JPMorgan Chase – Dover Co. (NYSE:DOV) Receives Consensus Recommendation of “Buy” from Brokerages
Dover Co. (NYSE:DOV) has earned a consensus recommendation of “Buy” from the thirteen ratings firms that are presently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $121.45.
A number of research analysts have recently commented on DOV shares. Oppenheimer restated a “hold” rating on shares of Dover in a report on Wednesday, January 27th. Zacks Investment Research cut shares of Dover from a “buy” rating to a “hold” rating and set a $130.00 target price on the stock. in a report on Tuesday, December 22nd. Barclays increased their target price on shares of Dover from $138.00 to $141.00 and gave the stock an “overweight” rating in a report on Tuesday, January 5th. JPMorgan Chase & Co. increased their target price on shares of Dover from $130.00 to $134.00 and gave the stock an “overweight” rating in a report on Thursday, October 22nd. Finally, Robert W. Baird increased their target price on shares of Dover from $129.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, November 19th.
DOV stock opened at $122.73 on Friday. The firm’s fifty day simple moving average is $124.00 and its two-hundred day simple moving average is $116.85. The company has a quick ratio of 1.00, a current ratio of 1.47 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $17.69 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 1.78 and a beta of 1.30. Dover has a twelve month low of $62.95 and a twelve month high of $130.41.
Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 28th. The industrial products company reported $1.55 EPS for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.17. The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Dover had a net margin of 10.02% and a return on equity of 26.73%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the business posted $1.54 earnings per share. As a group, equities research analysts expect that Dover will post 5.49 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 15th. Shareholders of record on Friday, March 5th will be given a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 1.61%. Dover’s payout ratio is 33.39%.
In related news, CFO Brad M. Cerepak sold 23,135 shares of the stock in a transaction that occurred on Tuesday, November 24th. The shares were sold at an average price of $126.00, for a total value of $2,915,010.00. Also, CFO Brad M. Cerepak sold 33,668 shares of the stock in a transaction that occurred on Tuesday, December 1st. The shares were sold at an average price of $123.56, for a total transaction of $4,160,018.08. Following the completion of the transaction, the chief financial officer now directly owns 83,841 shares of the company’s stock, valued at $10,359,393.96. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Capital Directions Investment Advisors LLC raised its position in Dover by 100.0% during the 4th quarter. Capital Directions Investment Advisors LLC now owns 220 shares of the industrial products company’s stock worth $28,000 after buying an additional 110 shares during the last quarter. Mcmillion Capital Management Inc. purchased a new position in Dover during the 4th quarter worth approximately $29,000. Lloyd Advisory Services LLC. purchased a new position in Dover during the 3rd quarter worth approximately $28,000. Veriti Management LLC purchased a new position in Dover during the 4th quarter worth approximately $33,000. Finally, Perigon Wealth Management LLC acquired a new stake in shares of Dover during the 4th quarter worth approximately $39,000. 82.70% of the stock is owned by institutional investors.
Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides aftermarket vehicle services, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, bearings, drives, electric monitoring, and fluid dispensing systems.
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