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 research report released on Tuesday.

Other equities research analysts have also recently issued research reports about the company. Barclays upped their price target on Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company increased their price objective on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Royal Bank of Canada increased their price objective on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Mizuho increased their price objective on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. increased their price objective on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and an average price target of $208.40.

Dover Price Performance

Dover stock opened at $201.18 on Tuesday. Dover has a 12 month low of $136.50 and a 12 month high of $204.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. The business has a 50 day simple moving average of $191.53 and a 200-day simple moving average of $184.67. The stock has a market capitalization of $27.60 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 2.74 and a beta of 1.22.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a 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 Buying and Selling at Dover

In other news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the transaction, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at $33,285,578.88. The trade was a 12.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Brad M. Cerepak sold 14,818 shares of Dover stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. This represents a 54.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,042 shares of company stock worth $7,368,578 in the last 90 days. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dover

Several hedge funds and other institutional investors have recently bought and sold shares of DOV. LRI Investments LLC acquired a new position in shares of Dover in the 1st quarter valued at approximately $27,000. McClarren Financial Advisors Inc. grew its stake in Dover by 4,400.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after buying an additional 176 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Dover during the 3rd quarter worth $33,000. Fairscale Capital LLC bought a new position in Dover during the 2nd quarter worth $34,000. Finally, Transcendent Capital Group LLC grew its stake in Dover by 208.0% during the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after buying an additional 156 shares during the last quarter. 84.46% of the stock is 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.