Dover (NYSE:DOV) Hits New 52-Week High at $99.64

Shares of Dover Corp (NYSE:DOV) hit a new 52-week high on Friday . The stock traded as high as $99.64 and last traded at $99.49, with a volume of 304275 shares traded. The stock had previously closed at $98.54.

Several research analysts recently weighed in on the company. Zacks Investment Research upgraded Dover from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a research note on Wednesday, March 27th. ValuEngine upgraded Dover from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Robert W. Baird downgraded Dover from an “outperform” rating to a “neutral” rating in a research note on Monday, April 22nd. Morgan Stanley boosted their price target on Dover from $92.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, March 8th. Finally, Deutsche Bank set a $102.00 price target on Dover and gave the company a “hold” rating in a research note on Monday, April 22nd. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $94.10.

The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.87 and a current ratio of 1.30. The business’s 50 day moving average price is $94.82. The stock has a market cap of $14.56 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.50 and a beta of 1.48.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, April 18th. The industrial products company reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.12. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. Dover had a return on equity of 28.48% and a net margin of 7.69%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 EPS. As a group, sell-side analysts forecast that Dover Corp will post 5.82 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were paid a $0.48 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.92%. Dover’s payout ratio is 38.63%.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Dover by 1.4% in the first quarter. BlackRock Inc. now owns 11,983,312 shares of the industrial products company’s stock worth $1,124,033,000 after buying an additional 161,427 shares during the last quarter. Boston Partners boosted its stake in shares of Dover by 29.2% in the first quarter. Boston Partners now owns 7,642,284 shares of the industrial products company’s stock worth $716,846,000 after buying an additional 1,728,856 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Dover by 0.6% in the first quarter. Wells Fargo & Company MN now owns 3,154,820 shares of the industrial products company’s stock worth $295,922,000 after buying an additional 18,983 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Dover by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 1,908,781 shares of the industrial products company’s stock worth $135,190,000 after buying an additional 122,881 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Dover in the fourth quarter worth about $89,421,000. Hedge funds and other institutional investors own 84.83% of the company’s stock.

Dover Company Profile (NYSE:DOV)

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.

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