Dover (NYSE:DOV) Share Price Breaks Above 200-Day Moving Average - What's Next?

Key Points

• Dover shares moved above their 200-day moving average, reaching $210.45 and last trading near $210.15, signaling improved technical momentum.
• Analysts maintain a “Moderate Buy” consensus, with 11 Buy and five Hold ratings and an average price target of $238.60, despite mixed target adjustments.
• Dover exceeded quarterly expectations with $2.88 EPS and $2.23 billion in revenue, while raising its quarterly dividend to $0.525 per share, or $2.10 annualized.

Dover Corporation (NYSE:DOV - Get Free Report) passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $209.56 and traded as high as $210.45. Dover shares last traded at $210.1480, with a volume of 1,556,740 shares trading hands.

Wall Street Analyst Weigh In

DOV has been the subject of a number of recent research reports. Weiss Ratings downgraded Dover from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, September 2nd. Mizuho reduced their price target on Dover from $270.00 to $245.00 and set an "outperform" rating for the company in a report on Thursday, October 15th. Citigroup boosted their price target on Dover from $266.00 to $268.00 and gave the company a "buy" rating in a research note on Friday, October 23rd. Royal Bank Of Canada increased their price objective on Dover from $216.00 to $219.00 and gave the stock a "sector perform" rating in a report on Friday, October 23rd. Finally, Wolfe Research reaffirmed an "outperform" rating and set a $262.00 price objective on shares of Dover in a research report on Thursday, July 9th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $238.60.

Dover Stock Performance

The stock has a fifty day moving average price of $193.82 and a 200 day moving average price of $209.56. The company has a current ratio of 1.95, a quick ratio of 1.37 and a debt-to-equity ratio of 0.34. The firm has a market cap of $27.95 billion, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 1.79 and a beta of 1.13.

Dover (NYSE:DOV - Get Free Report) last posted its earnings results on Thursday, October 22nd. The industrial products company reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.03. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.22 billion. Dover had a return on equity of 18.68% and a net margin of 13.60%. The company's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.62 EPS. As a group, analysts predict that Dover Corporation will post 10.72 earnings per share for the current year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were paid a $0.5250 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Monday, August 31st. This is a boost from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio (DPR) is 24.48%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Eads & Heald Wealth Management grew its position in Dover by 13.2% during the third quarter. Eads & Heald Wealth Management now owns 8,655 shares of the industrial products company's stock worth $1,619,000 after buying an additional 1,007 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Dover during the third quarter valued at about $9,515,000. ProShare Advisors LLC raised its holdings in Dover by 4.9% in the 3rd quarter. ProShare Advisors LLC now owns 788,983 shares of the industrial products company's stock valued at $147,579,000 after acquiring an additional 36,601 shares in the last quarter. Vise Technologies Inc. raised its holdings in Dover by 38.8% in the 3rd quarter. Vise Technologies Inc. now owns 4,840 shares of the industrial products company's stock valued at $905,000 after acquiring an additional 1,352 shares in the last quarter. Finally, MGO One Seven LLC lifted its position in shares of Dover by 2.2% in the 3rd quarter. MGO One Seven LLC now owns 2,804 shares of the industrial products company's stock worth $525,000 after acquiring an additional 60 shares during the period. 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.

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