Dover (NYSE:DOV) Sets New 12-Month High – Still a Buy?

Dover Co. (NYSE:DOV) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $203.41 and last traded at $202.46, with a volume of 9260 shares. The stock had previously closed at $192.15.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DOV. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. upped their price target on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. 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 note on Monday, October 28th. Robert W. Baird reissued an “outperform” rating and issued a $208.00 price target on shares of Dover in a research report on Monday, July 22nd. Finally, Mizuho raised their price objective on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and an average target price of $207.44.

Dover Price Performance

The business has a 50 day moving average price of $188.80 and a two-hundred day moving average price of $183.55. 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 stock has a market cap of $27.63 billion, a PE ratio of 18.02, a P/E/G ratio of 2.54 and a beta of 1.22.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.02%. Dover’s payout ratio is 18.43%.

Insider Buying and Selling at Dover

In other news, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the sale, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was 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 owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,042 shares of company stock valued at $7,368,578 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DOV. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Dover by 14.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 202,659 shares of the industrial products company’s stock valued at $35,909,000 after buying an additional 25,562 shares during the period. SG Americas Securities LLC grew its stake in shares of Dover by 75.1% in the first quarter. SG Americas Securities LLC now owns 19,972 shares of the industrial products company’s stock worth $3,539,000 after purchasing an additional 8,563 shares during the last quarter. Cetera Investment Advisers raised its position in Dover by 975.5% during the 1st quarter. Cetera Investment Advisers now owns 24,886 shares of the industrial products company’s stock valued at $4,410,000 after purchasing an additional 22,572 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Dover by 56.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 13,175 shares of the industrial products company’s stock worth $2,334,000 after buying an additional 4,760 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Dover by 13.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 169,808 shares of the industrial products company’s stock worth $30,088,000 after buying an additional 19,933 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

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.