Dover Co. (NYSE:DOV) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Dover Co. (NYSE:DOV) have been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $213.91.

A number of equities analysts recently commented on DOV shares. The Goldman Sachs Group boosted their target price on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays upped their price objective on Dover from $190.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Mizuho raised their target price on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a research note on Monday, October 28th. Finally, UBS Group assumed coverage on shares of Dover in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 price target on the stock.

Dover Trading Down 0.1 %

NYSE DOV opened at $201.13 on Friday. Dover has a 52 week low of $143.96 and a 52 week high of $208.26. The firm has a 50 day moving average of $197.33 and a two-hundred day moving average of $187.40. 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 stock has a market capitalization of $27.59 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 2.70 and a beta of 1.22.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s payout ratio is currently 18.43%.

Institutional Investors Weigh In On Dover

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Versor Investments LP purchased a new stake in Dover during the 3rd quarter valued at approximately $1,920,000. Brendel Financial Advisors LLC increased its holdings in shares of Dover by 347.7% in the third quarter. Brendel Financial Advisors LLC now owns 22,772 shares of the industrial products company’s stock valued at $4,366,000 after purchasing an additional 17,685 shares during the period. Empowered Funds LLC raised its stake in shares of Dover by 54.3% during the third quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock worth $2,523,000 after purchasing an additional 4,629 shares during the last quarter. National Pension Service lifted its holdings in shares of Dover by 3.0% during the third quarter. National Pension Service now owns 216,010 shares of the industrial products company’s stock worth $41,418,000 after purchasing an additional 6,241 shares during the period. Finally, Custom Index Systems LLC grew its position in Dover by 91.0% in the 3rd quarter. Custom Index Systems LLC now owns 7,791 shares of the industrial products company’s stock valued at $1,494,000 after buying an additional 3,713 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.