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

Dover Co. (NYSE:DOV) has been assigned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $207.75.

Several research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Dover from $190.00 to $211.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Wall Street Zen lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Barclays upped their price target on shares of Dover from $180.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. Citigroup cut their price target on shares of Dover from $244.00 to $201.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Mizuho set a $215.00 price target on shares of Dover in a research note on Friday, May 16th.

Dover Price Performance

Shares of DOV opened at $179.56 on Friday. The company has a 50 day moving average price of $171.50 and a 200-day moving average price of $186.23. Dover has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The stock has a market capitalization of $24.62 billion, a PE ratio of 9.23, a PEG ratio of 2.06 and a beta of 1.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.99 by $0.06. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. Dover had a net margin of 32.95% and a return on equity of 21.03%. Dover’s revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.95 EPS. Equities analysts predict that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Friday, May 30th. Dover’s dividend payout ratio (DPR) is presently 12.41%.

Hedge Funds Weigh In On Dover

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ecofi Investissements SA lifted its holdings in Dover by 1.1% during the fourth quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company’s stock valued at $765,000 after purchasing an additional 50 shares in the last quarter. Legacy Financial Advisors Inc. lifted its stake in shares of Dover by 1.4% in the first quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company’s stock worth $726,000 after buying an additional 57 shares in the last quarter. Summit Financial LLC lifted its stake in shares of Dover by 0.9% in the first quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company’s stock worth $1,159,000 after buying an additional 60 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in shares of Dover by 4.0% in the first quarter. Fifth Third Wealth Advisors LLC now owns 1,740 shares of the industrial products company’s stock worth $306,000 after buying an additional 67 shares in the last quarter. Finally, Lido Advisors LLC lifted its stake in shares of Dover by 1.4% in the fourth quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company’s stock worth $923,000 after buying an additional 69 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

About Dover

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.