Dover’s (DOV) Hold Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their hold rating on shares of Dover (NYSE:DOV) in a research report released on Thursday. Royal Bank of Canada currently has a $100.00 price target on the industrial products company’s stock.

Other equities research analysts also recently issued research reports about the company. Seaport Global Securities reissued a neutral rating on shares of Dover in a report on Wednesday, September 13th. Robert W. Baird reissued a buy rating and set a $95.00 price objective on shares of Dover in a report on Tuesday, September 12th. SunTrust Banks reissued a hold rating and set a $96.00 price objective on shares of Dover in a report on Monday, October 23rd. ValuEngine downgraded Dover from a buy rating to a hold rating in a report on Friday, December 1st. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $92.00 target price on shares of Dover in a research report on Tuesday, October 17th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Dover presently has an average rating of Hold and a consensus price target of $96.00.

Dover (NYSE:DOV) traded up $0.59 during midday trading on Thursday, hitting $103.10. The company had a trading volume of 983,700 shares, compared to its average volume of 894,067. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.87 and a current ratio of 1.32. Dover has a 12 month low of $75.51 and a 12 month high of $103.77. The firm has a market cap of $16,060.00, a P/E ratio of 23.98, a price-to-earnings-growth ratio of 1.75 and a beta of 1.29.

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

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Wednesday, November 29th. Dover’s dividend payout ratio is currently 43.72%.

In related news, VP Paul Goldberg sold 2,430 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $93.50, for a total transaction of $227,205.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael B. Stubbs sold 41,505 shares of Dover stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $95.67, for a total value of $3,970,783.35. Following the completion of the transaction, the director now directly owns 275,344 shares of the company’s stock, valued at $26,342,160.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,276 shares of company stock valued at $6,234,042. 2.50% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. raised its position in shares of Dover by 388.2% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the industrial products company’s stock worth $155,000 after acquiring an additional 1,347 shares in the last quarter. Cape Cod Five Cents Savings Bank bought a new position in shares of Dover in the 3rd quarter worth about $201,000. NBT Bank N A NY bought a new position in shares of Dover in the 3rd quarter worth about $202,000. South State Corp bought a new position in shares of Dover in the 3rd quarter worth about $208,000. Finally, Folger Nolan Fleming Douglas Capital Management Inc. bought a new position in shares of Dover in the 3rd quarter worth about $209,000. 84.42% of the stock is owned by hedge funds and other institutional investors.

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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.

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