Dover Co. (NYSE:DOV) Receives $204.00 Consensus Price Target from Analysts

Dover Co. (NYSE:DOV) has been given an average rating of “Moderate Buy” by the ten ratings firms that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $205.00.

A number of equities research analysts have issued reports on the stock. Wolfe Research upgraded shares of Dover to a “hold” rating in a research report on Friday, September 20th. Robert W. Baird reiterated an “outperform” rating and set a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. Oppenheimer restated an “outperform” rating and issued a $215.00 target price (up previously from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price target on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Finally, Barclays boosted their price target on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd.

Dover Stock Up 1.2 %

NYSE:DOV opened at $186.98 on Friday. Dover has a 1-year low of $127.25 and a 1-year high of $195.68. The firm has a market capitalization of $25.70 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 2.20 and a beta of 1.22. 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 $186.80 and its 200 day moving average price is $182.28.

Dover (NYSE:DOV) last issued its earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the company earned $2.05 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts forecast that Dover will post 9.18 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.10%. 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 Transactions at Dover

In other Dover news, 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 completion of the sale, the senior vice president now directly owns 47,060 shares in the company, valued at $8,706,100. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the sale, the senior vice president now owns 47,060 shares in the company, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard J. Tobin sold 25,004 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,383 shares of company stock worth $8,169,883. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Dover

Large investors have recently added to or reduced their stakes in the company. Valmark Advisers Inc. raised its stake in shares of Dover by 1.6% in the second quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock valued at $715,000 after purchasing an additional 63 shares in the last quarter. Mather Group LLC. raised its stake in shares of Dover by 2.3% in the 2nd quarter. Mather Group LLC. now owns 3,145 shares of the industrial products company’s stock valued at $557,000 after buying an additional 71 shares in the last quarter. PFG Investments LLC lifted its holdings in shares of Dover by 3.9% during the 2nd quarter. PFG Investments LLC now owns 1,951 shares of the industrial products company’s stock worth $352,000 after acquiring an additional 74 shares during the period. Bill Few Associates Inc. boosted its position in shares of Dover by 3.6% during the 3rd quarter. Bill Few Associates Inc. now owns 2,325 shares of the industrial products company’s stock valued at $446,000 after acquiring an additional 80 shares in the last quarter. Finally, CX Institutional raised its position in Dover by 1.7% in the second quarter. CX Institutional now owns 5,095 shares of the industrial products company’s stock worth $919,000 after purchasing an additional 87 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.