Dover Co. (DOV) Receives $103.50 Average Target Price from Analysts

Dover Co. (NYSE:DOV) has earned a consensus rating of “Hold” from the seventeen research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $103.50.

A number of analysts recently issued reports on DOV shares. Zacks Investment Research raised Dover from a “hold” rating to a “buy” rating and set a $119.00 target price for the company in a research report on Friday, February 2nd. BMO Capital Markets reissued a “buy” rating on shares of Dover in a research report on Friday, January 26th. Seaport Global Securities reissued a “hold” rating and issued a $110.00 target price on shares of Dover in a research report on Friday, February 2nd. SunTrust Banks increased their price objective on Dover to $106.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. Finally, Stifel Nicolaus increased their price objective on Dover from $102.00 to $104.00 and gave the stock a “hold” rating in a research report on Monday, April 30th.

In other Dover news, SVP Patrick Burns bought 510 shares of the business’s stock in a transaction dated Friday, March 2nd. The stock was acquired at an average cost of $97.51 per share, with a total value of $49,730.10. Following the purchase, the senior vice president now owns 1,883 shares in the company, valued at approximately $183,611.33. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Paul Goldberg sold 3,300 shares of the stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $102.00, for a total value of $336,600.00. Following the transaction, the vice president now directly owns 4,545 shares of the company’s stock, valued at $463,590. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. NewFocus Financial Group LLC raised its stake in shares of Dover by 1.4% during the 4th quarter. NewFocus Financial Group LLC now owns 39,187 shares of the industrial products company’s stock worth $3,957,000 after buying an additional 528 shares in the last quarter. Reilly Herbert Faulkner III raised its stake in shares of Dover by 1.1% during the 4th quarter. Reilly Herbert Faulkner III now owns 47,655 shares of the industrial products company’s stock worth $4,813,000 after buying an additional 529 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Dover by 4.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 13,707 shares of the industrial products company’s stock worth $1,384,000 after buying an additional 584 shares in the last quarter. Global Financial Private Capital LLC increased its stake in Dover by 15.8% in the 4th quarter. Global Financial Private Capital LLC now owns 4,526 shares of the industrial products company’s stock valued at $457,000 after purchasing an additional 616 shares in the last quarter. Finally, Nuance Investments LLC increased its stake in Dover by 1.6% in the 4th quarter. Nuance Investments LLC now owns 40,563 shares of the industrial products company’s stock valued at $4,096,000 after purchasing an additional 651 shares in the last quarter. 85.65% of the stock is owned by institutional investors and hedge funds.

Shares of Dover opened at $79.11 on Friday, according to MarketBeat.com. The stock has a market capitalization of $12.43 billion, a P/E ratio of 19.63, a PEG ratio of 1.28 and a beta of 1.32. The company has a quick ratio of 0.95, a current ratio of 1.42 and a debt-to-equity ratio of 0.68. Dover has a 52-week low of $62.10 and a 52-week high of $88.11.

Dover (NYSE:DOV) last announced its earnings results on Friday, April 27th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.03. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Dover had a return on equity of 16.48% and a net margin of 9.71%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 EPS. research analysts forecast that Dover will post 4.81 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Thursday, May 31st will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $1.88 dividend on an annualized basis and a yield of 2.38%. Dover’s payout ratio is 46.65%.

Dover Company Profile

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of fuels for drilling and production, bearings and compression, and automation end markets.

Analyst Recommendations for Dover (NYSE:DOV)

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