Dover Corporation (NYSE:DOV) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Dover Corporation has received a consensus rating of "Moderate Buy" from twelve research firms, with an average price target of $213.42 among analysts.
• Several investment firms have recently increased their price targets for Dover, with Mizuho setting a new target of $225.00 and JPMorgan Chase & Co. adjusting theirs to $211.00.
• Dover reported $2.44 EPS for the last quarter, exceeding expectations, along with a 29.29% net margin and a 5.2% increase in revenue compared to the previous year.

Shares of Dover Corporation (NYSE:DOV - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twelve analysts that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $213.92.

A number of research analysts have recently commented on the stock. Royal Bank Of Canada set a $206.00 price target on shares of Dover and gave the company a "sector perform" rating in a research report on Friday. Robert W. Baird boosted their target price on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research report on Friday. Mizuho raised their price target on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Morgan Stanley began coverage on Dover in a report on Monday, April 14th. They set an "equal weight" rating and a $185.00 price objective for the company. Finally, Wells Fargo & Company lifted their target price on shares of Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a research report on Friday.

Dover Stock Performance

Shares of DOV traded down $0.86 during trading hours on Friday, hitting $184.07. The company's stock had a trading volume of 336,853 shares, compared to its average volume of 1,065,777. The company has a market cap of $25.24 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 1.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. The business has a 50 day simple moving average of $182.60 and a two-hundred day simple moving average of $183.15. Dover has a 52-week low of $143.04 and a 52-week high of $222.31.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.39 by $0.05. Dover had a net margin of 29.29% and a return on equity of 18.19%. The company had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the previous year, the company earned $2.36 earnings per share. Dover's revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities analysts expect that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Friday, May 30th. Dover's payout ratio is 12.42%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DOV. Nuveen LLC purchased a new position in shares of Dover in the first quarter worth $526,081,000. Norges Bank purchased a new position in shares of Dover in the fourth quarter worth $316,228,000. GAMMA Investing LLC increased its stake in shares of Dover by 35,832.0% in the first quarter. GAMMA Investing LLC now owns 563,054 shares of the industrial products company's stock worth $98,917,000 after buying an additional 561,487 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of Dover in the fourth quarter worth $99,017,000. Finally, Adage Capital Partners GP L.L.C. increased its position in Dover by 31.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company's stock valued at $409,530,000 after purchasing an additional 524,092 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.