Dover Corp (NYSE:DOV) shares reached a new 52-week high during trading on Thursday . The company traded as high as $101.66 and last traded at $101.63, with a volume of 196169 shares trading hands. The stock had previously closed at $101.14.
A number of research analysts recently commented on the company. Stifel Nicolaus reissued a “hold” rating and issued a $100.00 target price on shares of Dover in a research note on Thursday, December 14th. Morgan Stanley reaffirmed an “overweight” rating and set a $106.00 price objective (up from $97.00) on shares of Dover in a research note on Monday, October 2nd. SunTrust Banks reaffirmed a “hold” rating and set a $96.00 price objective on shares of Dover in a research note on Monday, October 23rd. Zacks Investment Research raised Dover from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a research note on Tuesday, October 17th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $95.00 price objective on shares of Dover in a research note on Tuesday, September 12th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Dover has a consensus rating of “Hold” and a consensus price target of $95.31.
The firm has a market capitalization of $15,740.00, a P/E ratio of 23.52, a PEG ratio of 1.96 and a beta of 1.29. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.70.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.86%. Dover’s dividend payout ratio is currently 43.72%.
In other news, Director Michael B. Stubbs sold 41,505 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $95.67, for a total transaction of $3,970,783.35. Following the completion of the sale, the director now directly owns 275,344 shares in the company, valued at $26,342,160.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP William T. Bosway sold 6,087 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $94.66, for a total transaction of $576,195.42. Following the sale, the vice president now owns 21,877 shares of the company’s stock, valued at $2,070,876.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,276 shares of company stock valued at $6,234,042. 2.50% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of DOV. JPMorgan Chase & Co. lifted its holdings in Dover by 11.5% in the second quarter. JPMorgan Chase & Co. now owns 4,962,208 shares of the industrial products company’s stock worth $398,069,000 after buying an additional 511,469 shares during the period. Geneva Advisors LLC lifted its holdings in Dover by 25.3% in the second quarter. Geneva Advisors LLC now owns 5,763 shares of the industrial products company’s stock worth $462,000 after buying an additional 1,162 shares during the period. Victory Capital Management Inc. lifted its holdings in Dover by 21.7% in the third quarter. Victory Capital Management Inc. now owns 25,466 shares of the industrial products company’s stock worth $2,327,000 after buying an additional 4,534 shares during the period. Magnetar Financial LLC purchased a new stake in Dover in the third quarter worth about $22,066,000. Finally, Nuance Investments LLC lifted its holdings in Dover by 9.5% in the second quarter. Nuance Investments LLC now owns 38,146 shares of the industrial products company’s stock worth $3,060,000 after buying an additional 3,310 shares during the period. Institutional investors own 84.42% of the company’s stock.
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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.
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