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

Dover Corporation (NYSE:DOV) has been given an average recommendation of “Moderate Buy” by the twelve analysts that are currently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $210.6364.

A number of research firms recently weighed in on DOV. UBS Group set a $200.00 price objective on shares of Dover in a research report on Friday, October 24th. Barclays lifted their target price on shares of Dover from $190.00 to $195.00 and gave the company an “equal weight” rating in a report on Friday, October 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dover in a research note on Monday. Royal Bank Of Canada increased their price target on shares of Dover from $183.00 to $198.00 and gave the stock a “sector perform” rating in a report on Friday, October 24th. Finally, Morgan Stanley lifted their price objective on Dover from $185.00 to $195.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th.

Insider Buying and Selling at Dover

In other news, SVP Ivonne M. Cabrera sold 2,630 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total transaction of $501,804.00. Following the transaction, the senior vice president directly owned 72,968 shares of the company’s stock, valued at $13,922,294.40. This represents a 3.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christopher B. Woenker sold 1,627 shares of the firm’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $186.04, for a total transaction of $302,687.08. Following the completion of the sale, the chief financial officer owned 2,553 shares of the company’s stock, valued at $474,960.12. This trade represents a 38.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. CTC Alternative Strategies Ltd. purchased a new stake in shares of Dover during the 3rd quarter worth approximately $567,000. Allworth Financial LP raised its holdings in Dover by 27.3% during the third quarter. Allworth Financial LP now owns 4,109 shares of the industrial products company’s stock worth $686,000 after purchasing an additional 881 shares during the last quarter. Swiss Life Asset Management Ltd boosted its position in Dover by 162.9% during the third quarter. Swiss Life Asset Management Ltd now owns 57,682 shares of the industrial products company’s stock worth $9,623,000 after purchasing an additional 35,745 shares in the last quarter. Groupama Asset Managment grew its holdings in Dover by 16.3% in the third quarter. Groupama Asset Managment now owns 10,415 shares of the industrial products company’s stock valued at $1,738,000 after purchasing an additional 1,458 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in Dover by 3.7% in the third quarter. CIBC Private Wealth Group LLC now owns 22,757 shares of the industrial products company’s stock valued at $3,797,000 after purchasing an additional 807 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Performance

Shares of DOV stock opened at $199.92 on Wednesday. The stock’s 50-day moving average price is $184.17 and its 200 day moving average price is $180.04. The company has a quick ratio of 1.44, a current ratio of 2.04 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $27.42 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.53 and a beta of 1.31. Dover has a 52-week low of $143.04 and a 52-week high of $222.31.

Dover (NYSE:DOV) last announced its earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. The company had revenue of $1.78 billion for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%. As a group, equities research analysts forecast that Dover will post 9.45 EPS for the current year.

Dover Announces Dividend

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

About Dover

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.