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

Dover Co. (NYSE:DOV) has earned an average rating of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $185.75.

Several research firms have issued reports on DOV. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Mizuho lifted their target price on shares of Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Barclays increased their price target on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Citigroup lifted their price objective on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company increased their target price on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th.

Hedge Funds Weigh In On Dover

Several hedge funds and other institutional investors have recently modified their holdings of DOV. First Citizens Bank & Trust Co. raised its holdings in Dover by 6.5% in the second quarter. First Citizens Bank & Trust Co. now owns 4,456 shares of the industrial products company’s stock valued at $804,000 after buying an additional 270 shares during the period. MBL Wealth LLC purchased a new position in shares of Dover in the 2nd quarter valued at $207,000. Blue Trust Inc. lifted its holdings in shares of Dover by 33.2% during the 2nd quarter. Blue Trust Inc. now owns 2,044 shares of the industrial products company’s stock valued at $362,000 after acquiring an additional 509 shares in the last quarter. Clear Harbor Asset Management LLC boosted its position in Dover by 0.7% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 36,008 shares of the industrial products company’s stock worth $6,498,000 after purchasing an additional 258 shares during the period. Finally, Baader Bank Aktiengesellschaft acquired a new stake in Dover in the 2nd quarter valued at $361,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Trading Down 1.4 %

Shares of Dover stock opened at $183.70 on Wednesday. The business has a 50 day moving average price of $181.73 and a 200 day moving average price of $171.66. The company has a market capitalization of $25.25 billion, a P/E ratio of 17.65, a P/E/G ratio of 2.23 and a beta of 1.22. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.89. Dover has a 1 year low of $127.25 and a 1 year high of $192.31.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.07. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.03 billion. Dover had a return on equity of 25.04% and a net margin of 17.28%. The business’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business earned $1.94 earnings per share. Sell-side analysts anticipate that Dover will post 9.1 EPS for the current fiscal year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $2.04 annualized dividend and a yield of 1.11%. Dover’s dividend payout ratio is presently 19.60%.

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.