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

Dover (NYSE:DOV) had its target price lifted by Barclays from $180.00 to $186.00 in a research report sent to investors on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the industrial products company’s stock.

Several other brokerages have also issued reports on DOV. StockNews.com lowered Dover from a buy rating to a hold rating in a research note on Friday, March 22nd. Oppenheimer boosted their price objective on Dover from $177.00 to $187.00 and gave the company an outperform rating in a research note on Thursday, April 18th. Citigroup upped their price objective on shares of Dover from $180.00 to $205.00 and gave the company a buy rating in a report on Monday, April 8th. Mizuho lifted their target price on shares of Dover from $180.00 to $185.00 and gave the stock a buy rating in a research note on Friday. Finally, Royal Bank of Canada upped their price target on shares of Dover from $146.00 to $153.00 and gave the company a sector perform rating in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $185.75.

Dover Price Performance

Shares of NYSE:DOV opened at $180.17 on Friday. Dover has a fifty-two week low of $127.25 and a fifty-two week high of $181.49. The company’s 50-day moving average is $171.75 and its 200 day moving average is $154.47. 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 company has a market capitalization of $24.75 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 1.87 and a beta of 1.27.

Dover (NYSE:DOV) last released its earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.41%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company earned $1.94 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. On average, equities research analysts forecast that Dover will post 9.1 earnings per share for the current year.

Dover Announces Dividend

The company also recently disclosed 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. The ex-dividend date was Wednesday, February 28th. This represents a $2.04 annualized dividend and a yield of 1.13%. Dover’s dividend payout ratio is currently 19.60%.

Insiders Place Their Bets

In other news, CFO Brad M. Cerepak sold 6,000 shares of the business’s stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Brad M. Cerepak sold 18,410 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 23,909 shares in the company, valued at $3,897,406.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brad M. Cerepak sold 6,000 shares of the firm’s 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 sale, the chief financial officer now directly owns 17,909 shares in the company, valued at $3,164,699.39. The disclosure for this sale can be found here. Insiders have sold 25,910 shares of company stock worth $4,318,059 in the last three months. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dover

A number of institutional investors have recently made changes to their positions in DOV. AdvisorNet Financial Inc grew its position in Dover by 783.3% in the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 188 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in Dover during the fourth quarter worth about $33,000. Life Planning Partners Inc purchased a new position in shares of Dover in the 4th quarter worth about $35,000. Orion Capital Management LLC bought a new position in shares of Dover during the 3rd quarter valued at about $32,000. Finally, Headinvest LLC purchased a new position in shares of Dover during the 3rd quarter valued at about $32,000. 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.