Wells Fargo & Company Raises Dover (NYSE:DOV) Price Target to $190.00

Dover (NYSE:DOV) had its price target lifted by Wells Fargo & Company from $177.00 to $190.00 in a report released on Friday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the industrial products company’s stock.

Other analysts have also issued reports about the company. Oppenheimer boosted their target price on Dover from $177.00 to $187.00 and gave the company an outperform rating in a research report on Thursday, April 18th. Royal Bank of Canada boosted their price objective on Dover from $146.00 to $153.00 and gave the company a sector perform rating in a report on Friday, February 2nd. StockNews.com cut Dover from a buy rating to a hold rating in a report on Friday, March 22nd. Barclays boosted their price target on shares of Dover from $180.00 to $186.00 and gave the company an equal weight rating in a research note on Friday. Finally, Citigroup raised their price objective on shares of Dover from $180.00 to $205.00 and gave the company a buy rating in a research note on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $185.75.

Dover Stock Up 0.6 %

Dover stock opened at $180.17 on Friday. Dover has a 52-week low of $127.25 and a 52-week high of $181.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 1.40. The firm has a 50 day moving average price of $171.75 and a two-hundred day moving average price of $154.47. The firm has a market cap of $24.75 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 1.87 and a beta of 1.27.

Dover (NYSE:DOV) last announced its earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, beating the consensus estimate of $1.88 by $0.07. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 25.41% and a net margin of 17.28%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.94 EPS. Equities analysts predict that Dover will post 9.1 EPS for the current year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.51 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $2.04 annualized dividend and a dividend yield of 1.13%. Dover’s dividend payout ratio is currently 19.60%.

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total value of $3,001,014.10. Following the transaction, the chief financial officer now owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was 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 $3,897,406.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen M. Todd sold 1,500 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the transaction, the director now directly owns 22,955 shares in the company, valued at approximately $3,929,666.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,910 shares of company stock worth $4,318,059. Insiders own 1.30% of the company’s stock.

Institutional Trading of Dover

Several hedge funds and other institutional investors have recently modified their holdings of DOV. CWM LLC grew its stake in Dover by 14.5% in the 3rd quarter. CWM LLC now owns 2,089 shares of the industrial products company’s stock valued at $291,000 after buying an additional 264 shares in the last quarter. CX Institutional lifted its holdings in Dover by 5.4% during the 3rd quarter. CX Institutional now owns 4,861 shares of the industrial products company’s stock worth $678,000 after purchasing an additional 251 shares in the last quarter. Czech National Bank boosted its stake in Dover by 47.7% in the 3rd quarter. Czech National Bank now owns 24,447 shares of the industrial products company’s stock worth $3,411,000 after purchasing an additional 7,892 shares during the period. Handelsbanken Fonder AB grew its holdings in Dover by 3.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 82,371 shares of the industrial products company’s stock valued at $11,492,000 after buying an additional 2,706 shares in the last quarter. Finally, Connecticut Wealth Management LLC bought a new stake in Dover during the 3rd quarter worth approximately $330,000. Institutional investors own 84.46% of the company’s stock.

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.