Dover (NYSE:DOV) Hits New 12-Month High at $179.80

Dover Co. (NYSE:DOV) hit a new 52-week high during trading on Thursday . The company traded as high as $179.80 and last traded at $179.53, with a volume of 608004 shares trading hands. The stock had previously closed at $171.44.

Wall Street Analyst Weigh In

A number of brokerages have commented on DOV. Robert W. Baird increased their price target on shares of Dover from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Oppenheimer increased their price target on shares of Dover from $177.00 to $187.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Seaport Res Ptn upgraded shares of Dover from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Finally, Royal Bank of Canada raised their target price on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Dover has an average rating of “Moderate Buy” and a consensus price target of $175.13.

Dover Price Performance

The business has a 50 day moving average of $171.04 and a 200 day moving average of $153.84. The company has a market cap of $24.73 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 1.79 and a beta of 1.27. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.40 and a quick ratio of 0.90.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.44 by $0.01. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.16 billion. Dover had a return on equity of 25.95% and a net margin of 12.52%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.16 earnings per share. As a group, research analysts predict that Dover Co. will post 9.07 EPS for the current year.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Wednesday, February 28th. Dover’s dividend payout ratio is currently 27.13%.

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the completion of the transaction, the chief financial officer now owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the completion of the transaction, the chief financial officer now directly owns 23,909 shares in the company, valued at $3,897,406.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen M. Todd sold 1,500 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the transaction, the director now owns 22,955 shares of the company’s stock, valued at $3,929,666.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,910 shares of company stock valued at $4,318,059. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dover

Several large investors have recently bought and sold shares of the business. AdvisorNet Financial Inc lifted its stake in Dover by 783.3% during the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 188 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Dover in the 4th quarter worth approximately $33,000. Life Planning Partners Inc bought a new position in shares of Dover in the 4th quarter worth approximately $35,000. Orion Capital Management LLC bought a new position in shares of Dover in the 3rd quarter worth approximately $32,000. Finally, Headinvest LLC bought a new position in shares of Dover in the 3rd quarter worth approximately $32,000. 84.46% of the stock is currently owned by 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.