Dover (NYSE:DOV) Upgraded 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 morning.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company boosted their target price 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. Barclays upped their target price on Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their price target on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research note on Monday, October 28th. Finally, Oppenheimer reissued an “outperform” rating and issued a $215.00 target price (up previously from $210.00) on shares of Dover in a report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $208.40.

Dover Price Performance

Shares of DOV traded down $0.43 during trading hours on Tuesday, hitting $201.66. 149,148 shares of the company were exchanged, compared to its average volume of 962,767. The company has a market cap of $27.67 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 2.74 and a beta of 1.22. The firm’s fifty day moving average is $191.02 and its 200 day moving average is $184.53. Dover has a fifty-two week low of $136.50 and a fifty-two week high of $204.93. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.515 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.02%. Dover’s dividend payout ratio (DPR) is presently 18.43%.

Insider Transactions at Dover

In related news, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 $33,285,578.88. This trade represents a 12.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction on Thursday, August 29th. The shares were 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 of the company’s stock, valued at $8,706,100. This represents a 2.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,042 shares of company stock worth $7,368,578 over the last ninety days. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Dover

A number of hedge funds have recently bought and sold shares of DOV. LRI Investments LLC purchased a new stake in shares of Dover during the 1st quarter worth approximately $27,000. McClarren Financial Advisors Inc. increased its position in Dover by 4,400.0% in the second 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 stake in shares of Dover in the third quarter valued at $33,000. Fairscale Capital LLC purchased a new position in shares of Dover during the 2nd quarter valued at $34,000. Finally, Transcendent Capital Group LLC grew its stake in shares of 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 acquiring an additional 156 shares during the period. 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.