Dover (NYSE:DOV) Hits New 1-Year High at $192.87

Shares of Dover Co. (NYSE:DOV - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $192.87 and last traded at $191.92, with a volume of 21744 shares trading hands. The stock had previously closed at $191.03.

Analysts Set New Price Targets

DOV has been the topic of a number of recent research reports. Robert W. Baird reaffirmed an "outperform" rating and issued a $208.00 target price on shares of Dover in a research note on Monday, July 22nd. Mizuho increased their price target on Dover from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, July 26th. Wolfe Research raised Dover to a "hold" rating in a research note on Friday. Finally, Royal Bank of Canada increased their price target on Dover from $192.00 to $193.00 and gave the stock a "sector perform" rating in a research note on Friday, July 26th. Four investment 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $192.63.

Dover Trading Up 0.9 %

The firm has a market capitalization of $26.49 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 2.17 and a beta of 1.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53. The business has a fifty day moving average price of $181.95 and a 200 day moving average price of $179.71.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the prior year, the firm earned $2.05 EPS. The firm's quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts forecast that Dover Co. will post 9.17 earnings per share for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $0.515 dividend. This is an increase from Dover's previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Friday, August 30th. Dover's dividend payout ratio is currently 19.79%.

Insider Buying and Selling at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the company's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the transaction, the senior vice president now directly owns 47,060 shares of the company's stock, valued at approximately $8,706,100. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Brad M. Cerepak sold 4,341 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total transaction of $801,305.19. Following the transaction, the chief financial officer now owns 12,324 shares of the company's stock, valued at $2,274,887.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction dated 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 approximately $8,706,100. The disclosure for this sale can be found here. Insiders sold a total of 45,383 shares of company stock valued at $8,169,883 in the last ninety days. Insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Dover

Several large investors have recently modified their holdings of DOV. Price T Rowe Associates Inc. MD lifted its position in shares of Dover by 153.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company's stock worth $466,622,000 after purchasing an additional 1,595,611 shares during the last quarter. American Century Companies Inc. lifted its holdings in Dover by 162.2% in the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company's stock worth $124,195,000 after acquiring an additional 425,768 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Dover by 50.7% in the fourth quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company's stock worth $189,433,000 after acquiring an additional 414,481 shares during the last quarter. Interval Partners LP lifted its holdings in Dover by 110.0% in the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company's stock worth $105,216,000 after acquiring an additional 305,436 shares during the last quarter. Finally, Kimelman & Baird LLC bought a new position in Dover in the second quarter worth about $17,323,000. 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.