Dover (NYSE:DOV) Sets New 12-Month High – Here’s What Happened

Shares of Dover Co. (NYSE:DOV) reached a new 52-week high on Thursday . The company traded as high as $214.57 and last traded at $207.85, with a volume of 249211 shares traded. The stock had previously closed at $197.36.

Analyst Ratings Changes

A number of research analysts recently issued reports on DOV shares. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Wells Fargo & Company boosted their target price on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday. The Goldman Sachs Group raised their price target on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research report on Monday, October 28th. Finally, Royal Bank of Canada raised their target price on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and an average target price of $218.91.

Dover Trading Down 1.0 %

The business’s 50-day moving average price is $195.57 and its 200-day moving average price is $190.34. The firm has a market capitalization of $27.91 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06.

Dover (NYSE:DOV) last announced its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 23.61% and a net margin of 18.63%. As a group, analysts expect that Dover Co. will post 8.17 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $0.515 per share. The ex-dividend date was Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a yield of 1.01%. Dover’s payout ratio is currently 18.43%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp raised its position in Dover by 0.9% in the third quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock worth $1,191,531,000 after acquiring an additional 56,149 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Dover by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock valued at $616,945,000 after purchasing an additional 25,993 shares during the period. FMR LLC boosted its holdings in Dover by 5.1% during the third quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after buying an additional 149,378 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Dover by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,743 shares of the industrial products company’s stock valued at $188,815,000 after buying an additional 17,193 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Dover by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 811,340 shares of the industrial products company’s stock valued at $155,566,000 after acquiring an additional 9,464 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Company Profile

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.