Dover (NYSE:DOV) Sets New 1-Year Low – What’s Next?

Dover Co. (NYSE:DOV)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $163.73 and last traded at $163.73, with a volume of 255647 shares changing hands. The stock had previously closed at $179.02.

Analysts Set New Price Targets

Several brokerages have weighed in on DOV. StockNews.com cut Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Oppenheimer reissued an “outperform” rating and set a $225.00 price target (up from $220.00) on shares of Dover in a research report on Friday, January 31st. The Goldman Sachs Group upped their price objective on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Wells Fargo & Company lifted their target price on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Finally, Barclays reduced their target price on Dover from $213.00 to $205.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.18.

Dover Stock Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The firm has a market capitalization of $22.26 billion, a PE ratio of 8.36, a P/E/G ratio of 2.06 and a beta of 1.24. The company’s fifty day simple moving average is $192.41 and its 200 day simple moving average is $193.48.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. As a group, equities research analysts expect that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.515 per share. The ex-dividend date was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a yield of 1.27%. Dover’s dividend payout ratio (DPR) is 10.59%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DOV. MassMutual Private Wealth & Trust FSB increased its holdings in Dover by 4.5% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,509 shares of the industrial products company’s stock worth $441,000 after acquiring an additional 108 shares during the period. 111 Capital bought a new position in shares of Dover in the fourth quarter worth $464,000. Bannerman Wealth Management Group LLC purchased a new stake in shares of Dover in the fourth quarter worth $228,000. IronOak Wealth LLC. bought a new stake in Dover during the fourth quarter valued at $340,000. Finally, Smith Shellnut Wilson LLC ADV grew its position in Dover by 9.8% during the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 3,128 shares of the industrial products company’s stock worth $587,000 after buying an additional 278 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.