Dover (NYSE:DOV) Sets New 12-Month High – What’s Next?

Dover Corporation (NYSE:DOV)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $225.23 and last traded at $225.0340, with a volume of 1283827 shares changing hands. The stock had previously closed at $223.66.

Analyst Ratings Changes

DOV has been the subject of several research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Dover in a research report on Monday, December 29th. Wall Street Zen lowered Dover from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Robert W. Baird set a $255.00 target price on Dover in a research report on Friday, January 30th. Royal Bank Of Canada increased their price target on shares of Dover from $199.00 to $209.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Finally, Barclays set a $206.00 price objective on shares of Dover in a report on Monday, February 2nd. Eight investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

Dover Price Performance

The company’s 50-day simple moving average is $202.00 and its 200-day simple moving average is $185.14. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79. The company has a market capitalization of $30.86 billion, a PE ratio of 28.34, a P/E/G ratio of 1.72 and a beta of 1.29.

Dover (NYSE:DOV) last announced its earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.03. Dover had a net margin of 13.52% and a return on equity of 17.87%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the firm earned $2.20 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current year.

Insider Activity at Dover

In related news, CFO Christopher B. Woenker sold 1,627 shares of Dover stock in a transaction on Friday, November 28th. The shares were sold at an average price of $186.04, for a total value of $302,687.08. Following the transaction, the chief financial officer directly owned 2,553 shares in the company, valued at $474,960.12. This trade represents a 38.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total transaction of $501,804.00. Following the completion of the transaction, the senior vice president directly owned 72,968 shares in the company, valued at $13,922,294.40. This represents a 3.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Dover

Several hedge funds and other institutional investors have recently made changes to their positions in DOV. Frank Rimerman Advisors LLC increased its stake in shares of Dover by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 2,439 shares of the industrial products company’s stock worth $476,000 after purchasing an additional 52 shares in the last quarter. Tectonic Advisors LLC grew its holdings in Dover by 1.7% in the fourth quarter. Tectonic Advisors LLC now owns 3,176 shares of the industrial products company’s stock valued at $620,000 after purchasing an additional 54 shares during the period. Kingsview Wealth Management LLC increased its stake in Dover by 2.3% during the fourth quarter. Kingsview Wealth Management LLC now owns 2,506 shares of the industrial products company’s stock worth $489,000 after acquiring an additional 56 shares during the last quarter. Mission Wealth Management LP increased its position in shares of Dover by 0.8% in the third quarter. Mission Wealth Management LP now owns 7,493 shares of the industrial products company’s stock worth $1,250,000 after acquiring an additional 58 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its holdings in shares of Dover by 14.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 455 shares of the industrial products company’s stock valued at $89,000 after buying an additional 59 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Company Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.