Dover (NYSE:DOV) Hits New 1-Year High – Here’s Why

Dover Co. (NYSE:DOV) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $222.31 and last traded at $203.13, with a volume of 842495 shares trading hands. The stock had previously closed at $202.28.

Analyst Ratings Changes

DOV has been the topic of a number of recent analyst reports. Mizuho increased their target price on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. UBS Group reduced their price objective on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Oppenheimer restated an “outperform” rating and issued a $225.00 price target (up from $220.00) on shares of Dover in a report on Friday, January 31st. JPMorgan Chase & Co. increased their price target on Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada lifted their price objective on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Stock Performance

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The firm’s 50 day moving average is $195.37 and its 200-day moving average is $190.79. The stock has a market capitalization of $28.04 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 2.07 and a beta of 1.24.

Dover (NYSE:DOV) last announced its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Analysts forecast that Dover Co. will post 9.42 earnings per share for the current fiscal year.

Institutional Trading of Dover

Institutional investors have recently made changes to their positions in the company. Financial Life Planners acquired a new stake in Dover in the 4th quarter valued at about $28,000. Ashton Thomas Securities LLC acquired a new stake in shares of Dover during the 3rd quarter worth about $33,000. R Squared Ltd purchased a new stake in shares of Dover in the 4th quarter valued at approximately $34,000. Kieckhefer Group LLC acquired a new position in Dover during the fourth quarter worth $38,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Dover in the fourth quarter valued at $46,000. 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.