Dover Corporation (NYSE:DOV) Receives $226.54 Consensus Price Target from Analysts

Dover Corporation (NYSE:DOV) has received an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $226.5385.

DOV has been the topic of several recent research reports. Morgan Stanley set a $210.00 price target on Dover in a research report on Wednesday, February 4th. The Goldman Sachs Group reissued a “buy” rating and set a $224.00 target price on shares of Dover in a research report on Saturday, January 31st. BMO Capital Markets initiated coverage on shares of Dover in a report on Friday, March 27th. They set a “market perform” rating and a $237.00 price target for the company. Barclays set a $206.00 price objective on shares of Dover in a report on Monday, February 2nd. Finally, Robert W. Baird set a $255.00 target price on Dover in a research report on Friday, January 30th.

Dover Stock Performance

NYSE:DOV opened at $205.28 on Friday. The firm’s fifty day simple moving average is $216.63 and its 200 day simple moving average is $196.12. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. Dover has a twelve month low of $143.04 and a twelve month high of $237.54. The firm has a market capitalization of $27.67 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 1.58 and a beta of 1.25.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 EPS for the quarter, beating 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 company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the company posted $2.20 earnings per share. The firm’s revenue was up 8.8% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, February 27th. This represents a $2.08 annualized dividend and a yield of 1.0%. Dover’s payout ratio is currently 26.20%.

Insider Activity

In other Dover news, VP Girish Juneja sold 1,500 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $230.77, for a total transaction of $346,155.00. Following the transaction, the vice president directly owned 8,422 shares in the company, valued at $1,943,544.94. This represents a 15.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Ivonne M. Cabrera sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were 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 owned 72,188 shares in the company, valued at approximately $16,836,407.24. This trade represents a 5.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 82,497 shares of company stock worth $19,196,277. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Dover

Several hedge funds and other institutional investors have recently bought and sold shares of DOV. Brighton Jones LLC grew its position in shares of Dover by 62.1% in the 4th quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock worth $552,000 after acquiring an additional 1,128 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Dover by 4.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,377 shares of the industrial products company’s stock worth $2,526,000 after purchasing an additional 676 shares during the period. Empowered Funds LLC increased its stake in Dover by 11.8% during the first quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company’s stock valued at $2,636,000 after purchasing an additional 1,580 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Dover in the 2nd quarter worth about $488,000. Finally, J.W. Cole Advisors Inc. acquired a new position in shares of Dover in the 2nd quarter valued at about $225,000. 84.46% of the stock is owned by 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.