Dover (NYSE:DOV) Sets New 12-Month High – Should You Buy?

Shares of Dover Co. (NYSE:DOV) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $214.57 and last traded at $207.85, with a volume of 249211 shares changing hands. The stock had previously closed at $197.36.

Analysts Set New Price Targets

Several research firms have issued reports on DOV. Barclays boosted their target price on Dover from $190.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target for the company in a report on Monday, October 28th. The Goldman Sachs Group raised their target price on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. reduced their price target on shares of Dover from $212.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Finally, Oppenheimer reissued an “outperform” rating and issued a $215.00 target price (up previously from $210.00) on shares of Dover in a report on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $212.55.

Dover Stock Performance

The stock has a market capitalization of $27.87 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 2.04 and a beta of 1.23. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The stock’s 50-day simple moving average is $195.54 and its 200 day simple moving average is $190.11.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting the consensus estimate of $2.20. Dover had a net margin of 18.63% and a return on equity of 23.61%. Analysts expect that Dover Co. will post 8.17 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Friday, November 29th. Dover’s dividend payout ratio (DPR) is 18.43%.

Hedge Funds Weigh In On Dover

A number of large investors have recently modified their holdings of the business. FMR LLC raised its holdings in Dover by 5.1% in the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after acquiring an additional 149,378 shares during the period. National Bank of Canada FI raised its holdings in Dover by 313.7% in the 3rd quarter. National Bank of Canada FI now owns 191,127 shares of the industrial products company’s stock valued at $36,647,000 after acquiring an additional 144,930 shares during the period. Barclays PLC grew its position in shares of Dover by 26.6% during the 3rd quarter. Barclays PLC now owns 360,291 shares of the industrial products company’s stock worth $69,082,000 after purchasing an additional 75,670 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Dover during the 3rd quarter worth approximately $14,459,000. Finally, SG Americas Securities LLC grew its position in shares of Dover by 167.7% during the 3rd quarter. SG Americas Securities LLC now owns 101,591 shares of the industrial products company’s stock worth $19,479,000 after purchasing an additional 63,638 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.