Dover Co. (NYSE:DOV) Receives Average Recommendation of “Moderate Buy” from Analysts

Dover Co. (NYSE:DOV) has earned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $192.63.

Several analysts recently issued reports on the company. 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. Robert W. Baird restated an “outperform” rating and issued a $208.00 price target on shares of Dover in a research note on Monday, July 22nd. Mizuho increased their price target on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Wolfe Research upgraded Dover to a “hold” rating in a report on Friday, September 20th.

Insider Buying and Selling

In related news, CFO Brad M. Cerepak sold 14,818 shares of the company’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 transaction, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the sale, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the completion of the sale, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,274,887.16. The disclosure for this sale can be found here. Insiders have sold a total of 45,383 shares of company stock valued at $8,169,883 over the last three months. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in Dover by 153.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after acquiring an additional 1,595,611 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Dover by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock valued at $271,702,000 after buying an additional 60,912 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Dover by 50.7% in the fourth quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock worth $189,433,000 after buying an additional 414,481 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Dover by 162.2% in the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock valued at $124,195,000 after purchasing an additional 425,768 shares during the period. Finally, Interval Partners LP increased its holdings in Dover by 110.0% in the 2nd quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock worth $105,216,000 after buying an additional 305,436 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Down 0.1 %

Shares of Dover stock opened at $192.78 on Monday. The company has a market capitalization of $26.49 billion, a P/E ratio of 18.52, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. 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 business has a 50-day moving average of $182.29 and a two-hundred day moving average of $180.23. Dover has a 1 year low of $127.25 and a 1 year high of $194.75.

Dover (NYSE:DOV) last posted its quarterly earnings data 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 company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.05 EPS. As a group, equities analysts predict that Dover will post 9.17 EPS 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 issued a dividend of $0.515 per share. The ex-dividend date was Friday, August 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.07%. This is a positive change from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio (DPR) is currently 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.