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

Dover Co. (NYSE:DOV) has been assigned an average recommendation of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $192.63.

A number of equities analysts have recently issued reports on DOV shares. Wells Fargo & Company upped their price objective on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Oppenheimer boosted their price objective on shares of Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Barclays lifted their target price on shares of Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Finally, Robert W. Baird restated an “outperform” rating and set a $208.00 price target on shares of Dover in a research report on Monday, July 22nd.

Dover Stock Up 0.5 %

DOV stock opened at $179.83 on Friday. The company’s 50 day moving average is $180.09 and its 200 day moving average is $175.79. The stock has a market cap of $24.71 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 2.13 and a beta of 1.22. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. 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 results 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. Dover had a net margin of 17.58% and a return on equity of 24.94%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Sell-side analysts predict that Dover will post 9.15 EPS for the current fiscal year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Friday, August 30th. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s payout ratio is currently 19.79%.

Insider Transactions at Dover

In related news, 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 transaction of $801,305.19. Following the completion of the transaction, the chief financial officer now owns 12,324 shares in the company, valued at $2,274,887.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Dover

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BSW Wealth Partners grew its holdings in shares of Dover by 1.2% during the 1st quarter. BSW Wealth Partners now owns 4,930 shares of the industrial products company’s stock worth $874,000 after acquiring an additional 59 shares during the period. Summit Trail Advisors LLC raised its holdings in Dover by 2.6% in the first quarter. Summit Trail Advisors LLC now owns 2,333 shares of the industrial products company’s stock worth $413,000 after purchasing an additional 60 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in Dover by 5.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,213 shares of the industrial products company’s stock valued at $215,000 after buying an additional 62 shares during the period. Legacy Financial Advisors Inc. boosted its holdings in shares of Dover by 1.7% during the 4th quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock valued at $577,000 after buying an additional 63 shares in the last quarter. Finally, Valmark Advisers Inc. grew its position in shares of Dover by 1.6% in the 2nd quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock worth $715,000 after buying an additional 63 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

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.