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

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

Analyst Ratings Changes

Several research analysts have commented on DOV shares. Wolfe Research raised shares of Dover to a “hold” rating in a research note on Friday, September 20th. Mizuho upped their price target on shares of Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Robert W. Baird reiterated an “outperform” rating and issued a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. Finally, Royal Bank of Canada increased their target price on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $192.63.

Dover Stock Performance

The business’s 50 day simple moving average is $181.98 and its two-hundred day simple moving average is $179.93. The firm has a market capitalization of $26.14 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 2.27 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.

Dover (NYSE:DOV) last posted its earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.05 EPS. Sell-side analysts anticipate that Dover Co. will post 9.17 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.515 dividend. The ex-dividend date was Friday, August 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.08%. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio (DPR) is 19.79%.

Insider Activity at Dover

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 182,928 shares in the company, valued at approximately $33,285,578.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Ivonne M. Cabrera sold 1,220 shares of Dover 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 completion of the transaction, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard J. Tobin sold 25,004 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total value of $4,549,727.84. Following the sale, the chief executive officer now owns 182,928 shares in the company, valued at $33,285,578.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,383 shares of company stock worth $8,169,883. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dover

Several large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its stake in Dover by 27.4% during the first quarter. BNP Paribas Financial Markets now owns 166,211 shares of the industrial products company’s stock worth $29,451,000 after buying an additional 35,750 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Dover by 14.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 202,659 shares of the industrial products company’s stock valued at $35,909,000 after purchasing an additional 25,562 shares during the last quarter. Hsbc Holdings PLC raised its position in Dover by 14.2% in the 4th quarter. Hsbc Holdings PLC now owns 281,912 shares of the industrial products company’s stock worth $43,330,000 after purchasing an additional 35,109 shares during the period. SG Americas Securities LLC lifted its stake in Dover by 75.1% in the first quarter. SG Americas Securities LLC now owns 19,972 shares of the industrial products company’s stock worth $3,539,000 after purchasing an additional 8,563 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of Dover by 975.5% during the first quarter. Cetera Investment Advisers now owns 24,886 shares of the industrial products company’s stock valued at $4,410,000 after buying an additional 22,572 shares during the period. Institutional investors 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.