Dover Corp (NYSE:DOV) has earned a consensus recommendation of “Hold” from the sixteen research firms that are covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $98.76.
A number of research firms recently weighed in on DOV. Barclays raised their target price on shares of Dover from $111.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Zacks Investment Research raised shares of Dover from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research report on Wednesday, April 24th. ValuEngine downgraded shares of Dover from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird downgraded shares of Dover from an “outperform” rating to a “neutral” rating in a research report on Monday, April 22nd. Finally, Citigroup set a $114.00 target price on shares of Dover and gave the company a “buy” rating in a research report on Friday, July 19th.
Shares of NYSE:DOV traded up $1.72 during midday trading on Tuesday, reaching $90.72. 578,600 shares of the company were exchanged, compared to its average volume of 904,034. The firm has a market cap of $12.94 billion, a PE ratio of 18.25, a P/E/G ratio of 1.33 and a beta of 1.48. Dover has a fifty-two week low of $65.83 and a fifty-two week high of $103.47. The stock has a fifty day simple moving average of $96.95 and a two-hundred day simple moving average of $94.45. The company has a quick ratio of 0.91, a current ratio of 1.34 and a debt-to-equity ratio of 1.00.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, August 29th. This is a boost from Dover’s previous quarterly dividend of $0.48. Dover’s dividend payout ratio (DPR) is currently 38.63%.
In other news, VP William Spurgeon sold 20,049 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $98.42, for a total transaction of $1,973,222.58. Following the completion of the sale, the vice president now owns 5,296 shares in the company, valued at approximately $521,232.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brad M. Cerepak sold 9,918 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $90.93, for a total transaction of $901,843.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,383 shares of company stock valued at $4,385,834. 1.70% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in Dover by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 1,908,781 shares of the industrial products company’s stock valued at $135,190,000 after buying an additional 122,881 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Dover by 1.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 6,761 shares of the industrial products company’s stock valued at $480,000 after buying an additional 119 shares during the last quarter. Truvestments Capital LLC acquired a new stake in Dover during the 1st quarter valued at $55,000. Mercer Global Advisors Inc. ADV acquired a new stake in Dover during the 1st quarter valued at $755,000. Finally, Salem Capital Management Inc. acquired a new stake in Dover during the 1st quarter valued at $239,000. Institutional investors own 84.30% of the company’s stock.
Dover Company Profile
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
Further Reading: How is a buy-side analyst different from a sell-side analyst?
Receive News & Ratings for Dover Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover and related companies with MarketBeat.com's FREE daily email newsletter.