Dover (NYSE:DOV) Stock Breaks Above Two Hundred Day Moving Average - Time to Sell?

Shares of Dover Corporation (NYSE:DOV - Get Free Report) crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $209.73 and traded as high as $214.40. Dover shares last traded at $212.8290, with a volume of 1,447,465 shares traded.

Analyst Upgrades and Downgrades

DOV has been the subject of several recent analyst reports. Wall Street Zen cut Dover from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Wells Fargo & Company upped their price objective on Dover from $229.00 to $233.00 and gave the stock an "overweight" rating in a report on Friday, October 23rd. BMO Capital Markets upgraded Dover from a "market perform" rating to an "outperform" rating and cut their price objective for the stock from $255.00 to $240.00 in a research report on Friday, July 24th. Citigroup raised their target price on Dover from $266.00 to $268.00 and gave the company a "buy" rating in a report on Friday, October 23rd. Finally, Royal Bank Of Canada boosted their target price on shares of Dover from $216.00 to $219.00 and gave the stock a "sector perform" rating in a research report on Friday, October 23rd. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Dover currently has an average rating of "Moderate Buy" and a consensus price target of $238.60.

Dover Price Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.37 and a current ratio of 1.95. The stock has a market capitalization of $28.31 billion, a PE ratio of 24.81, a P/E/G ratio of 1.83 and a beta of 1.10. The company's fifty day simple moving average is $194.92 and its two-hundred day simple moving average is $209.73.

Dover (NYSE:DOV - Get Free Report) last announced 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 net margin of 13.60% and a return on equity of 18.68%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the firm earned $2.62 earnings per share. The company's revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, sell-side analysts predict that Dover Corporation will post 10.73 EPS for the current year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a $0.5250 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $2.10 annualized dividend and a yield of 1.0%. Dover's payout ratio is presently 24.48%.

Insider Transactions at Dover

In other Dover news, CEO Richard Tobin sold 86,440 shares of the firm's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $214.86, for a total transaction of $18,572,498.40. Following the sale, the chief executive officer directly owned 212,855 shares of the company's stock, valued at $45,734,025.30. This trade represents a 28.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Dover

A number of institutional investors have recently modified their holdings of DOV. William Mack & Associates Inc. acquired a new stake in Dover during the third quarter worth approximately $29,000. Three Bridge Wealth Advisors LLC purchased a new stake in shares of Dover in the third quarter valued at $29,000. Clearstead Trust LLC purchased a new stake in shares of Dover in the second quarter valued at $30,000. Keating Financial Advisory Services Inc. acquired a new position in Dover in the second quarter valued at $34,000. Finally, Kelleher Financial Advisors acquired a new position in Dover in the second quarter valued at $38,000. Institutional investors and hedge funds own 84.46% of the company's stock.

About Dover

Dover Corporation is a diversified manufacturer of equipment and components for industrial and commercial markets. Founded in 1955, the company has grown through a combination of product development and acquisitions and serves customers around the world.

Dover's businesses operate across areas including engineered products, clean energy and fueling, imaging and identification, pumps and process solutions, and climate and sustainability technologies. Its products include fueling and vehicle-service equipment, pumps and fluid-handling systems, packaging and marking equipment, and components used in industrial and commercial applications.

The company serves a broad range of end markets, including manufacturing, transportation, energy, food and beverage, and retail.

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