Analysts Set Dover Corp (DOV) PT at $108.09

Dover Corp (NYSE:DOV) has received a consensus recommendation of “Hold” from the eighteen research firms that are presently covering the firm, Marketbeat.com reports. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $108.09.

DOV has been the topic of a number of research analyst reports. BMO Capital Markets restated a “buy” rating on shares of Dover in a report on Friday, January 26th. Stifel Nicolaus restated a “hold” rating and set a $112.00 price target (up from $100.00) on shares of Dover in a report on Tuesday, January 16th. Seaport Global Securities reaffirmed a “hold” rating and set a $110.00 target price on shares of Dover in a research report on Friday, February 2nd. Royal Bank of Canada reaffirmed a “hold” rating and set a $105.00 target price on shares of Dover in a research report on Wednesday, January 17th. Finally, JPMorgan Chase lowered Dover from an “overweight” rating to a “neutral” rating in a research report on Monday, March 26th.

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Shares of Dover stock traded up $0.60 on Friday, reaching $97.73. 821,915 shares of the company’s stock were exchanged, compared to its average volume of 1,368,881. The stock has a market capitalization of $14,900.41, a price-to-earnings ratio of 24.44, a PEG ratio of 1.27 and a beta of 1.30. Dover has a 52 week low of $76.47 and a 52 week high of $109.06. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.40.

Dover (NYSE:DOV) last posted its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. Dover had a return on equity of 15.24% and a net margin of 10.37%. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 EPS. equities research analysts forecast that Dover will post 5.86 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Tuesday, February 27th. Dover’s payout ratio is 46.65%.

In related news, insider Stephen Gary Kennon sold 15,702 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $102.01, for a total value of $1,601,761.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Anthony K. Kosinski sold 895 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $104.34, for a total value of $93,384.30. Following the completion of the sale, the vice president now directly owns 8,516 shares of the company’s stock, valued at $888,559.44. The disclosure for this sale can be found here. Insiders sold a total of 19,897 shares of company stock valued at $2,031,745 over the last three months. 2.50% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cerebellum GP LLC purchased a new stake in Dover in the 4th quarter valued at $133,000. Tower Research Capital LLC TRC raised its position in Dover by 891.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock valued at $179,000 after buying an additional 1,596 shares during the last quarter. Somerville Kurt F purchased a new stake in Dover in the 4th quarter valued at $202,000. Associated Banc Corp purchased a new stake in Dover in the 4th quarter valued at $202,000. Finally, Hemenway Trust Co LLC purchased a new stake in Dover in the 4th quarter valued at $203,000. 88.17% of the stock is owned by institutional investors and hedge funds.

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About Dover

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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