Dover (NYSE:DOV) Stock Breaks Above Two Hundred Day Moving Average – Should You Sell?

Shares of Dover Corporation (NYSE:DOV) passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $209.73 and traded as high as $214.40. Dover shares last traded at $212.8290, with a volume of 1,447,465 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company upped their price target on Dover from $229.00 to $233.00 and gave the company an “overweight” rating in a research report on Friday, October 23rd. Robert W. Baird set a $258.00 price objective on Dover in a research report on Friday, October 23rd. Weiss Ratings lowered Dover from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 2nd. Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Mizuho dropped their target price on Dover from $270.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $238.60.

Dover Stock Up 0.2%

The stock has a market capitalization of $28.25 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 1.82 and a beta of 1.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.95 and a quick ratio of 1.37. The business has a fifty day moving average of $195.73 and a 200 day moving average of $209.77.

Dover (NYSE:DOV) last posted its earnings results on Thursday, October 22nd. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.03. Dover had a return on equity of 18.68% and a net margin of 13.60%. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter last year, the firm earned $2.62 earnings per share. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, equities analysts predict that Dover Corporation will post 10.73 earnings per share for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be given a $0.5250 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $2.10 dividend on an annualized basis and a yield of 1.0%. Dover’s dividend payout ratio is presently 24.48%.

Insiders Place Their Bets

In other Dover news, CEO Richard Tobin sold 86,440 shares of Dover stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $214.86, for a total transaction of $18,572,498.40. Following the completion of the sale, the chief executive officer directly owned 212,855 shares in the company, valued at $45,734,025.30. This trade represents a 28.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dover

Hedge funds have recently made changes to their positions in the stock. Callan Family Office LLC acquired a new position in Dover during the 2nd quarter worth about $702,000. Concurrent Investment Advisors LLC boosted its holdings in Dover by 239.5% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 14,204 shares of the industrial products company’s stock valued at $3,186,000 after acquiring an additional 10,020 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Dover by 244.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 720,866 shares of the industrial products company’s stock valued at $134,696,000 after acquiring an additional 511,661 shares during the period. Squarepoint Ops LLC boosted its holdings in Dover by 1,356.0% during the 2nd quarter. Squarepoint Ops LLC now owns 25,989 shares of the industrial products company’s stock valued at $5,829,000 after acquiring an additional 24,204 shares during the period. Finally, Hsbc Holdings PLC grew its position in Dover by 5.0% in the 2nd quarter. Hsbc Holdings PLC now owns 941,695 shares of the industrial products company’s stock valued at $211,269,000 after acquiring an additional 44,854 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Company Profile

Dover Corporation is a diversified manufacturer of equipment and components for industrial and commercial markets. Founded in 1955, the company has grown through a combination of product development and acquisitions and serves customers around the world. Dover’s businesses operate across areas including engineered products, clean energy and fueling, imaging and identification, pumps and process solutions, and climate and sustainability technologies. Its products include fueling and vehicle-service equipment, pumps and fluid-handling systems, packaging and marking equipment, and components used in industrial and commercial applications.