Dover (NYSE:DOV) Price Target Raised to $186.00

Dover (NYSE:DOV) had its price objective increased by Barclays from $180.00 to $186.00 in a report issued on Friday, Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

Several other equities research analysts have also weighed in on the company. Mizuho boosted their target price on Dover from $180.00 to $185.00 and gave the stock a buy rating in a report on Friday. Seaport Res Ptn upgraded Dover from a neutral rating to a buy rating in a report on Monday, February 5th. Oppenheimer upped their price target on Dover from $177.00 to $187.00 and gave the stock an outperform rating in a report on Thursday, April 18th. StockNews.com lowered Dover from a buy rating to a hold rating in a report on Friday, March 22nd. Finally, Robert W. Baird upped their price target on Dover from $185.00 to $208.00 and gave the stock an outperform rating in a report on Friday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $185.75.

Dover Trading Down 0.1 %

Shares of NYSE DOV opened at $180.04 on Friday. The stock has a market cap of $24.74 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 1.86 and a beta of 1.27. The business has a 50 day simple moving average of $172.12 and a 200 day simple moving average of $154.75. 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 0.58, a quick ratio of 0.89 and a current ratio of 1.31.

Dover (NYSE:DOV) last posted its earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.07. Dover had a return on equity of 25.04% and a net margin of 17.28%. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company earned $1.94 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. On average, research analysts predict that Dover will post 9.1 earnings per share for the current fiscal year.

Dover Announces Dividend

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

Insider Activity at Dover

In related news, CFO Brad M. Cerepak sold 18,410 shares of the company’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 transaction, the chief financial officer now directly owns 23,909 shares in the company, valued at $3,897,406.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Brad M. Cerepak sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total value of $1,060,260.00. Following the completion of the transaction, the chief financial officer now directly owns 17,909 shares in the company, valued at $3,164,699.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brad M. Cerepak sold 18,410 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,910 shares of company stock worth $4,318,059. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

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.