Research Analysts’ Weekly Ratings Updates for Dover (DOV)

Several analysts have recently updated their ratings and price targets for Dover (NYSE: DOV):

  • 2/5/2024 – Dover had its price target raised by analysts at Barclays PLC from $150.00 to $163.00. They now have an “equal weight” rating on the stock.
  • 2/5/2024 – Dover was upgraded by analysts at Seaport Res Ptn from a “neutral” rating to a “buy” rating.
  • 2/2/2024 – Dover had its price target raised by analysts at Royal Bank of Canada from $146.00 to $153.00. They now have a “sector perform” rating on the stock.
  • 2/2/2024 – Dover had its price target raised by analysts at Oppenheimer Holdings Inc. from $175.00 to $177.00. They now have an “outperform” rating on the stock.
  • 2/2/2024 – Dover was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 12/19/2023 – Dover had its price target raised by analysts at Wells Fargo & Company from $140.00 to $167.00. They now have an “equal weight” rating on the stock.

Dover Stock Performance

NYSE DOV traded up $1.44 during trading on Monday, reaching $161.97. The company’s stock had a trading volume of 1,032,545 shares, compared to its average volume of 967,485. The business’s fifty day moving average price is $150.58 and its 200-day moving average price is $143.47. Dover Co. has a twelve month low of $127.25 and a twelve month high of $162.48. The firm has a market cap of $22.66 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 1.64 and a beta of 1.26. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 1.40.

Dover (NYSE:DOVGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.44 by $0.01. Dover had a return on equity of 25.95% and a net margin of 12.52%. The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the firm earned $2.16 EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, analysts anticipate that Dover Co. will post 9.07 EPS for the current fiscal year.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 29th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $2.04 annualized dividend and a yield of 1.26%. Dover’s dividend payout ratio is presently 27.13%.

Insider Buying and Selling

In related news, CFO Brad M. Cerepak sold 14,000 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $142.00, for a total transaction of $1,988,000.00. Following the sale, the chief financial officer now owns 35,938 shares of the company’s stock, valued at $5,103,196. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Dover news, CFO Brad M. Cerepak sold 14,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $142.00, for a total transaction of $1,988,000.00. Following the completion of the sale, the chief financial officer now owns 35,938 shares of the company’s stock, valued at $5,103,196. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Anthony K. Kosinski sold 664 shares of Dover stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $141.64, for a total transaction of $94,048.96. Following the transaction, the vice president now owns 5,333 shares in the company, valued at approximately $755,366.12. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Institutional Trading of Dover

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Legacy Financial Advisors Inc. grew its position in shares of Dover by 1.7% in the 4th quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock worth $577,000 after acquiring an additional 63 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in Dover by 4.1% in the fourth quarter. Manchester Capital Management LLC now owns 1,752 shares of the industrial products company’s stock worth $269,000 after purchasing an additional 69 shares during the period. CX Institutional raised its holdings in shares of Dover by 1.5% during the fourth quarter. CX Institutional now owns 4,933 shares of the industrial products company’s stock worth $759,000 after purchasing an additional 72 shares during the period. First Commonwealth Financial Corp PA raised its holdings in shares of Dover by 2.6% during the fourth quarter. First Commonwealth Financial Corp PA now owns 3,176 shares of the industrial products company’s stock worth $430,000 after purchasing an additional 80 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Dover by 0.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,076 shares of the industrial products company’s stock valued at $2,801,000 after buying an additional 83 shares during the last quarter. Institutional investors own 83.97% of the company’s stock.

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 aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.

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