Dover Co. (NYSE:DOV) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Dover Co. (NYSE:DOV) have earned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $185.75.

DOV has been the topic of a number of recent research reports. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Barclays lifted their price objective on shares of Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Mizuho lifted their price objective on shares of Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Citigroup lifted their price objective on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Oppenheimer lifted their price objective on shares of Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research note on Friday, April 26th.

Institutional Trading of Dover

Institutional investors and hedge funds have recently modified their holdings of the business. Rafferty Asset Management LLC raised its position in shares of Dover by 9.4% in the third quarter. Rafferty Asset Management LLC now owns 11,124 shares of the industrial products company’s stock valued at $1,552,000 after buying an additional 954 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Dover by 12.5% during the third quarter. Envestnet Asset Management Inc. now owns 206,041 shares of the industrial products company’s stock worth $28,745,000 after purchasing an additional 22,932 shares during the last quarter. Invesco Ltd. increased its position in Dover by 14.9% during the third quarter. Invesco Ltd. now owns 1,025,505 shares of the industrial products company’s stock worth $143,068,000 after purchasing an additional 133,241 shares during the last quarter. LPL Financial LLC increased its position in Dover by 19.2% during the third quarter. LPL Financial LLC now owns 107,154 shares of the industrial products company’s stock worth $14,949,000 after purchasing an additional 17,245 shares during the last quarter. Finally, Northern Trust Corp increased its position in Dover by 5.5% during the third quarter. Northern Trust Corp now owns 1,724,613 shares of the industrial products company’s stock worth $240,601,000 after purchasing an additional 89,774 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Price Performance

Shares of NYSE:DOV opened at $180.45 on Friday. The company’s fifty day moving average price is $181.07 and its 200 day moving average price is $168.35. Dover has a 12 month low of $127.25 and a 12 month high of $188.64. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.89. The firm has a market capitalization of $24.80 billion, a P/E ratio of 17.33, a P/E/G ratio of 2.21 and a beta of 1.24.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.04%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the business earned $1.94 EPS. Dover’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, sell-side analysts predict that Dover will post 9.1 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Friday, May 31st. Dover’s dividend payout ratio (DPR) is presently 19.60%.

About Dover

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.