Several other equities research analysts have also issued reports on the stock. Citigroup raised their target price on shares of Dover from $113.00 to $114.00 and gave the stock a buy rating in a report on Monday, September 9th. Barclays raised their target price on shares of Dover from $111.00 to $112.00 and gave the stock an overweight rating in a report on Friday, July 19th. JPMorgan Chase & Co. raised their target price on shares of Dover from $82.00 to $93.00 and gave the stock a neutral rating in a report on Thursday. Robert W. Baird raised their target price on shares of Dover from $100.00 to $105.00 and gave the stock a neutral rating in a report on Wednesday, September 11th. Finally, Royal Bank of Canada raised their target price on shares of Dover to $97.00 and gave the stock a sector perform rating in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $99.12.
Shares of Dover stock traded down $1.49 during trading on Thursday, hitting $95.87. The stock had a trading volume of 47,415 shares, compared to its average volume of 698,366. The firm’s fifty day simple moving average is $95.56 and its 200-day simple moving average is $95.75. The stock has a market cap of $13.80 billion, a PE ratio of 19.29, a PEG ratio of 1.42 and a beta of 1.47. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.34 and a quick ratio of 0.91. Dover has a 12 month low of $65.83 and a 12 month high of $103.47.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.49 per share. This is a positive change from Dover’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, August 29th. This represents a $1.96 dividend on an annualized basis and a yield of 2.04%. Dover’s dividend payout ratio (DPR) is presently 39.44%.
In other news, insider Brad M. Cerepak sold 9,918 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $90.93, for a total value of $901,843.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP William Spurgeon sold 20,049 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $98.42, for a total transaction of $1,973,222.58. Following the completion of the sale, the vice president now owns 5,296 shares of the company’s stock, valued at approximately $521,232.32. The disclosure for this sale can be found here. Insiders have sold a total of 45,383 shares of company stock valued at $4,385,834 in the last quarter. 1.70% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of DOV. LLBH Private Wealth Management LLC bought a new stake in shares of Dover in the 2nd quarter valued at about $65,000. Nuveen Asset Management LLC grew its position in shares of Dover by 50,089.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,981,474 shares of the industrial products company’s stock worth $198,544,000 after buying an additional 1,977,526 shares during the last quarter. APG Asset Management N.V. grew its position in shares of Dover by 180.3% in the 2nd quarter. APG Asset Management N.V. now owns 691,697 shares of the industrial products company’s stock worth $60,861,000 after buying an additional 444,913 shares during the last quarter. Prudential Financial Inc. grew its position in shares of Dover by 225.4% in the 2nd quarter. Prudential Financial Inc. now owns 551,949 shares of the industrial products company’s stock worth $55,305,000 after buying an additional 382,344 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Dover by 3.1% in the 2nd quarter. BlackRock Inc. now owns 12,354,483 shares of the industrial products company’s stock worth $1,237,921,000 after buying an additional 371,171 shares during the last quarter. Institutional investors and hedge funds own 85.99% of the company’s stock.
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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