Dover (NYSE:DOV) Price Target Raised to $149.00 at Wells Fargo & Company

Dover (NYSE:DOV – Get Rating) had its target price increased by Wells Fargo & Company from $145.00 to $149.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 6.93% from the company’s previous close.

Other analysts have also issued reports about the stock. Morgan Stanley increased their price objective on shares of Dover from $138.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Friday, January 6th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Dover from $137.00 to $141.00 in a research report on Monday, December 5th. Citigroup raised their target price on shares of Dover from $149.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, December 9th. Mizuho raised their target price on shares of Dover from $143.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, January 13th. Finally, Credit Suisse Group started coverage on shares of Dover in a research report on Monday, December 12th. They set an “outperform” rating and a $171.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.73.

Dover Stock Performance

Dover stock opened at $139.34 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.17 and a quick ratio of 0.68. Dover has a 1-year low of $114.49 and a 1-year high of $176.35. The firm has a market capitalization of $19.56 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 1.17 and a beta of 1.34. The company’s 50-day moving average is $138.86 and its 200 day moving average is $131.33.

Dover (NYSE:DOV – Get Rating) last posted its quarterly earnings data on Thursday, October 20th. The industrial products company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.06. Dover had a net margin of 13.93% and a return on equity of 27.62%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same period in the prior year, the company posted $1.98 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Research analysts forecast that Dover will post 8.44 EPS for the current year.

Insider Buying and Selling at Dover

In related news, VP Anthony K. Kosinski sold 2,203 shares of Dover stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $126.18, for a total transaction of $277,974.54. Following the completion of the transaction, the vice president now directly owns 5,353 shares in the company, valued at approximately $675,441.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by insiders.

Institutional Trading of Dover

Institutional investors have recently added to or reduced their stakes in the business. Fairfield Bush & CO. purchased a new position in Dover in the 1st quarter valued at about $48,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Dover in the 1st quarter valued at about $938,000. Raymond James Trust N.A. raised its stake in shares of Dover by 5.8% in the 1st quarter. Raymond James Trust N.A. now owns 5,645 shares of the industrial products company’s stock valued at $886,000 after purchasing an additional 310 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of Dover by 6.5% in the 1st quarter. Vontobel Holding Ltd. now owns 9,126 shares of the industrial products company’s stock valued at $1,465,000 after purchasing an additional 561 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Dover by 6.1% in the 1st quarter. Sei Investments Co. now owns 140,560 shares of the industrial products company’s stock valued at $22,055,000 after purchasing an additional 8,054 shares in the last quarter. 85.52% of the stock is owned by hedge funds and other institutional investors.

About Dover

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Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides various equipment, component, software, solution, and services that are used in aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.