Dover (NYSE:DOV) Hits New 12-Month High at $182.69

Dover Co. (NYSE:DOV)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $182.69 and last traded at $182.31, with a volume of 11424 shares. The stock had previously closed at $181.73.

Analyst Ratings Changes

Several brokerages have recently issued reports on DOV. Wells Fargo & Company upped their price objective on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Mizuho increased their price objective on shares of Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Royal Bank of Canada boosted their target price on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Citigroup lifted their price target on Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Barclays upped their price objective on Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $185.75.

Dover Price Performance

The firm has a market capitalization of $25.15 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.84 and a beta of 1.25. The stock’s 50 day simple moving average is $173.78 and its 200 day simple moving average is $156.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.89 and a current ratio of 1.31.

Dover (NYSE:DOV) last announced 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. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Dover had a return on equity of 25.04% and a net margin of 17.28%. Dover’s revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.94 earnings per share. As a group, analysts expect that Dover Co. will post 9.1 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Friday, May 31st. Dover’s dividend payout ratio (DPR) is presently 19.60%.

Insider Buying and Selling at Dover

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

Institutional Trading of Dover

Several hedge funds and other institutional investors have recently made changes to their positions in DOV. Vontobel Holding Ltd. raised its stake in Dover by 7.2% in the fourth quarter. Vontobel Holding Ltd. now owns 25,421 shares of the industrial products company’s stock valued at $3,910,000 after buying an additional 1,718 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Dover by 5.5% in the 4th quarter. Nordea Investment Management AB now owns 557,953 shares of the industrial products company’s stock valued at $85,612,000 after purchasing an additional 29,096 shares during the last quarter. Vest Financial LLC boosted its stake in Dover by 35.7% in the 4th quarter. Vest Financial LLC now owns 202,490 shares of the industrial products company’s stock worth $31,145,000 after purchasing an additional 53,273 shares in the last quarter. Chartwell Investment Partners LLC grew its position in Dover by 15.6% during the 3rd quarter. Chartwell Investment Partners LLC now owns 6,733 shares of the industrial products company’s stock worth $939,000 after purchasing an additional 907 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in Dover by 112.9% during the 4th quarter. SG Americas Securities LLC now owns 11,409 shares of the industrial products company’s stock valued at $1,755,000 after purchasing an additional 6,050 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Company Profile

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.