Dover (NYSE:DOV) Reaches New 1-Year High – Time to Buy?

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

Analysts Set New Price Targets

DOV has been the topic of several research analyst reports. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price on the stock in a research note on Monday, October 28th. JPMorgan Chase & Co. upped their price objective on shares of Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Oppenheimer reiterated an “outperform” rating and issued a $215.00 target price (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their price target on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Finally, UBS Group started coverage on Dover in a research report on Wednesday. They set a “neutral” rating and a $217.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $208.40.

Dover Stock Down 1.0 %

The business has a 50 day moving average price of $191.02 and a 200 day moving average price of $184.53. The firm has a market capitalization of $27.72 billion, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 2.74 and a beta of 1.22. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Friday, November 29th. Dover’s dividend payout ratio (DPR) is currently 18.43%.

Insider Activity

In related news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction dated 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 owns 12,324 shares in the company, valued at $2,156,700. This trade represents a 54.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the sale, the chief executive officer now owns 182,928 shares in the company, valued at $33,285,578.88. The trade was a 12.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,042 shares of company stock valued at $7,368,578. Insiders own 1.30% of the company’s stock.

Institutional Trading of Dover

Hedge funds and other institutional investors have recently modified their holdings of the stock. LRI Investments LLC acquired a new position in shares of Dover during the first quarter valued at $28,000. Ashton Thomas Securities LLC acquired a new position in Dover during the 3rd quarter valued at about $33,000. McClarren Financial Advisors Inc. grew 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 worth $32,000 after buying an additional 176 shares during the period. Fairscale Capital LLC bought a new stake in shares of Dover in the 2nd quarter valued at about $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Dover during the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

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.