Dover (NYSE:DOV) Now Covered by Analysts at BMO Capital Markets

BMO Capital Markets initiated coverage on shares of Dover (NYSE:DOV) in a report published on Friday morning, MarketBeat reports. The brokerage issued a market perform rating and a $237.00 target price on the industrial products company’s stock.

Several other research analysts have also commented on DOV. Citigroup reissued a “buy” rating on shares of Dover in a report on Monday, January 12th. BNP Paribas Exane initiated coverage on shares of Dover in a research report on Thursday, December 4th. They set a “neutral” rating and a $195.00 target price for the company. Wall Street Zen raised shares of Dover from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. JPMorgan Chase & Co. increased their price target on shares of Dover from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Finally, Weiss Ratings raised shares of Dover from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 6th. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $226.54.

Dover Trading Down 1.2%

Dover stock opened at $206.78 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79. Dover has a fifty-two week low of $143.04 and a fifty-two week high of $237.54. The stock has a market cap of $27.87 billion, a P/E ratio of 26.04, a PEG ratio of 1.61 and a beta of 1.27. The firm’s fifty day moving average price is $216.71 and its 200-day moving average price is $194.71.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.03. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.09 billion. Dover had a return on equity of 17.87% and a net margin of 13.52%.The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company earned $2.20 earnings per share. Equities research analysts forecast that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. Dover’s dividend payout ratio is 26.20%.

Insider Activity at Dover

In other news, CEO Richard J. Tobin sold 76,997 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the transaction, the chief executive officer directly owned 217,979 shares of the company’s stock, valued at approximately $50,723,713.30. This trade represents a 26.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Ivonne M. Cabrera sold 4,000 shares of Dover stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total value of $932,920.00. Following the completion of the transaction, the senior vice president owned 72,188 shares in the company, valued at approximately $16,836,407.24. This represents a 5.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 82,497 shares of company stock valued at $19,196,277. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Dover

A number of large investors have recently bought and sold shares of DOV. Brighton Jones LLC increased its stake in shares of Dover by 62.1% in the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock worth $552,000 after buying an additional 1,128 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Dover by 4.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,377 shares of the industrial products company’s stock valued at $2,526,000 after buying an additional 676 shares during the period. Empowered Funds LLC grew its holdings in Dover by 11.8% in the 1st quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company’s stock worth $2,636,000 after acquiring an additional 1,580 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Dover in the second quarter valued at about $488,000. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Dover by 0.9% during the second quarter. Steward Partners Investment Advisory LLC now owns 13,609 shares of the industrial products company’s stock valued at $2,494,000 after acquiring an additional 118 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Company Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.