Dover (NYSE:DOV) Hits New 52-Week High – Should You Buy?

Dover Corporation (NYSE:DOV)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $225.23 and last traded at $225.0340, with a volume of 1283827 shares changing hands. The stock had previously closed at $223.66.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada lifted their price target on Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Dover in a research report on Monday, December 29th. Barclays set a $206.00 price objective on shares of Dover in a research report on Monday, February 2nd. BNP Paribas Exane initiated coverage on shares of Dover in a report on Thursday, December 4th. They set a “neutral” rating and a $195.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and a consensus price target of $224.00.

Dover Price Performance

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 stock has a market capitalization of $30.86 billion, a P/E ratio of 28.34, a P/E/G ratio of 1.72 and a beta of 1.29. The firm has a fifty day moving average price of $202.00 and a two-hundred day moving average price of $185.14.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share 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 analysts’ expectations of $2.09 billion. During the same quarter in the previous year, the business earned $2.20 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. On average, analysts expect that Dover Corporation will post 9.45 EPS for the current year.

Insider Buying and Selling

In other Dover news, CFO Christopher B. Woenker sold 1,627 shares of Dover stock in a transaction on Friday, November 28th. The shares were sold at an average price of $186.04, for a total value of $302,687.08. Following the completion of the transaction, the chief financial officer directly owned 2,553 shares of the company’s stock, valued at $474,960.12. This trade represents a 38.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $190.80, for a total transaction of $501,804.00. Following the completion of the sale, the senior vice president owned 72,968 shares of the company’s stock, valued at $13,922,294.40. This trade represents a 3.48% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Dover

Several hedge funds have recently added to or reduced their stakes in the business. Financial Life Planners acquired a new position in shares of Dover in the 3rd quarter valued at $25,000. Tompkins Financial Corp lifted its position in Dover by 102.7% in the fourth quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock valued at $30,000 after buying an additional 77 shares during the last quarter. AdvisorShares Investments LLC acquired a new position in Dover in the second quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC boosted its stake 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 worth $31,000 after buying an additional 93 shares during the period. Finally, Caldwell Trust Co acquired a new stake in shares of Dover during the second quarter valued at about $31,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.