Dover (NYSE:DOV) Upgraded at BNP Paribas

BNP Paribas upgraded shares of Dover (NYSE:DOV) to a hold rating in a research note issued to investors on Thursday morning,Zacks.com reports.

Several other research firms have also recently weighed in on DOV. Morgan Stanley boosted their price objective on Dover from $185.00 to $195.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. Robert W. Baird set a $235.00 price target on shares of Dover in a research note on Friday, October 24th. JPMorgan Chase & Co. upped their price target on shares of Dover from $217.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Wells Fargo & Company increased their price objective on shares of Dover from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, October 24th. Finally, Barclays boosted their price objective on shares of Dover from $190.00 to $195.00 and gave the company an “equal weight” rating in a research report on Friday, October 24th. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $210.83.

Dover Price Performance

Shares of DOV stock opened at $190.93 on Thursday. 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 has a 12-month low of $143.04 and a 12-month high of $222.31. The firm has a fifty day moving average of $176.45 and a 200-day moving average of $178.49. The firm has a market capitalization of $26.19 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31.

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

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. Dover’s dividend payout ratio (DPR) is 12.79%.

Insider Buying and Selling at Dover

In other news, SVP Ivonne M. Cabrera sold 2,630 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $190.80, for a total value of $501,804.00. Following the completion of the transaction, the senior vice president owned 72,968 shares in the company, valued at $13,922,294.40. This trade represents a 3.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $302,687.08. Following the sale, the chief financial officer owned 2,553 shares in the company, valued at $474,960.12. The trade was a 38.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Financial Life Planners acquired a new stake in shares of Dover during the 3rd quarter valued at $25,000. AdvisorShares Investments LLC acquired a new position in Dover in the 2nd quarter worth about $30,000. Vermillion & White Wealth Management Group LLC raised its position in Dover by 122.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 93 shares during the last quarter. Caldwell Trust Co acquired a new stake in shares of Dover during the second quarter valued at about $31,000. Finally, Harbour Investments Inc. grew its holdings in shares of Dover by 51.7% during the second quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 60 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

About Dover

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.