Dover Co. (NYSE:DOV) Given Average Recommendation of “Moderate Buy” by Brokerages

Dover Co. (NYSE:DOV) has been given an average rating of “Moderate Buy” by the twelve research firms that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $213.91.

A number of brokerages recently weighed in on DOV. UBS Group started coverage on Dover in a report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. raised their price objective on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price on the stock in a research report on Monday, October 28th. Finally, Barclays raised their price target on Dover from $190.00 to $205.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th.

Hedge Funds Weigh In On Dover

Several institutional investors and hedge funds have recently modified their holdings of DOV. Ashton Thomas Securities LLC purchased a new position in Dover during the third quarter worth about $33,000. McClarren Financial Advisors Inc. lifted its holdings in shares of Dover by 4,400.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 176 shares during the period. Fairscale Capital LLC acquired a new stake in shares of Dover in the second quarter worth approximately $34,000. Ashton Thomas Private Wealth LLC purchased a new stake in Dover in the second quarter valued at approximately $41,000. Finally, Avior Wealth Management LLC increased its position in Dover by 183.5% during the third quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Price Performance

Shares of DOV opened at $201.13 on Friday. The firm has a market capitalization of $27.59 billion, a PE ratio of 17.99, a P/E/G ratio of 2.70 and a beta of 1.22. The stock’s 50 day moving average is $197.33 and its two-hundred day moving average is $187.40. Dover has a twelve month low of $143.96 and a twelve month high of $208.26. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.515 per share. The ex-dividend date is Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.02%. Dover’s dividend payout ratio (DPR) is presently 18.43%.

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.