Dover Corporation (NYSE:DOV) Given Consensus Rating of “Moderate Buy” by Analysts

Dover Corporation (NYSE:DOV) has been given an average recommendation of “Moderate Buy” by the fourteen research firms that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $226.5385.

Several research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Dover from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. JPMorgan Chase & Co. raised their price objective on Dover from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Barclays set a $206.00 target price on Dover in a report on Monday, February 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $224.00 target price on shares of Dover in a report on Saturday, January 31st. Finally, Robert W. Baird set a $255.00 price target on Dover in a research report on Friday, January 30th.

Dover Price Performance

Shares of NYSE DOV opened at $205.28 on Friday. Dover has a twelve month low of $143.04 and a twelve month high of $237.54. 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 firm has a 50-day moving average of $216.66 and a two-hundred day moving average of $195.56. The company has a market capitalization of $27.67 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 1.59 and a beta of 1.25.

Dover (NYSE:DOV) last announced its quarterly earnings data 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 company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the previous year, the company posted $2.20 EPS. The business’s revenue was up 8.8% compared to the same quarter last year. As a group, analysts expect that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, February 27th. Dover’s dividend payout ratio (DPR) is presently 26.20%.

Insider Transactions at Dover

In other news, VP Girish Juneja sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $230.77, for a total transaction of $346,155.00. Following the sale, the vice president owned 8,422 shares in the company, valued at $1,943,544.94. The trade was a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ivonne M. Cabrera sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total transaction of $932,920.00. Following the completion of the sale, the senior vice president owned 72,188 shares of the company’s stock, valued at approximately $16,836,407.24. This trade represents a 5.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 82,497 shares of company stock valued at $19,196,277 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Dover

Several hedge funds and other institutional investors have recently modified their holdings of the business. Brighton Jones LLC raised its position in Dover by 62.1% during the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock valued at $552,000 after buying an additional 1,128 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Dover by 4.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,377 shares of the industrial products company’s stock worth $2,526,000 after acquiring an additional 676 shares during the period. Empowered Funds LLC grew its stake in Dover by 11.8% during the 1st quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company’s stock valued at $2,636,000 after acquiring an additional 1,580 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Dover during the 2nd quarter valued at about $488,000. Finally, J.W. Cole Advisors Inc. acquired a new position in shares of Dover in the 2nd quarter valued at about $225,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

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.