Dover Corp (NYSE:DOV) shares hit a new 52-week high during mid-day trading on Thursday following a dividend announcement from the company. The stock traded as high as $110.79 and last traded at $110.50, with a volume of 3173 shares traded. The stock had previously closed at $109.46.
The newly announced dividend which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.79%. Dover’s dividend payout ratio (DPR) is presently 39.44%.
A number of analysts have recently commented on DOV shares. Morgan Stanley upped their price target on Dover from $103.00 to $109.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Citigroup upped their price target on Dover from $113.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. upped their price target on Dover from $82.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. ValuEngine raised Dover from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada set a $96.00 price target on Dover and gave the company a “hold” rating in a research note on Friday, October 18th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Dover has a consensus rating of “Hold” and a consensus target price of $101.84.
The business has a 50 day moving average of $100.68 and a 200-day moving average of $96.88. The company has a current ratio of 1.42, a quick ratio of 0.97 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $15.85 billion, a P/E ratio of 22.00, a PEG ratio of 1.63 and a beta of 1.49.
Dover (NYSE:DOV) last posted its earnings results on Thursday, October 17th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.09. Dover had a return on equity of 29.62% and a net margin of 9.08%. The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the prior year, the business earned $1.36 EPS. Dover’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, analysts anticipate that Dover Corp will post 5.85 EPS for the current fiscal year.
In related news, Director Kristiane C. Graham sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $109.57, for a total transaction of $109,570.00. Following the completion of the sale, the director now directly owns 356,704 shares of the company’s stock, valued at approximately $39,084,057.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kristiane C. Graham sold 13,596 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $105.07, for a total value of $1,428,531.72. Following the sale, the director now directly owns 356,704 shares of the company’s stock, valued at $37,478,889.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,514 shares of company stock valued at $2,439,945. 1.70% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of DOV. LLBH Private Wealth Management LLC bought a new stake in Dover during the 2nd quarter worth approximately $65,000. Nuveen Asset Management LLC boosted its position in Dover by 50,089.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,981,474 shares of the industrial products company’s stock worth $198,544,000 after acquiring an additional 1,977,526 shares during the last quarter. APG Asset Management N.V. boosted its position in Dover by 180.3% during the 2nd quarter. APG Asset Management N.V. now owns 691,697 shares of the industrial products company’s stock worth $60,861,000 after acquiring an additional 444,913 shares during the last quarter. Prudential Financial Inc. boosted its position in Dover by 225.4% during the 2nd quarter. Prudential Financial Inc. now owns 551,949 shares of the industrial products company’s stock worth $55,305,000 after acquiring an additional 382,344 shares during the last quarter. Finally, BlackRock Inc. boosted its position in Dover by 3.1% during the 2nd quarter. BlackRock Inc. now owns 12,354,483 shares of the industrial products company’s stock worth $1,237,921,000 after acquiring an additional 371,171 shares during the last quarter. 86.21% of the stock is owned by institutional investors and hedge funds.
About Dover (NYSE:DOV)
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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