Barclays initiated coverage on shares of Dover (NYSE:DOV) in a report issued on Thursday, MarketBeat.com reports. The brokerage issued an overweight rating and a $120.00 price target on the industrial products company’s stock.
DOV has been the topic of a number of other research reports. BMO Capital Markets reaffirmed a buy rating on shares of Dover in a report on Friday, January 26th. Zacks Investment Research cut shares of Dover from a buy rating to a hold rating in a report on Monday, October 23rd. Stifel Nicolaus reaffirmed a hold rating and issued a $100.00 price target on shares of Dover in a report on Thursday, December 14th. Royal Bank of Canada reaffirmed a hold rating and issued a $105.00 price target on shares of Dover in a report on Wednesday, January 17th. Finally, UBS Group initiated coverage on shares of Dover in a report on Monday, January 22nd. They issued a neutral rating on the stock. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Dover currently has a consensus rating of Hold and an average price target of $107.83.
Shares of Dover (NYSE:DOV) opened at $101.21 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. The company has a market cap of $15,629.25, a P/E ratio of 19.65, a P/E/G ratio of 1.33 and a beta of 1.28. Dover has a 1-year low of $75.51 and a 1-year high of $109.06.
Dover (NYSE:DOV) last posted its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. Dover had a net margin of 10.37% and a return on equity of 15.24%. Dover’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 EPS. analysts expect that Dover will post 5.85 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be paid a $0.47 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 1.86%. Dover’s dividend payout ratio is 36.50%.
In related news, VP William T. Bosway sold 6,087 shares of Dover stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $94.66, for a total value of $576,195.42. Following the completion of the transaction, the vice president now directly owns 21,877 shares in the company, valued at approximately $2,070,876.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Dover by 2.4% in the 4th quarter. BlackRock Inc. now owns 10,116,808 shares of the industrial products company’s stock valued at $1,021,698,000 after buying an additional 234,543 shares in the last quarter. Pzena Investment Management LLC grew its position in shares of Dover by 5.9% during the 4th quarter. Pzena Investment Management LLC now owns 5,942,675 shares of the industrial products company’s stock valued at $600,151,000 after purchasing an additional 328,864 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Dover by 17.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,810,306 shares of the industrial products company’s stock valued at $531,702,000 after purchasing an additional 848,098 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Dover by 2.3% during the 3rd quarter. Wells Fargo & Company MN now owns 3,205,690 shares of the industrial products company’s stock valued at $292,968,000 after purchasing an additional 73,375 shares in the last quarter. Finally, Third Point LLC purchased a new position in shares of Dover during the 3rd quarter valued at $150,794,000. Institutional investors and hedge funds own 84.24% of the company’s stock.
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Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.
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