Dover Corporation (NYSE:DOV) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Dover Corporation (NYSE:DOV) have earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $224.00.

A number of brokerages have recently commented on DOV. Robert W. Baird set a $255.00 target price on Dover in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dover in a research note on Monday, December 29th. Morgan Stanley set a $210.00 target price on Dover in a research report on Wednesday, February 4th. BNP Paribas Exane assumed coverage on Dover in a report on Thursday, December 4th. They issued a “neutral” rating and a $195.00 price target for the company. Finally, Royal Bank Of Canada raised their price objective on Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a report on Friday, January 30th.

Insider Buying and Selling at Dover

In other news, SVP Ivonne M. Cabrera sold 2,630 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $190.80, for a total transaction of $501,804.00. Following the completion of the sale, the senior vice president owned 72,968 shares of the company’s stock, valued at $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 is available at this link. 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 transaction of $302,687.08. Following the transaction, the chief financial officer owned 2,553 shares of the company’s stock, valued at approximately $474,960.12. This trade represents a 38.92% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dover

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Dover by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 16,733,000 shares of the industrial products company’s stock worth $3,266,951,000 after purchasing an additional 120,341 shares in the last quarter. State Street Corp boosted its stake in Dover by 1.3% during the third quarter. State Street Corp now owns 6,533,361 shares of the industrial products company’s stock worth $1,089,961,000 after buying an additional 86,212 shares during the last quarter. Geode Capital Management LLC boosted its stake in Dover by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,519,070 shares of the industrial products company’s stock worth $684,348,000 after buying an additional 30,372 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Dover by 174.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,880,653 shares of the industrial products company’s stock valued at $562,419,000 after buying an additional 1,830,722 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of Dover by 10.6% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,376,279 shares of the industrial products company’s stock worth $435,406,000 after acquiring an additional 227,653 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Price Performance

Shares of NYSE:DOV opened at $233.13 on Thursday. Dover has a twelve month low of $143.04 and a twelve month high of $233.88. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. The company has a market cap of $31.97 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 1.76 and a beta of 1.29. The company’s 50 day moving average is $203.70 and its 200 day moving average is $185.78.

Dover (NYSE:DOV) last issued its earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.03. Dover had a net margin of 13.52% and a return on equity of 17.87%. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter last year, the company posted $2.20 earnings per share. The firm’s revenue was up 8.8% compared to the same quarter last year. On average, sell-side analysts forecast that Dover will post 9.45 EPS for the current year.

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.