Dover (NYSE:DOV) Upgraded at UBS Group

UBS Group upgraded shares of Dover (NYSE:DOV) from a hold rating to a buy rating in a research note issued to investors on Sunday morning, Marketbeat.com reports. The brokerage currently has $256.00 target price on the industrial products company’s stock, up from their previous target price of $200.00.

A number of other research analysts have also commented on the company. Oppenheimer upped their price target on Dover from $225.00 to $228.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. Wells Fargo & Company restated a “positive” rating on shares of Dover in a research report on Monday, December 15th. Robert W. Baird set a $235.00 price objective on shares of Dover in a report on Friday, October 24th. Royal Bank Of Canada increased their target price on shares of Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a research note on Friday, October 24th. Finally, Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and an average target price of $215.73.

Dover Price Performance

Shares of Dover stock opened at $203.44 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $189.50 and a 200-day simple moving average of $181.53. The stock has a market capitalization of $27.90 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.41 and a beta of 1.31. Dover has a 1-year low of $143.04 and a 1-year high of $222.31.

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

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, November 28th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. Dover’s dividend payout ratio (DPR) is currently 12.79%.

Insider Activity at Dover

In related news, CFO Christopher B. Woenker sold 1,627 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $474,960.12. The trade was a 38.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total value of $501,804.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Dover

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ransom Advisory Ltd increased its position in shares of Dover by 103.0% during the 4th quarter. Ransom Advisory Ltd now owns 609 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 309 shares in the last quarter. Davis Investment Partners LLC acquired a new stake in shares of Dover during the fourth quarter worth approximately $211,000. Trust Co of the South bought a new position in shares of Dover in the fourth quarter valued at approximately $294,000. GAMMA Investing LLC raised its stake in shares of Dover by 2.3% in the fourth quarter. GAMMA Investing LLC now owns 4,539 shares of the industrial products company’s stock valued at $886,000 after acquiring an additional 104 shares during the last quarter. Finally, CTC Alternative Strategies Ltd. acquired a new position in shares of Dover in the 3rd quarter worth approximately $567,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Company Profile

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.