Dover (NYSE:DOV) PT Raised to $197.00 at Oppenheimer

Dover (NYSE:DOV) had its price objective lifted by Oppenheimer from $187.00 to $197.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

A number of other research firms have also commented on DOV. Wells Fargo & Company boosted their price target on shares of Dover from $177.00 to $190.00 and gave the company an equal weight rating in a research report on Friday. Seaport Res Ptn upgraded shares of Dover from a neutral rating to a buy rating in a research report on Monday, February 5th. Barclays boosted their target price on shares of Dover from $180.00 to $186.00 and gave the stock an equal weight rating in a research note on Friday. Royal Bank of Canada boosted their target price on shares of Dover from $146.00 to $153.00 and gave the stock a sector perform rating in a research note on Friday, February 2nd. Finally, Robert W. Baird boosted their target price on shares of Dover from $185.00 to $208.00 and gave the stock an outperform rating in a research note on Friday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $185.75.

Dover Price Performance

Shares of Dover stock opened at $180.04 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.89 and a current ratio of 1.31. The firm’s 50-day simple moving average is $172.12 and its 200-day simple moving average is $154.75. Dover has a twelve month low of $127.25 and a twelve month high of $181.49. The firm has a market cap of $24.74 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 1.86 and a beta of 1.27.

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

Dover Dividend Announcement

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

Insider Buying and Selling

In related news, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the completion of the sale, the director now directly owns 22,955 shares of the company’s stock, valued at $3,929,666.45. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the completion of the sale, the director now directly owns 22,955 shares of the company’s stock, valued at $3,929,666.45. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brad M. Cerepak sold 18,410 shares of the business’s 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 sale, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The disclosure for this sale can be found here. Insiders sold a total of 25,910 shares of company stock valued at $4,318,059 over the last ninety days. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Dover

Several large investors have recently bought and sold shares of the company. BSW Wealth Partners increased its stake in Dover by 1.2% in the first quarter. BSW Wealth Partners now owns 4,930 shares of the industrial products company’s stock valued at $874,000 after purchasing an additional 59 shares in the last quarter. Summit Trail Advisors LLC increased its stake in Dover by 2.6% in the first quarter. Summit Trail Advisors LLC now owns 2,333 shares of the industrial products company’s stock valued at $413,000 after purchasing an additional 60 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Dover by 5.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,213 shares of the industrial products company’s stock valued at $215,000 after purchasing an additional 62 shares in the last quarter. Legacy Financial Advisors Inc. increased its stake in Dover by 1.7% in the fourth quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock valued at $577,000 after purchasing an additional 63 shares in the last quarter. Finally, CWM LLC increased its stake in Dover by 2.7% in the first quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock valued at $435,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

About Dover

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.