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

Shares of Dover Corporation (NYSE:DOV) have earned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $211.5455.

Several equities analysts have recently issued reports on DOV shares. Citigroup reaffirmed a “buy” rating and issued a $226.00 target price (up from $202.00) on shares of Dover in a report on Monday, July 14th. Barclays increased their price objective on Dover from $190.00 to $195.00 and gave the company an “equal weight” rating in a report on Friday, October 24th. Morgan Stanley increased their target price on Dover from $185.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Weiss Ratings downgraded Dover from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. Finally, Wells Fargo & Company increased their price objective on Dover from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, October 24th.

Institutional Investors Weigh In On Dover

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Dover by 1.4% during the second quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company’s stock valued at $3,036,722,000 after purchasing an additional 231,146 shares in the last quarter. State Street Corp grew its stake in shares of Dover by 2.7% during the second quarter. State Street Corp now owns 6,447,149 shares of the industrial products company’s stock valued at $1,181,311,000 after buying an additional 171,934 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Dover by 1.0% in the second quarter. Geode Capital Management LLC now owns 3,453,121 shares of the industrial products company’s stock worth $629,996,000 after buying an additional 33,539 shares during the period. Nuveen LLC bought a new stake in shares of Dover in the 1st quarter valued at about $526,081,000. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in Dover by 10.6% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,376,279 shares of the industrial products company’s stock valued at $435,406,000 after acquiring an additional 227,653 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of Dover stock opened at $178.16 on Tuesday. The company has a market cap of $24.44 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. Dover has a 52 week low of $143.04 and a 52 week high of $222.31. The business has a 50 day moving average price of $172.17 and a 200-day moving average price of $176.92. The company has a quick ratio of 1.44, a current ratio of 2.04 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. The firm had revenue of $1.78 billion during the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%. Equities analysts anticipate that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 29th. This is a positive change from Dover’s previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. Dover’s dividend payout ratio (DPR) is 12.79%.

Dover Company Profile

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.