Dover (NYSE:DOV) Sets New 12-Month High – Should You Buy?

Shares of Dover Co. (NYSE:DOV) hit a new 52-week high during trading on Thursday . The company traded as high as $214.57 and last traded at $207.85, with a volume of 249211 shares traded. The stock had previously closed at $197.36.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DOV. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Wells Fargo & Company lowered their target price on shares of Dover from $205.00 to $200.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. UBS Group began coverage on shares of Dover in a report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 target price on the stock. Citigroup lowered their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Dover from $212.00 to $208.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $212.55.

Dover Trading Up 2.9 %

The stock has a market cap of $27.87 billion, a P/E ratio of 18.17, a P/E/G ratio of 2.04 and a beta of 1.23. 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 stock has a 50-day moving average price of $195.54 and a 200-day moving average price of $190.11.

Dover (NYSE:DOV) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a return on equity of 23.61% and a net margin of 18.63%. On average, equities research analysts expect that Dover Co. will post 8.17 EPS for the current year.

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 given a $0.515 dividend. The ex-dividend date was Friday, November 29th. This represents a $2.06 annualized dividend and a yield of 1.01%. Dover’s payout ratio is currently 18.43%.

Hedge Funds Weigh In On Dover

Hedge funds have recently made changes to their positions in the business. Versor Investments LP purchased a new position in shares of Dover during the third quarter valued at approximately $1,920,000. Brendel Financial Advisors LLC grew its stake in Dover by 347.7% in the third quarter. Brendel Financial Advisors LLC now owns 22,772 shares of the industrial products company’s stock worth $4,366,000 after purchasing an additional 17,685 shares during the period. Assenagon Asset Management S.A. grew its stake in Dover by 195.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock worth $17,077,000 after purchasing an additional 60,235 shares during the period. Principal Financial Group Inc. grew its stake in Dover by 3.1% in the third quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock worth $34,100,000 after purchasing an additional 5,372 shares during the period. Finally, Empowered Funds LLC grew its stake in Dover by 54.3% in the third quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock worth $2,523,000 after purchasing an additional 4,629 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.