Dover (NYSE:DOV) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Dover (NYSE:DOV) from a hold rating to a buy rating in a report issued on Tuesday morning.

DOV has been the subject of several other research reports. Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a report on Monday, October 28th. Robert W. Baird restated an “outperform” rating and issued a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. Barclays raised their price objective on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company raised their price objective on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Finally, Oppenheimer restated an “outperform” rating and issued a $215.00 price objective (up previously from $210.00) on shares of Dover in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $207.44.

Dover Stock Performance

DOV opened at $202.36 on Tuesday. The business’s 50-day moving average price is $189.92 and its two-hundred day moving average price is $184.27. Dover has a 1 year low of $130.75 and a 1 year high of $204.93. The company has a market capitalization of $27.76 billion, a price-to-earnings ratio of 18.10, a P/E/G ratio of 2.71 and a beta of 1.22. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s dividend payout ratio is presently 18.43%.

Insider Transactions at Dover

In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the sale, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the sale, the senior vice president now directly owns 47,060 shares in the company, valued at approximately $8,706,100. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the completion of the sale, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,042 shares of company stock worth $7,368,578 over the last quarter. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Dover

A number of hedge funds and other institutional investors have recently made changes to their positions in DOV. Daiwa Securities Group Inc. raised its position in Dover by 7.1% during the third quarter. Daiwa Securities Group Inc. now owns 22,145 shares of the industrial products company’s stock valued at $4,246,000 after purchasing an additional 1,463 shares in the last quarter. Swedbank AB raised its position in Dover by 76.6% during the third quarter. Swedbank AB now owns 15,053 shares of the industrial products company’s stock valued at $2,886,000 after purchasing an additional 6,529 shares in the last quarter. Cerity Partners LLC raised its position in Dover by 5.0% during the third quarter. Cerity Partners LLC now owns 54,187 shares of the industrial products company’s stock valued at $10,390,000 after purchasing an additional 2,592 shares in the last quarter. Raymond James Trust N.A. raised its position in Dover by 13.7% during the third quarter. Raymond James Trust N.A. now owns 4,399 shares of the industrial products company’s stock valued at $843,000 after purchasing an additional 529 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Dover by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 811,340 shares of the industrial products company’s stock valued at $155,566,000 after purchasing an additional 9,464 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Company Profile

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.