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

Shares of Dover Corporation (NYSE:DOV) have earned an average rating of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $218.0909.

DOV has been the topic of several research analyst reports. Morgan Stanley raised their target price on Dover from $185.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Royal Bank Of Canada reissued a “sector perform” rating and set a $199.00 price target on shares of Dover in a report on Thursday, January 15th. Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Robert W. Baird set a $235.00 price target on Dover in a report on Friday, October 24th. Finally, Barclays boosted their price objective on shares of Dover from $195.00 to $205.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 7th.

Insider Buying and Selling at Dover

In related news, SVP Ivonne M. Cabrera sold 2,630 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total value of $501,804.00. Following the completion of the sale, the senior vice president directly owned 72,968 shares in the company, valued at approximately $13,922,294.40. The trade was a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher B. Woenker sold 1,627 shares of the company’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $186.04, for a total value of $302,687.08. Following the sale, the chief financial officer owned 2,553 shares of the company’s stock, valued at $474,960.12. This represents a 38.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its stake in Dover by 996.6% during the fourth quarter. Farther Finance Advisors LLC now owns 9,738 shares of the industrial products company’s stock worth $1,901,000 after acquiring an additional 8,850 shares during the period. Sage Mountain Advisors LLC acquired a new stake in Dover in the fourth quarter worth approximately $249,000. Transcend Capital Advisors LLC bought a new position in Dover during the fourth quarter valued at about $244,000. Tectonic Advisors LLC grew its stake in shares of Dover by 1.7% in the 4th quarter. Tectonic Advisors LLC now owns 3,176 shares of the industrial products company’s stock worth $620,000 after purchasing an additional 54 shares during the last quarter. Finally, Burney Co. grew its position in Dover by 3.1% in the fourth quarter. Burney Co. now owns 20,879 shares of the industrial products company’s stock worth $4,076,000 after buying an additional 624 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Dover Price Performance

Shares of DOV opened at $206.81 on Friday. The stock has a market cap of $28.36 billion, a PE ratio of 12.72, a P/E/G ratio of 1.44 and a beta of 1.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44. Dover has a 1-year low of $143.04 and a 1-year high of $222.31. The firm has a 50-day simple moving average of $195.68 and a two-hundred day simple moving average of $183.39.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, October 23rd. The industrial products company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.50 by $0.12. Dover had a net margin of 28.37% and a return on equity of 17.62%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter last year, the firm posted $2.27 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, analysts forecast that Dover will post 9.45 EPS for the current year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $2.08 annualized dividend and a yield of 1.0%. Dover’s payout ratio is presently 12.79%.

Dover Company Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.