Dover Corporation (NYSE:DOV) Stock Rated “Moderate Buy” by Wall Street Analysts

Shares of Dover Corporation (NYSE:DOV) have received a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $238.60.

A number of brokerages have weighed in on DOV. Wells Fargo & Company increased their target price on shares of Dover from $229.00 to $233.00 and gave the stock an “overweight” rating in a report on Friday. Citigroup lifted their price target on shares of Dover from $266.00 to $268.00 and gave the company a “buy” rating in a report on Friday. Wall Street Zen downgraded shares of Dover from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Wolfe Research reiterated an “outperform” rating and set a $262.00 price objective on shares of Dover in a research note on Thursday, July 9th. Finally, Royal Bank Of Canada raised their target price on shares of Dover from $216.00 to $219.00 and gave the stock a “sector perform” rating in a report on Friday.

Dover Trading Up 1.6%

NYSE:DOV opened at $202.35 on Tuesday. The company has a market cap of $26.92 billion, a PE ratio of 23.58, a P/E/G ratio of 1.71 and a beta of 1.13. The business’s 50 day moving average is $193.58 and its two-hundred day moving average is $209.46. The company has a quick ratio of 1.37, a current ratio of 1.95 and a debt-to-equity ratio of 0.34. Dover has a 52 week low of $176.40 and a 52 week high of $237.54.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, October 22nd. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.03. Dover had a return on equity of 18.68% and a net margin of 13.60%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the company posted $2.62 EPS. The business’s revenue was up 7.5% compared to the same quarter last year. On average, analysts predict that Dover will post 10.71 EPS for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were given a dividend of $0.5250 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, August 31st. This is a positive change from Dover’s previous quarterly dividend of $0.52. Dover’s payout ratio is currently 24.48%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DOV. BlackRock Inc. bought a new stake in Dover in the second quarter valued at $2,347,134,000. Bank of America Corp DE acquired a new position in shares of Dover during the second quarter valued at $625,375,000. Bank of New York Mellon Corp acquired a new position in shares of Dover during the second quarter valued at $591,207,000. Hsbc Holdings PLC bought a new position in shares of Dover during the second quarter worth about $211,269,000. Finally, Legal & General Group Plc bought a new position in shares of Dover during the second quarter worth about $183,574,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Company Profile

Dover Corporation (NYSE: DOV) is a diversified manufacturer that develops and produces specialized equipment, components and engineered systems for industrial and commercial customers. Its businesses serve markets including fluid handling, equipment manufacturing, clean energy, fueling, refrigeration, heating and cooling, printing, and vehicle service.

The company’s products include pumps, compressors, controls, dispensing and fueling equipment, refrigeration systems, heat-transfer technologies, industrial machinery, vehicle lifts and service equipment, and components used in engineered industrial applications.