Wells Fargo & Company Increases Dover (NYSE:DOV) Price Target to $200.00

Dover (NYSE:DOV) had its price objective increased by investment analysts at Wells Fargo & Company from $190.00 to $200.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 1.74% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Dover from $217.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings upgraded shares of Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 8th. UBS Group set a $200.00 price target on Dover in a research report on Friday, October 24th. Finally, Royal Bank Of Canada upped their price objective on Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a research note on Friday, October 24th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $210.64.

Dover Stock Performance

Shares of NYSE DOV opened at $196.57 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.44 and a current ratio of 2.04. The stock has a 50 day moving average price of $180.67 and a 200 day moving average price of $179.34. The stock has a market capitalization of $26.96 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31. Dover has a 52 week low of $143.04 and a 52 week high of $222.31.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%.The firm had revenue of $1.78 billion for the quarter. Analysts predict that Dover will post 9.45 earnings per share for the current fiscal year.

Insider Activity at Dover

In other news, SVP Ivonne M. Cabrera sold 2,630 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $190.80, for a total transaction of $501,804.00. Following the transaction, the senior vice president owned 72,968 shares in the company, valued at approximately $13,922,294.40. This trade represents a 3.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher B. Woenker sold 1,627 shares of Dover stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $186.04, for a total value of $302,687.08. Following the sale, the chief financial officer directly owned 2,553 shares of the company’s stock, valued at approximately $474,960.12. The trade was a 38.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dover

Several institutional investors and hedge funds have recently modified their holdings of the business. Legacy Financial Advisors Inc. raised its stake in Dover by 1.4% in the 1st quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company’s stock worth $726,000 after purchasing an additional 57 shares in the last quarter. Mission Wealth Management LP increased its holdings in shares of Dover by 0.8% during the third quarter. Mission Wealth Management LP now owns 7,493 shares of the industrial products company’s stock worth $1,250,000 after purchasing an additional 58 shares during the period. Brown Brothers Harriman & Co. raised its position in shares of Dover by 4.1% in the third quarter. Brown Brothers Harriman & Co. now owns 1,513 shares of the industrial products company’s stock valued at $252,000 after buying an additional 59 shares in the last quarter. Summit Financial LLC boosted its stake in shares of Dover by 0.9% in the first quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company’s stock valued at $1,159,000 after buying an additional 60 shares during the period. Finally, Harbour Investments Inc. boosted its stake in shares of Dover by 51.7% in the second quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after buying an additional 60 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.