Analysts Set Dover Corp (DOV) Price Target at $89.27
Shares of Dover Corp (NYSE:DOV) have been assigned a consensus recommendation of “Hold” from the sixteen research firms that are currently covering the company, MarketBeat.com reports. Thirteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $89.27.
Several analysts have weighed in on the stock. ValuEngine raised shares of Dover from a “sell” rating to a “hold” rating in a research note on Saturday, August 18th. Barclays lowered their price objective on shares of Dover from $94.00 to $88.00 and set an “overweight” rating for the company in a research note on Monday, July 9th. Citigroup raised shares of Dover from a “neutral” rating to a “buy” rating and set a $105.00 price objective for the company in a research note on Friday, September 7th. BMO Capital Markets downgraded shares of Dover from an “outperform” rating to a “market perform” rating and set a $90.00 price objective for the company. in a research note on Friday, September 7th. Finally, Morgan Stanley lowered their price objective on shares of Dover from $88.00 to $83.00 and set an “overweight” rating for the company in a research note on Friday, July 20th.
DOV opened at $88.51 on Friday. The firm has a market cap of $13.19 billion, a PE ratio of 21.96, a PEG ratio of 1.54 and a beta of 1.36. The company has a quick ratio of 0.93, a current ratio of 1.35 and a debt-to-equity ratio of 1.05. Dover has a one year low of $70.12 and a one year high of $90.26.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Friday, August 31st were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.17%. This is an increase from Dover’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Thursday, August 30th. Dover’s dividend payout ratio is 47.64%.
In related news, Director Kristiane C. Graham sold 50,000 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $82.75, for a total transaction of $4,137,500.00. Following the transaction, the director now owns 367,324 shares in the company, valued at $30,396,061. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in DOV. Boston Partners increased its position in shares of Dover by 110.3% during the second quarter. Boston Partners now owns 5,131,152 shares of the industrial products company’s stock valued at $375,601,000 after buying an additional 2,691,480 shares during the period. Bank of America Corp DE grew its holdings in Dover by 15.9% in the second quarter. Bank of America Corp DE now owns 5,304,419 shares of the industrial products company’s stock worth $388,283,000 after purchasing an additional 726,930 shares during the period. Cornerstone Wealth Management LLC grew its holdings in Dover by 7,946.7% in the second quarter. Cornerstone Wealth Management LLC now owns 319,697 shares of the industrial products company’s stock worth $4,384,000 after purchasing an additional 315,724 shares during the period. Schroder Investment Management Group grew its holdings in Dover by 80.2% in the second quarter. Schroder Investment Management Group now owns 699,811 shares of the industrial products company’s stock worth $50,925,000 after purchasing an additional 311,500 shares during the period. Finally, Northern Trust Corp grew its holdings in Dover by 15.2% in the second quarter. Northern Trust Corp now owns 2,323,795 shares of the industrial products company’s stock worth $170,101,000 after purchasing an additional 306,116 shares during the period. Institutional investors own 90.69% of the company’s stock.
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual clamps, power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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