Brokerages Set Dover Co. (NYSE:DOV) PT at $192.63

Shares of Dover Co. (NYSE:DOV) have received an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $192.63.

Several equities analysts recently issued reports on the company. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Barclays raised their price target on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Mizuho raised their price target on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Royal Bank of Canada raised their price target on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Finally, Robert W. Baird reissued an “outperform” rating and set a $208.00 price target on shares of Dover in a research report on Monday, July 22nd.

Dover Stock Up 1.2 %

DOV opened at $178.91 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. The business has a 50 day simple moving average of $180.03 and a 200-day simple moving average of $175.42. The stock has a market capitalization of $24.59 billion, a P/E ratio of 17.19, a P/E/G ratio of 2.13 and a beta of 1.22. Dover has a 12 month low of $127.25 and a 12 month high of $192.31.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. Dover’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.05 earnings per share. On average, equities analysts anticipate that Dover will post 9.15 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a $0.515 dividend. The ex-dividend date is Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.15%. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s payout ratio is currently 19.79%.

Insider Activity

In other news, CFO Brad M. Cerepak sold 4,341 shares of Dover stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the completion of the sale, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Dover

A number of institutional investors have recently added to or reduced their stakes in DOV. Price T Rowe Associates Inc. MD grew its position in Dover by 153.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock valued at $466,622,000 after acquiring an additional 1,595,611 shares during the period. Norges Bank acquired a new position in shares of Dover during the fourth quarter worth about $175,275,000. Franklin Resources Inc. lifted its stake in shares of Dover by 15.4% during the fourth quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock worth $567,426,000 after purchasing an additional 492,577 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Dover by 162.2% during the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock worth $124,195,000 after purchasing an additional 425,768 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Dover by 50.7% during the fourth quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock worth $189,433,000 after purchasing an additional 414,481 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Company Profile

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.