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

Dover Corporation (NYSE:DOV) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $224.00.

A number of analysts recently commented on the company. BNP Paribas Exane assumed coverage on Dover in a research note on Thursday, December 4th. They issued a “neutral” rating and a $195.00 price target for the company. Wall Street Zen upgraded shares of Dover from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Morgan Stanley set a $210.00 target price on shares of Dover in a research report on Wednesday, February 4th. Wells Fargo & Company boosted their price target on shares of Dover from $205.00 to $210.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $224.00 price target on shares of Dover in a research note on Saturday, January 31st.

Dover Stock Down 3.3%

NYSE DOV opened at $208.51 on Monday. Dover has a 1 year low of $143.04 and a 1 year high of $237.54. The stock has a market capitalization of $28.12 billion, a PE ratio of 26.26, a PEG ratio of 1.60 and a beta of 1.26. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.79 and a quick ratio of 1.28. The business’s 50-day moving average is $213.98 and its 200 day moving average is $191.65.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. Dover had a return on equity of 17.87% and a net margin of 13.52%.The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the company earned $2.20 EPS. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. Sell-side analysts forecast that Dover will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. Dover’s dividend payout ratio is currently 26.20%.

Insider Activity

In other news, SVP Ivonne M. Cabrera sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total value of $932,920.00. Following the completion of the transaction, the senior vice president owned 72,188 shares in the company, valued at $16,836,407.24. This trade represents a 5.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Girish Juneja sold 1,500 shares of Dover stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $230.77, for a total value of $346,155.00. Following the sale, the vice president owned 8,422 shares in the company, valued at $1,943,544.94. This represents a 15.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 82,497 shares of company stock worth $19,196,277 in the last quarter. 1.20% of the stock is owned by company insiders.

Institutional Trading of Dover

A number of hedge funds and other institutional investors have recently modified their holdings of DOV. Vanguard Group Inc. lifted its position in Dover by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 16,733,000 shares of the industrial products company’s stock valued at $3,266,951,000 after acquiring an additional 120,341 shares during the period. State Street Corp increased its stake in shares of Dover by 3.5% during the fourth quarter. State Street Corp now owns 6,760,797 shares of the industrial products company’s stock valued at $1,319,978,000 after purchasing an additional 227,436 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Dover by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,519,070 shares of the industrial products company’s stock valued at $684,348,000 after purchasing an additional 30,372 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Dover by 174.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,880,653 shares of the industrial products company’s stock valued at $562,419,000 after purchasing an additional 1,830,722 shares during the last quarter. Finally, Nuveen LLC boosted its position in shares of Dover by 9.9% in the 4th quarter. Nuveen LLC now owns 2,623,281 shares of the industrial products company’s stock worth $512,169,000 after purchasing an additional 235,454 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.