Dover (NYSE:DOV) Hits New 12-Month High – What’s Next?

Dover Corporation (NYSE:DOV) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $216.10 and last traded at $215.1190, with a volume of 51979 shares trading hands. The stock had previously closed at $211.66.

Analyst Ratings Changes

A number of analysts recently weighed in on DOV shares. Citigroup reaffirmed a “buy” rating on shares of Dover in a report on Monday, January 12th. The Goldman Sachs Group restated a “buy” rating and issued a $224.00 target price on shares of Dover in a research report on Saturday, January 31st. Barclays set a $206.00 price target on Dover in a report on Monday. Oppenheimer increased their price objective on Dover from $228.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Finally, Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $224.00.

Dover Trading Up 2.8%

The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $201.20 and a 200-day moving average price of $184.95. The company has a market capitalization of $30.69 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 1.67 and a beta of 1.29.

Dover (NYSE:DOV) last announced its earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.03. Dover had a return on equity of 17.87% and a net margin of 13.52%.The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter last year, the business posted $2.20 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, sell-side analysts predict that Dover Corporation will post 9.45 EPS for the current year.

Insider Activity at Dover

In other news, CFO Christopher B. Woenker sold 1,627 shares of the stock in a transaction on Friday, November 28th. The stock was sold at an average price of $186.04, for a total transaction of $302,687.08. Following the completion of the sale, the chief financial officer owned 2,553 shares in the company, valued at approximately $474,960.12. This represents a 38.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $190.80, for a total value of $501,804.00. Following the sale, the senior vice president directly owned 72,968 shares of the company’s stock, valued at approximately $13,922,294.40. This represents a 3.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dover

Several hedge funds have recently modified their holdings of the stock. Financial Life Planners purchased a new stake in Dover during the third quarter valued at about $25,000. AdvisorShares Investments LLC acquired a new stake in shares of Dover during the second quarter valued at approximately $30,000. Tompkins Financial Corp lifted its position in shares of Dover by 102.7% in the 4th quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 77 shares in the last quarter. Vermillion & White Wealth Management Group LLC boosted its stake in Dover by 122.4% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 93 shares during the period. Finally, Caldwell Trust Co acquired a new position in Dover in the 2nd quarter worth approximately $31,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

About Dover

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.