Dover Co. (NYSE:DOV) Receives Average Recommendation of “Hold” from Analysts

Shares of Dover Co. (NYSE:DOVGet Rating) have been given an average rating of “Hold” by the fourteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $181.46.

A number of analysts have commented on the stock. Oppenheimer upgraded shares of Dover from a “market perform” rating to an “outperform” rating and set a $205.00 price target on the stock in a research report on Friday, January 7th. Wells Fargo & Company raised Dover from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $165.00 to $184.00 in a research note on Monday, December 20th. Zacks Investment Research lowered Dover from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a report on Wednesday, March 16th. Citigroup boosted their price target on shares of Dover from $218.00 to $221.00 in a research report on Friday, January 28th. Finally, Robert W. Baird lifted their price objective on shares of Dover from $185.00 to $206.00 in a research note on Tuesday, January 4th.

In other Dover news, VP Anthony K. Kosinski sold 3,287 shares of the company’s stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $153.43, for a total value of $504,324.41. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard J. Tobin sold 31,515 shares of Dover stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $156.91, for a total value of $4,945,018.65. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Large investors have recently modified their holdings of the stock. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in Dover by 308.2% during the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 14,144 shares of the industrial products company’s stock valued at $2,199,000 after purchasing an additional 10,679 shares during the last quarter. Yousif Capital Management LLC acquired a new position in Dover during the fourth quarter valued at approximately $8,733,000. Bank of Nova Scotia grew its holdings in Dover by 20.2% during the third quarter. Bank of Nova Scotia now owns 75,326 shares of the industrial products company’s stock valued at $11,714,000 after purchasing an additional 12,635 shares during the last quarter. Selective Wealth Management Inc. acquired a new position in Dover during the fourth quarter valued at approximately $27,000. Finally, Boston Private Wealth LLC grew its holdings in Dover by 1.8% during the third quarter. Boston Private Wealth LLC now owns 17,749 shares of the industrial products company’s stock valued at $2,760,000 after purchasing an additional 307 shares during the last quarter. Hedge funds and other institutional investors own 82.30% of the company’s stock.

Shares of NYSE DOV opened at $149.41 on Thursday. Dover has a 12-month low of $137.65 and a 12-month high of $184.04. The company has a market cap of $21.52 billion, a PE ratio of 19.33, a P/E/G ratio of 1.23 and a beta of 1.40. The stock has a 50 day simple moving average of $156.70 and a 200-day simple moving average of $165.90. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72.

Dover (NYSE:DOVGet Rating) last announced its quarterly earnings results on Thursday, January 27th. The industrial products company reported $1.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.12. Dover had a return on equity of 28.99% and a net margin of 14.21%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the previous year, the firm posted $1.55 EPS. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. Sell-side analysts forecast that Dover will post 8.57 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Monday, February 28th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.34%. The ex-dividend date was Friday, February 25th. Dover’s payout ratio is 25.87%.

About Dover (Get Rating)

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides various equipment, component, software, solution, and services that are used in aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.

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Analyst Recommendations for Dover (NYSE:DOV)

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