Dover Co. (NYSE:DOV) Receives Average Rating of “Moderate Buy” from Brokerages

Dover Co. (NYSE:DOV) has been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $212.91.

DOV has been the topic of a number of recent analyst reports. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. The Goldman Sachs Group lifted their price objective on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Mizuho lifted their price objective on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. UBS Group initiated coverage on Dover in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 price objective on the stock. Finally, Wells Fargo & Company dropped their price objective on Dover from $205.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th.

Dover Trading Up 1.2 %

Dover stock opened at $188.93 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. The business’s 50-day simple moving average is $196.72 and its 200-day simple moving average is $188.71. The firm has a market capitalization of $25.92 billion, a PE ratio of 16.90, a PEG ratio of 2.70 and a beta of 1.22. Dover has a 52 week low of $143.96 and a 52 week high of $208.26.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Friday, November 29th. Dover’s payout ratio is 18.43%.

Institutional Investors Weigh In On Dover

A number of institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in Dover by 0.9% during the third quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock valued at $1,191,531,000 after purchasing an additional 56,149 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Dover by 0.8% during the third quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock valued at $616,945,000 after purchasing an additional 25,993 shares in the last quarter. FMR LLC boosted its holdings in Dover by 5.1% during the third quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after purchasing an additional 149,378 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Dover by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock valued at $271,702,000 after purchasing an additional 60,912 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Dover by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,743 shares of the industrial products company’s stock valued at $188,815,000 after purchasing an additional 17,193 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

About Dover

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.