Dover Corporation (NYSE:DOV) Receives $224.00 Average Target Price from Analysts

Dover Corporation (NYSE:DOV) has earned an average rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $224.00.

Several research analysts have recently issued reports on the company. Morgan Stanley set a $210.00 price objective on Dover in a research report on Wednesday, February 4th. Barclays set a $206.00 price target on Dover in a report on Monday, February 2nd. UBS Group set a $256.00 price objective on shares of Dover and gave the stock a “buy” rating in a report on Sunday, January 4th. The Goldman Sachs Group restated a “buy” rating and set a $224.00 price objective on shares of Dover in a research report on Saturday, January 31st. Finally, BNP Paribas Exane started coverage on shares of Dover in a research report on Thursday, December 4th. They issued a “neutral” rating and a $195.00 target price on the stock.

Insider Activity at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 2,630 shares of Dover stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $190.80, for a total transaction of $501,804.00. Following the transaction, the senior vice president owned 72,968 shares of the company’s stock, valued at $13,922,294.40. The trade was a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Girish Juneja sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $230.77, for a total value of $346,155.00. Following the completion of the sale, the vice president owned 8,422 shares of the company’s stock, valued at approximately $1,943,544.94. This represents a 15.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 5,757 shares of company stock valued at $1,150,646 in the last three months. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC boosted its stake in shares of Dover by 62.1% during the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock worth $552,000 after buying an additional 1,128 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Dover by 4.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,377 shares of the industrial products company’s stock worth $2,526,000 after acquiring an additional 676 shares during the period. Empowered Funds LLC lifted its position in Dover by 11.8% during the 1st quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company’s stock worth $2,636,000 after acquiring an additional 1,580 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Dover in the 2nd quarter valued at approximately $488,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Dover in the second quarter valued at approximately $37,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Up 0.4%

Shares of Dover stock opened at $231.54 on Thursday. Dover has a 52-week low of $143.04 and a 52-week high of $237.54. The company has a 50 day moving average of $206.13 and a 200 day moving average of $186.82. The company has a quick ratio of 1.28, a current ratio of 1.79 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $31.76 billion, a P/E ratio of 29.16, a P/E/G ratio of 1.78 and a beta of 1.29.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.09 billion. Dover had a net margin of 13.52% and a return on equity of 17.87%. The company’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the business earned $2.20 EPS. As a group, research analysts forecast that Dover will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, February 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. Dover’s payout ratio is 26.20%.

Dover Company Profile

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.