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

Shares of Dover Corporation (NYSE:DOV) have received an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $226.5385.

Several brokerages recently weighed in on DOV. Oppenheimer lifted their price objective on shares of Dover from $228.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. JPMorgan Chase & Co. raised their price target on shares of Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Wall Street Zen raised Dover from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Robert W. Baird set a $255.00 price objective on Dover in a report on Friday, January 30th. Finally, Royal Bank Of Canada raised their target price on Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th.

Dover Price Performance

Shares of DOV opened at $205.28 on Friday. Dover has a 12 month low of $143.04 and a 12 month high of $237.54. 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 stock has a fifty day moving average price of $216.66 and a 200 day moving average price of $195.56. The company has a market cap of $27.67 billion, a P/E ratio of 25.85, a PEG ratio of 1.59 and a beta of 1.25.

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

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, February 27th. Dover’s dividend payout ratio (DPR) is 26.20%.

Insider Activity at Dover

In related news, VP Girish Juneja sold 1,500 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $230.77, for a total value of $346,155.00. Following the completion of the transaction, the vice president owned 8,422 shares in the company, valued at $1,943,544.94. This represents a 15.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Richard J. Tobin sold 76,997 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the transaction, the chief executive officer directly owned 217,979 shares in the company, valued at approximately $50,723,713.30. The trade was a 26.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 82,497 shares of company stock worth $19,196,277 over the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. lifted its position in Dover by 6.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 114,911 shares of the industrial products company’s stock worth $22,435,000 after purchasing an additional 7,315 shares during the period. World Investment Advisors increased its position in shares of Dover by 21.4% during the 4th quarter. World Investment Advisors now owns 4,238 shares of the industrial products company’s stock valued at $828,000 after purchasing an additional 747 shares during the period. Winthrop Partners WNY LLC acquired a new position in shares of Dover during the 4th quarter valued at $230,000. Auto Owners Insurance Co raised its stake in shares of Dover by 19,424.0% in the 4th quarter. Auto Owners Insurance Co now owns 761,436 shares of the industrial products company’s stock worth $14,866,000 after buying an additional 757,536 shares in the last quarter. Finally, Rehmann Capital Advisory Group lifted its holdings in shares of Dover by 4.8% in the fourth quarter. Rehmann Capital Advisory Group now owns 9,131 shares of the industrial products company’s stock valued at $1,784,000 after buying an additional 415 shares during the period. 84.46% of the stock is currently owned by institutional investors.

About Dover

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.