Dover (NYSE:DOV) Price Target Increased to $187.00 by Analysts at Oppenheimer

Dover (NYSE:DOV) had its price objective increased by Oppenheimer from $177.00 to $187.00 in a research note published on Thursday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the industrial products company’s stock.

Several other equities analysts have also issued reports on DOV. Robert W. Baird raised their price objective on Dover from $175.00 to $185.00 and gave the stock an outperform rating in a report on Thursday, March 28th. StockNews.com lowered Dover from a buy rating to a hold rating in a report on Friday, March 22nd. Seaport Res Ptn raised Dover from a neutral rating to a buy rating in a report on Monday, February 5th. Royal Bank of Canada raised their price objective on Dover from $146.00 to $153.00 and gave the stock a sector perform rating in a report on Friday, February 2nd. Finally, Citigroup raised their price target on Dover from $180.00 to $205.00 and gave the stock a buy rating in a report on Monday, April 8th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Dover has an average rating of Moderate Buy and an average price target of $175.13.

Dover Stock Down 0.5 %

Shares of NYSE DOV opened at $168.61 on Thursday. The stock has a market cap of $23.16 billion, a P/E ratio of 22.42, a PEG ratio of 1.76 and a beta of 1.27. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59. Dover has a 12-month low of $127.25 and a 12-month high of $178.28. The business’s fifty day simple moving average is $170.23 and its 200-day simple moving average is $152.82.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.01. Dover had a return on equity of 25.95% and a net margin of 12.52%. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the firm earned $2.16 earnings per share. Dover’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, equities analysts predict that Dover will post 9.06 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $2.04 annualized dividend and a dividend yield of 1.21%. Dover’s dividend payout ratio is currently 27.13%.

Insider Buying and Selling

In related news, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the completion of the transaction, the chief financial officer now directly owns 23,909 shares in the company, valued at approximately $3,897,406.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $163.01, for a total value of $3,001,014.10. Following the completion of the sale, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brad M. Cerepak sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the sale, the chief financial officer now directly owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The disclosure for this sale can be found here. Insiders sold 25,910 shares of company stock worth $4,318,059 in the last ninety days. Insiders own 1.30% of the company’s stock.

Institutional Trading of Dover

A number of institutional investors have recently added to or reduced their stakes in the business. Legacy Financial Advisors Inc. boosted its position in Dover by 1.7% during the 4th quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock worth $577,000 after purchasing an additional 63 shares during the period. CWM LLC boosted its position in Dover by 2.7% during the 1st quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock worth $435,000 after purchasing an additional 65 shares during the period. Wedmont Private Capital boosted its position in Dover by 4.0% during the 1st quarter. Wedmont Private Capital now owns 1,778 shares of the industrial products company’s stock worth $315,000 after purchasing an additional 68 shares during the period. BOKF NA boosted its position in Dover by 0.7% during the 4th quarter. BOKF NA now owns 10,057 shares of the industrial products company’s stock worth $1,547,000 after purchasing an additional 68 shares during the period. Finally, Manchester Capital Management LLC boosted its position in Dover by 4.1% during the 4th quarter. Manchester Capital Management LLC now owns 1,752 shares of the industrial products company’s stock worth $269,000 after purchasing an additional 69 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Company Profile

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