 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total value of $801,305.19. Following the completion of the transaction, the chief financial officer now owns 12,324 shares of the company’s stock, valued at approximately $2,274,887.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the completion of the transaction, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The disclosure for this sale can be found here. Insiders have sold a total of 45,383 shares of company stock worth $8,169,883 over the last quarter. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Dover

Several institutional investors have recently modified their holdings of DOV. Price T Rowe Associates Inc. MD boosted its holdings in Dover by 153.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock valued at $466,622,000 after acquiring an additional 1,595,611 shares during the period. American Century Companies Inc. lifted its holdings in Dover by 162.2% during the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock worth $124,195,000 after buying an additional 425,768 shares during the period. Wellington Management Group LLP boosted its position in Dover by 50.7% during the 4th quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock valued at $189,433,000 after acquiring an additional 414,481 shares in the last quarter. Interval Partners LP boosted its position in Dover by 110.0% during the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock valued at $105,216,000 after purchasing an additional 305,436 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new stake in shares of Dover in the 2nd quarter valued at about $17,323,000. 84.46% of the stock is owned by institutional investors.

Dover Company Profile

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.