Dover (NYSE:DOV) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Dover (NYSE:DOV) from a hold rating to a buy rating in a research report released on Friday.

Several other research analysts have also commented on the company. Royal Bank of Canada lifted their price target on Dover from $146.00 to $153.00 and gave the stock a sector perform rating in a research report on Friday, February 2nd. Oppenheimer lifted their target price on shares of Dover from $187.00 to $197.00 and gave the company an outperform rating in a report on Friday. Mizuho increased their price target on shares of Dover from $180.00 to $185.00 and gave the stock a buy rating in a research note on Friday. Citigroup raised their price objective on shares of Dover from $180.00 to $205.00 and gave the stock a buy rating in a research report on Monday, April 8th. Finally, Seaport Res Ptn raised shares of Dover from a neutral rating to a buy rating in a report on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Dover presently has an average rating of Moderate Buy and an average price target of $185.75.

Dover Trading Up 0.6 %

NYSE DOV opened at $180.17 on Friday. The firm’s fifty day moving average price is $171.75 and its 200 day moving average price is $154.47. Dover has a 12 month low of $127.25 and a 12 month high of $181.49. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.40 and a quick ratio of 0.90. The company has a market capitalization of $24.75 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 1.87 and a beta of 1.27.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.07. Dover had a return on equity of 25.41% and a net margin of 17.28%. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the company posted $1.94 earnings per share. The business’s quarterly revenue was up .7% compared to the same quarter last year. On average, sell-side analysts expect that Dover will post 9.1 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Wednesday, February 28th. Dover’s payout ratio is 19.60%.

Insider Buying and Selling at Dover

In related news, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the sale, the director now directly owns 22,955 shares in the company, valued at approximately $3,929,666.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the transaction, the chief financial officer now owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $171.19, for a total value of $256,785.00. Following the completion of the transaction, the director now directly owns 22,955 shares in the company, valued at $3,929,666.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,910 shares of company stock valued at $4,318,059. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dover

Several hedge funds and other institutional investors have recently modified their holdings of the company. AdvisorNet Financial Inc increased its holdings in Dover by 783.3% in the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 188 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in Dover in the fourth quarter valued at approximately $33,000. Life Planning Partners Inc purchased a new stake in shares of Dover during the fourth quarter valued at approximately $35,000. Orion Capital Management LLC acquired a new position in shares of Dover during the third quarter worth $32,000. Finally, Headinvest LLC purchased a new position in shares of Dover in the third quarter valued at $32,000. 84.46% of the stock is owned by institutional investors and hedge funds.

About Dover

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.