Dover Co. (NYSE:DOV) Receives $207.75 Consensus PT from Analysts

Shares of Dover Co. (NYSE:DOV) have been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $207.75.

A number of equities analysts recently commented on the company. Citigroup cut their price objective on Dover from $244.00 to $201.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. lifted their price objective on Dover from $190.00 to $211.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $176.00 price target on shares of Dover in a research note on Friday, April 25th. Morgan Stanley started coverage on Dover in a research note on Monday, April 14th. They issued an “equal weight” rating and a $185.00 price target on the stock. Finally, Robert W. Baird dropped their price target on Dover from $238.00 to $219.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th.

Dover Stock Down 1.3%

Shares of NYSE DOV opened at $178.96 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. Dover has a 52 week low of $143.04 and a 52 week high of $222.31. The stock has a market capitalization of $24.54 billion, a P/E ratio of 9.20, a PEG ratio of 2.06 and a beta of 1.27. The stock’s fifty day moving average is $172.41 and its 200 day moving average is $185.78.

Dover (NYSE:DOV) last released its earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.06. Dover had a return on equity of 21.03% and a net margin of 32.95%. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the business posted $1.95 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. Sell-side analysts forecast that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.15%. Dover’s dividend payout ratio is 12.41%.

Institutional Investors Weigh In On Dover

Institutional investors have recently bought and sold shares of the stock. Wolverine Asset Management LLC grew its holdings in Dover by 78.6% during the fourth quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company’s stock worth $2,345,000 after buying an additional 5,500 shares in the last quarter. Westpac Banking Corp grew its holdings in Dover by 1,332.8% during the fourth quarter. Westpac Banking Corp now owns 24,486 shares of the industrial products company’s stock worth $4,594,000 after buying an additional 22,777 shares in the last quarter. Rhumbline Advisers grew its holdings in Dover by 5.8% during the first quarter. Rhumbline Advisers now owns 274,688 shares of the industrial products company’s stock worth $48,257,000 after buying an additional 14,996 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in Dover by 1.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 27,626 shares of the industrial products company’s stock valued at $5,183,000 after purchasing an additional 444 shares during the period. Finally, Bank of Montreal Can grew its stake in Dover by 3.7% in the 4th quarter. Bank of Montreal Can now owns 154,311 shares of the industrial products company’s stock valued at $28,949,000 after purchasing an additional 5,469 shares during the period. Institutional investors own 84.46% of the company’s stock.

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.