Dover Corporation (NYSE:DOV) Receives $210.64 Consensus Price Target from Brokerages

Dover Corporation (NYSE:DOV) has received a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $210.6364.

DOV has been the subject of several recent analyst reports. Robert W. Baird set a $235.00 target price on Dover in a research report on Friday, October 24th. Wells Fargo & Company reissued a “positive” rating on shares of Dover in a report on Monday, December 15th. Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Royal Bank Of Canada lifted their target price on shares of Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a research report on Friday, October 24th. Finally, UBS Group set a $200.00 price target on shares of Dover in a research note on Friday, October 24th.

Insider Transactions at Dover

In other news, CFO Christopher B. Woenker sold 1,627 shares of the stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $186.04, for a total transaction of $302,687.08. Following the transaction, the chief financial officer directly owned 2,553 shares in the company, valued at approximately $474,960.12. This represents a 38.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $190.80, for a total value of $501,804.00. Following the transaction, the senior vice president directly owned 72,968 shares in the company, valued at approximately $13,922,294.40. This represents a 3.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Financial Life Planners purchased a new stake in shares of Dover in the 3rd quarter valued at $25,000. AdvisorShares Investments LLC bought a new stake in Dover in the second quarter worth $30,000. Vermillion & White Wealth Management Group LLC boosted its position in Dover by 122.4% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock valued at $31,000 after buying an additional 93 shares during the period. Caldwell Trust Co bought a new position in shares of Dover during the second quarter valued at about $31,000. Finally, Harbour Investments Inc. increased its holdings in shares of Dover by 51.7% in the second quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock worth $32,000 after buying an additional 60 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Performance

Dover stock opened at $200.21 on Wednesday. Dover has a 1-year low of $143.04 and a 1-year high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $27.46 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.53 and a beta of 1.31. The firm’s 50 day simple moving average is $186.25 and its 200 day simple moving average is $180.45.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. The firm had revenue of $1.78 billion during the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. As a group, analysts expect that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were given a $0.52 dividend. The ex-dividend date was Friday, November 28th. This represents a $2.08 annualized dividend and a yield of 1.0%. Dover’s payout ratio is 12.79%.

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.