Dover (NYSE:DOV) Hits New 1-Year High – Time to Buy?

Dover Co. (NYSE:DOV)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $222.31 and last traded at $203.13, with a volume of 842495 shares. The stock had previously closed at $202.28.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Barclays upped their price objective on shares of Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Royal Bank of Canada boosted their target price on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 target price (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a report on Monday, October 28th. Finally, The Goldman Sachs Group lifted their price target on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Stock Performance

The business has a fifty day moving average price of $195.37 and a 200-day moving average price of $190.79. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $28.04 billion, a P/E ratio of 10.51, a P/E/G ratio of 2.07 and a beta of 1.24.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. On average, sell-side analysts expect that Dover Co. will post 9.42 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Financial Life Planners purchased a new stake in Dover in the 4th quarter worth approximately $28,000. Ashton Thomas Securities LLC bought a new position in Dover during the third quarter valued at approximately $33,000. R Squared Ltd purchased a new position in shares of Dover in the fourth quarter valued at $34,000. Kieckhefer Group LLC purchased a new position in shares of Dover in the 4th quarter worth $38,000. Finally, Golden State Wealth Management LLC purchased a new stake in Dover during the fourth quarter valued at approximately $46,000. 84.46% of the stock is currently owned by institutional investors.

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.