Dover (NYSE:DOV) Lifted 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 report published on Friday morning.

DOV has been the topic of several other research reports. Robert W. Baird raised their price target on Dover from $185.00 to $208.00 and gave the company an outperform rating in a research note on Friday. Seaport Res Ptn upgraded Dover from a neutral rating to a buy rating in a research note on Monday, February 5th. Mizuho raised their price target on Dover from $180.00 to $185.00 and gave the company a buy rating in a research note on Friday. Barclays raised their price target on Dover from $180.00 to $186.00 and gave the company an equal weight rating in a research note on Friday. Finally, Citigroup lifted their target price on Dover from $180.00 to $205.00 and gave the company a buy rating in a research note on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Dover has a consensus rating of Moderate Buy and a consensus target price of $185.75.

Dover Stock Up 0.6 %

NYSE:DOV opened at $180.17 on Friday. Dover has a twelve month low of $127.25 and a twelve month high of $181.49. The company has a market cap of $24.75 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 1.85 and a beta of 1.27. The stock has a fifty day simple moving average of $171.75 and a 200-day simple moving average of $154.29. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59.

Dover (NYSE:DOV) last released its earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.07. Dover had a return on equity of 25.41% and a net margin of 17.28%. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the company earned $1.94 earnings per share. The business’s revenue for the quarter was up .7% compared to the same quarter last year. Analysts anticipate that Dover will post 9.09 EPS for the current year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.51 per share. The ex-dividend date was Wednesday, February 28th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.13%. Dover’s payout ratio is 19.60%.

Insider Transactions at Dover

In other news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 23,909 shares in the company, valued at $3,897,406.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Brad M. Cerepak sold 6,000 shares of Dover stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the completion of the sale, the chief financial officer now owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $163.01, for a total value of $3,001,014.10. Following the sale, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,910 shares of company stock worth $4,318,059. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of DOV. CWM LLC lifted its holdings in Dover by 14.5% in the third quarter. CWM LLC now owns 2,089 shares of the industrial products company’s stock valued at $291,000 after acquiring an additional 264 shares during the period. CX Institutional lifted its holdings in Dover by 5.4% in the third quarter. CX Institutional now owns 4,861 shares of the industrial products company’s stock valued at $678,000 after acquiring an additional 251 shares during the period. Czech National Bank increased its position in shares of Dover by 47.7% in the third quarter. Czech National Bank now owns 24,447 shares of the industrial products company’s stock valued at $3,411,000 after buying an additional 7,892 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of Dover by 3.4% in the third quarter. Handelsbanken Fonder AB now owns 82,371 shares of the industrial products company’s stock valued at $11,492,000 after buying an additional 2,706 shares in the last quarter. Finally, Connecticut Wealth Management LLC purchased a new stake in shares of Dover in the third quarter valued at approximately $330,000. 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.