Brokerages Set Dover Corporation (NYSE:DOV) Target Price at $218.09

Dover Corporation (NYSE:DOV) has been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $218.0909.

Several equities research analysts have issued reports on DOV shares. Royal Bank Of Canada reiterated a “sector perform” rating and set a $199.00 target price on shares of Dover in a research report on Thursday, January 15th. Oppenheimer lifted their price objective on shares of Dover from $225.00 to $228.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. Barclays increased their target price on Dover from $195.00 to $205.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. BNP Paribas Exane began coverage on Dover in a research report on Thursday, December 4th. They set a “neutral” rating and a $195.00 price target on the stock. Finally, Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a report on Saturday, November 8th.

Dover Stock Up 0.4%

DOV opened at $209.40 on Friday. The firm has a market capitalization of $28.72 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 1.45 and a beta of 1.31. Dover has a one year low of $143.04 and a one year high of $222.31. The company has a fifty day moving average price of $195.20 and a 200-day moving average price of $183.29. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, October 23rd. The industrial products company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.12. Dover had a return on equity of 17.62% and a net margin of 28.37%.The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter last year, the company earned $2.27 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts expect that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, November 28th. Dover’s dividend payout ratio (DPR) is presently 12.79%.

Insider Activity at Dover

In other news, SVP Ivonne M. Cabrera sold 2,630 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total value of $501,804.00. Following the completion of the sale, the senior vice president directly owned 72,968 shares in the company, valued at approximately $13,922,294.40. The trade was a 3.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher B. Woenker sold 1,627 shares of the company’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $186.04, for a total transaction of $302,687.08. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. First Trust Advisors LP grew its position in Dover by 717.4% during the 2nd quarter. First Trust Advisors LP now owns 1,716,256 shares of the industrial products company’s stock worth $314,470,000 after acquiring an additional 1,506,288 shares during the last quarter. Norges Bank bought a new position in shares of Dover in the second quarter worth approximately $274,135,000. AQR Capital Management LLC increased its stake in shares of Dover by 912.9% in the second quarter. AQR Capital Management LLC now owns 789,409 shares of the industrial products company’s stock worth $144,572,000 after buying an additional 711,471 shares during the period. Qube Research & Technologies Ltd raised its holdings in Dover by 65.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,317,787 shares of the industrial products company’s stock valued at $219,846,000 after buying an additional 520,211 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Dover by 133.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 656,349 shares of the industrial products company’s stock valued at $109,499,000 after buying an additional 375,333 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

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.