Dover (NYSE:DOV) Reaches New 1-Year High – Still a Buy?

Dover Co. (NYSE:DOV)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $205.06 and last traded at $204.74, with a volume of 560665 shares changing hands. The stock had previously closed at $202.49.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Mizuho boosted their price objective on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Oppenheimer reissued an “outperform” rating and set a $215.00 price objective (up from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research report on Monday, October 28th. Wells Fargo & Company boosted their price objective on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Finally, UBS Group assumed coverage on shares of Dover in a research report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $208.40.

Dover Stock Up 1.1 %

The company’s 50-day moving average is $192.93 and its 200 day moving average is $185.27. The company has a market capitalization of $28.09 billion, a PE ratio of 18.11, a P/E/G ratio of 2.67 and a beta of 1.22. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.01%. The ex-dividend date is Friday, November 29th. Dover’s dividend payout ratio is currently 18.43%.

Insider Buying and Selling at Dover

In other news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. This represents a 54.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the 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 transaction, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. This trade represents a 2.53 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Dover

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new stake in Dover in the 1st quarter worth approximately $27,000. McClarren Financial Advisors Inc. increased its holdings in Dover by 4,400.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 176 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Dover in the 3rd quarter worth approximately $33,000. Fairscale Capital LLC purchased a new stake in Dover in the 2nd quarter worth approximately $34,000. Finally, Transcendent Capital Group LLC increased its holdings in Dover by 208.0% in the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 156 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.