Dover (DOV) Earns “Hold” Rating from Stifel Nicolaus

Stifel Nicolaus reissued their hold rating on shares of Dover (NYSE:DOV) in a research note issued to investors on Thursday morning. They currently have a $100.00 price objective on the industrial products company’s stock.

A number of other equities analysts have also recently commented on DOV. Robert W. Baird set a $91.00 target price on shares of Dover and gave the company a buy rating in a report on Thursday, August 24th. BMO Capital Markets reaffirmed a buy rating and issued a $94.00 target price on shares of Dover in a report on Sunday, August 27th. Royal Bank of Canada reaffirmed a hold rating and issued a $91.00 target price on shares of Dover in a report on Wednesday, September 6th. Seaport Global Securities reaffirmed a neutral rating on shares of Dover in a report on Wednesday, September 13th. Finally, Morgan Stanley lifted their target price on shares of Dover from $95.00 to $97.00 and gave the company an overweight rating in a report on Tuesday, September 19th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Dover currently has a consensus rating of Hold and an average price target of $95.31.

Dover (DOV) opened at $97.48 on Thursday. The company has a market cap of $15,186.51, a price-to-earnings ratio of 27.00, a PEG ratio of 1.90 and a beta of 1.29. Dover has a 1-year low of $74.53 and a 1-year high of $99.15. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.32 and a quick ratio of 0.87.

Dover (NYSE:DOV) last announced its earnings results on Thursday, October 19th. The industrial products company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Dover had a net margin of 8.91% and a return on equity of 14.10%. The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 EPS. analysts predict that Dover will post 3.94 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were given a $0.47 dividend. The ex-dividend date was Wednesday, November 29th. This represents a $1.88 dividend on an annualized basis and a yield of 1.93%. Dover’s dividend payout ratio (DPR) is 43.72%.

In related news, VP Paul Goldberg sold 4,400 shares of Dover stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $95.25, for a total value of $419,100.00. Following the transaction, the vice president now directly owns 4,070 shares in the company, valued at approximately $387,667.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP William T. Bosway sold 6,087 shares of Dover stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $94.66, for a total transaction of $576,195.42. Following the completion of the transaction, the vice president now owns 21,877 shares in the company, valued at $2,070,876.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,276 shares of company stock worth $6,234,042. 2.50% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. Smith Shellnut Wilson LLC ADV purchased a new stake in shares of Dover during the 3rd quarter worth $286,000. IFM Investors Pty Ltd purchased a new stake in shares of Dover during the 3rd quarter worth $440,000. Independent Advisor Alliance boosted its position in shares of Dover by 13.8% during the 3rd quarter. Independent Advisor Alliance now owns 8,232 shares of the industrial products company’s stock worth $772,000 after purchasing an additional 997 shares in the last quarter. Griffin Asset Management Inc. purchased a new stake in shares of Dover during the 3rd quarter worth $2,828,000. Finally, California Public Employees Retirement System boosted its position in shares of Dover by 2.2% during the 3rd quarter. California Public Employees Retirement System now owns 415,576 shares of the industrial products company’s stock worth $37,979,000 after purchasing an additional 9,128 shares in the last quarter. Hedge funds and other institutional investors own 84.60% of the company’s stock.

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About Dover

Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.

Analyst Recommendations for Dover (NYSE:DOV)

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