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

Dover Co. (NYSE:DOV) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $204.93 and last traded at $204.62, with a volume of 215491 shares. The stock had previously closed at $202.35.

Analyst Ratings Changes

DOV has been the topic of a number of research reports. Royal Bank of Canada raised their target price on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Barclays lifted their price target on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a report on Tuesday. UBS Group initiated coverage on Dover in a report on Wednesday. They issued a “neutral” rating and a $217.00 price target for the company. Finally, Mizuho upped their price objective on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $208.40.

Dover Price Performance

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. The firm has a market cap of $27.99 billion, a P/E ratio of 18.26, a P/E/G ratio of 2.72 and a beta of 1.22. The company has a 50-day moving average of $189.92 and a 200 day moving average of $184.27.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s payout ratio is 18.43%.

Insider Activity at Dover

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,156,700. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of Dover stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the transaction, the senior vice president now directly owns 47,060 shares in the company, valued at $8,706,100. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,042 shares of company stock worth $7,368,578. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. LRI Investments LLC bought a new position in Dover in the 1st quarter worth about $27,000. McClarren Financial Advisors Inc. increased its position in shares of Dover by 4,400.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 176 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Dover during the 3rd quarter valued at about $33,000. Fairscale Capital LLC bought a new position in Dover in the 2nd quarter worth approximately $34,000. Finally, Transcendent Capital Group LLC lifted its position in Dover by 208.0% in the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after buying an additional 156 shares during the last quarter. 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.