Dover (NYSE:DOV) Sets New 1-Year High – Here’s What Happened

Shares of Dover Co. (NYSE:DOV) hit a new 52-week high during 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.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Royal Bank of Canada increased their target price on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Mizuho increased their price objective on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. boosted their target price on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a research note on Monday, October 28th. Finally, Barclays lifted their target price on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.44.

Dover Trading Down 0.2 %

The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. The company has a market capitalization of $27.63 billion, a price-to-earnings ratio of 18.02, a P/E/G ratio of 2.54 and a beta of 1.22. The business’s 50-day moving average price is $188.80 and its two-hundred day moving average price is $183.55.

Dover Announces Dividend

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

Insiders Place Their Bets

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 47,060 shares in the company, valued at $8,706,100. This 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 is available at the SEC website. In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction on Thursday, August 29th. The stock was 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 in the company, valued at approximately $8,706,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,042 shares of company stock worth $7,368,578 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in Dover by 153.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock valued at $466,622,000 after purchasing an additional 1,595,611 shares during the period. American Century Companies Inc. grew its holdings in Dover by 162.2% during the 2nd 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 period. Interval Partners LP raised its position in shares of Dover by 110.0% in the 2nd 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 in the last quarter. Kimelman & Baird LLC acquired a new position in shares of Dover in the 2nd quarter valued at about $17,323,000. Finally, Earnest Partners LLC boosted its position in shares of Dover by 31.5% during the 1st quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock valued at $70,370,000 after purchasing an additional 95,056 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

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.