Dover Co. (NYSE:DOV) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Dover Co. (NYSE:DOV) have received a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $212.91.

Several brokerages have recently commented on DOV. UBS Group began coverage on Dover in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 target price for the company. The Goldman Sachs Group raised their target price on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Barclays raised their target price on Dover from $190.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Wells Fargo & Company decreased their target price on Dover from $205.00 to $200.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. raised their target price on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th.

Institutional Trading of Dover

Hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. raised its holdings in Dover by 162.2% during the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock valued at $124,195,000 after buying an additional 425,768 shares in the last quarter. Interval Partners LP raised its holdings in Dover by 110.0% during the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock valued at $105,216,000 after buying an additional 305,436 shares in the last quarter. FMR LLC raised its holdings in Dover by 5.1% during the third quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after buying an additional 149,378 shares in the last quarter. National Bank of Canada FI raised its holdings in Dover by 313.7% during the third quarter. National Bank of Canada FI now owns 191,127 shares of the industrial products company’s stock valued at $36,647,000 after buying an additional 144,930 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new position in Dover during the second quarter valued at about $17,323,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Performance

DOV opened at $188.93 on Wednesday. The firm has a market cap of $25.92 billion, a PE ratio of 16.90, a P/E/G ratio of 2.70 and a beta of 1.22. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $196.72 and a 200-day simple moving average of $188.71. Dover has a fifty-two week low of $143.96 and a fifty-two week high of $208.26.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.06 annualized dividend and a dividend yield of 1.09%. Dover’s dividend payout ratio is 18.43%.

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.