Dover (NYSE:DOV) Now Covered by Analysts at UBS Group

UBS Group initiated coverage on shares of Dover (NYSE:DOV) in a research note released on Wednesday, MarketBeat reports. The firm issued a neutral rating and a $217.00 price objective on the industrial products company’s stock.

Several other analysts have also issued reports on DOV. Royal Bank of Canada upped their target price on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Tuesday. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a research note on Monday, October 28th. JPMorgan Chase & Co. upped their target price on shares of Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Barclays upped their target price on shares of Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.40.

Dover Stock Performance

Shares of DOV stock opened at $201.18 on Wednesday. The firm has a market capitalization of $27.60 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 2.74 and a beta of 1.22. The firm has a fifty day simple moving average of $191.53 and a two-hundred day simple moving average of $184.67. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. Dover has a 12 month low of $136.50 and a 12 month high of $204.93.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.06 annualized dividend and a dividend yield of 1.02%. Dover’s payout ratio is 18.43%.

Insider Transactions at Dover

In other news, SVP Ivonne M. Cabrera sold 1,220 shares of Dover 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 owns 47,060 shares in the company, valued at $8,706,100. This trade represents a 2.53 % 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. Also, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,156,700. This trade represents a 54.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,042 shares of company stock worth $7,368,578 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Dover

Hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Dover by 14.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 202,659 shares of the industrial products company’s stock valued at $35,909,000 after purchasing an additional 25,562 shares during the last quarter. Cetera Investment Advisers lifted its position in Dover by 975.5% during the first quarter. Cetera Investment Advisers now owns 24,886 shares of the industrial products company’s stock valued at $4,410,000 after purchasing an additional 22,572 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Dover by 13.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 169,808 shares of the industrial products company’s stock valued at $30,088,000 after purchasing an additional 19,933 shares during the last quarter. ORG Partners LLC lifted its position in Dover by 1,414.2% during the second quarter. ORG Partners LLC now owns 4,255 shares of the industrial products company’s stock valued at $754,000 after purchasing an additional 3,974 shares during the last quarter. Finally, Swedbank AB bought a new stake in Dover during the first quarter valued at approximately $1,581,000. 84.46% of the stock is currently 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.