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

Shares of Dover Co. (NYSE:DOV) have received an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $208.40.

DOV has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a report on Monday, October 28th. JPMorgan Chase & Co. lifted their target price on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Mizuho lifted their target price on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada lifted their target price on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th.

Insider Buying and Selling

In related news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction on Wednesday, August 21st. The stock was 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 directly owns 182,928 shares in the company, valued at approximately $33,285,578.88. The trade was a 12.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Ivonne M. Cabrera sold 1,220 shares of Dover 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 transaction, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. This trade represents a 2.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,042 shares of company stock valued at $7,368,578 over the last 90 days. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Dover

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Independent Advisor Alliance lifted its position in Dover by 0.3% during the third quarter. Independent Advisor Alliance now owns 18,036 shares of the industrial products company’s stock valued at $3,458,000 after purchasing an additional 58 shares in the last quarter. Main Street Financial Solutions LLC lifted its position in shares of Dover by 2.7% in the third quarter. Main Street Financial Solutions LLC now owns 2,255 shares of the industrial products company’s stock valued at $432,000 after acquiring an additional 60 shares in the last quarter. Valmark Advisers Inc. lifted its position 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 acquiring an additional 63 shares in the last quarter. Mather Group LLC. lifted its position in shares of Dover by 2.3% in the second quarter. Mather Group LLC. now owns 3,145 shares of the industrial products company’s stock valued at $557,000 after acquiring an additional 71 shares in the last quarter. Finally, Empower Advisory Group LLC lifted its position in shares of Dover by 3.7% in the third quarter. Empower Advisory Group LLC now owns 2,030 shares of the industrial products company’s stock valued at $389,000 after acquiring an additional 73 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Down 0.3 %

DOV stock opened at $200.53 on Tuesday. Dover has a twelve month low of $136.50 and a twelve month high of $204.93. 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 $27.51 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 2.70 and a beta of 1.22. The business has a 50 day moving average of $191.96 and a 200 day moving average of $184.92.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, November 29th. Dover’s payout ratio is currently 18.43%.

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.