Dover (NYSE:DOV) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Dover (NYSE:DOV) from a hold rating to a buy rating in a report published on Saturday.

Other equities research analysts have also recently issued research reports about the stock. Citigroup reiterated a “buy” rating on shares of Dover in a report on Monday, January 12th. Wells Fargo & Company increased their target price on Dover from $205.00 to $210.00 and gave the company an “equal weight” rating in a research note on Friday, January 30th. Royal Bank Of Canada boosted their price target on Dover from $199.00 to $209.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Barclays set a $206.00 price target on Dover in a report on Monday, February 2nd. Finally, Morgan Stanley set a $210.00 price objective on Dover in a report on Wednesday, February 4th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $224.00.

Dover Trading Down 0.8%

Dover stock opened at $225.32 on Friday. Dover has a 12 month low of $143.04 and a 12 month high of $237.54. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. The business’s fifty day simple moving average is $212.11 and its two-hundred day simple moving average is $190.18. The company has a market capitalization of $30.39 billion, a price-to-earnings ratio of 28.38, a price-to-earnings-growth ratio of 1.73 and a beta of 1.29.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.03. Dover had a return on equity of 17.87% and a net margin of 13.52%.The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the firm earned $2.20 EPS. Dover’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, equities analysts predict that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

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

Insiders Place Their Bets

In other Dover news, SVP Ivonne M. Cabrera sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total transaction of $932,920.00. Following the completion of the sale, the senior vice president directly owned 72,188 shares in the company, valued at $16,836,407.24. The trade was a 5.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Girish Juneja sold 1,500 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total transaction of $346,155.00. Following the completion of the transaction, the vice president owned 8,422 shares in the company, valued at $1,943,544.94. This trade represents a 15.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 85,127 shares of company stock valued at $19,698,081. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Dover

Institutional investors have recently bought and sold shares of the stock. Orion Porfolio Solutions LLC grew its holdings in Dover by 0.7% during the fourth quarter. Orion Porfolio Solutions LLC now owns 7,542 shares of the industrial products company’s stock valued at $1,472,000 after purchasing an additional 51 shares during the period. Frank Rimerman Advisors LLC lifted its position in shares of Dover by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 2,439 shares of the industrial products company’s stock valued at $476,000 after buying an additional 52 shares in the last quarter. KCM Investment Advisors LLC grew its stake in shares of Dover by 3.5% during the 4th quarter. KCM Investment Advisors LLC now owns 1,585 shares of the industrial products company’s stock valued at $309,000 after acquiring an additional 53 shares during the period. Tectonic Advisors LLC increased its holdings in Dover by 1.7% in the 4th quarter. Tectonic Advisors LLC now owns 3,176 shares of the industrial products company’s stock worth $620,000 after acquiring an additional 54 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its holdings in Dover by 2.3% during the fourth quarter. Kingsview Wealth Management LLC now owns 2,506 shares of the industrial products company’s stock valued at $489,000 after purchasing an additional 56 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

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.