Dover (NYSE:DOV) Price Target Raised to $185.00

Dover (NYSE:DOV) had its target price raised by Mizuho from $180.00 to $185.00 in a research report sent to investors on Friday, Benzinga reports. Mizuho currently has a buy rating on the industrial products company’s stock.

Several other research analysts also recently weighed in on DOV. StockNews.com downgraded shares of Dover from a buy rating to a hold rating in a research report on Friday, March 22nd. Citigroup lifted their price objective on shares of Dover from $180.00 to $205.00 and gave the stock a buy rating in a research report on Monday, April 8th. Seaport Res Ptn raised shares of Dover from a neutral rating to a buy rating in a research note on Monday, February 5th. Oppenheimer raised their target price on Dover from $177.00 to $187.00 and gave the stock an outperform rating in a research report on Thursday, April 18th. Finally, Barclays upped their price target on Dover from $163.00 to $180.00 and gave the company an equal weight rating in a research report on Tuesday, April 2nd. Three 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 target price of $185.75.

Dover Price Performance

NYSE DOV opened at $180.17 on Friday. The stock has a market capitalization of $24.75 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.87 and a beta of 1.27. 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 business’s fifty day moving average is $171.75 and its two-hundred day moving average is $154.47. Dover has a 1 year low of $127.25 and a 1 year high of $181.49.

Dover (NYSE:DOV) last announced its earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Dover’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.94 earnings per share. On average, research analysts forecast that Dover will post 9.1 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm 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. This represents a $2.04 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Wednesday, February 28th. Dover’s payout ratio is presently 19.60%.

Insider Activity at Dover

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction dated 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 owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Brad M. Cerepak sold 18,410 shares of the firm’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 value of $3,001,014.10. Following the transaction, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brad M. Cerepak sold 6,000 shares of Dover stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 17,909 shares in the company, valued at approximately $3,164,699.39. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,910 shares of company stock valued at $4,318,059. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Dover

A number of hedge funds have recently bought and sold shares of DOV. Norges Bank acquired a new position in shares of Dover during the 4th quarter worth about $175,275,000. Adage Capital Partners GP L.L.C. increased its position in Dover by 160.2% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock worth $199,319,000 after buying an additional 879,533 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Dover by 2,173.8% during the third quarter. Wellington Management Group LLP now owns 817,125 shares of the industrial products company’s stock worth $113,997,000 after buying an additional 781,189 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Dover by 15.4% in the fourth quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock valued at $567,426,000 after acquiring an additional 492,577 shares during the period. Finally, FMR LLC grew its stake in shares of Dover by 10.5% in the third quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock worth $333,522,000 after acquiring an additional 226,646 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

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.