Dover (NYSE:DOV) Given New $197.00 Price Target at Wells Fargo & Company

Dover (NYSE:DOV) had its price objective hoisted by Wells Fargo & Company from $190.00 to $197.00 in a research report released on Monday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the industrial products company’s stock.

A number of other equities research analysts have also recently commented on DOV. Robert W. Baird reiterated an outperform rating and issued a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. Mizuho increased their target price on shares of Dover from $185.00 to $200.00 and gave the company an outperform rating in a research report on Friday, July 26th. Royal Bank of Canada boosted their price objective on Dover from $192.00 to $193.00 and gave the stock a sector perform rating in a research note on Friday, July 26th. Finally, Wolfe Research upgraded Dover to a hold rating in a report on Friday, September 20th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $194.00.

Dover Stock Performance

DOV opened at $189.64 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55. The company has a market cap of $26.06 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 2.27 and a beta of 1.22. Dover has a 52-week low of $127.25 and a 52-week high of $194.75. The firm’s fifty day simple moving average is $182.99 and its two-hundred day simple moving average is $180.52.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.15. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $2.05 earnings per share. Equities analysts anticipate that Dover will post 9.17 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.515 per share. The ex-dividend date was Friday, August 30th. This is a boost from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.09%. Dover’s dividend payout ratio is currently 19.79%.

Insider Transactions at Dover

In other news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,156,700. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the completion of the sale, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at $33,285,578.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the sale, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,383 shares of company stock worth $8,169,883. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DOV. Benjamin F. Edwards & Company Inc. boosted its position in Dover by 5.4% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,213 shares of the industrial products company’s stock valued at $215,000 after buying an additional 62 shares during the period. Valmark Advisers Inc. grew its stake in Dover by 1.6% during the 2nd quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock worth $715,000 after purchasing an additional 63 shares in the last quarter. CWM LLC increased its holdings in Dover by 2.7% during the 1st quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock worth $435,000 after purchasing an additional 65 shares during the period. Wedmont Private Capital raised its position in Dover by 4.0% in the 1st quarter. Wedmont Private Capital now owns 1,778 shares of the industrial products company’s stock valued at $315,000 after purchasing an additional 68 shares in the last quarter. Finally, Mather Group LLC. boosted its stake in shares of Dover by 2.3% in the 2nd quarter. Mather Group LLC. now owns 3,145 shares of the industrial products company’s stock valued at $557,000 after buying an additional 71 shares during the period. Hedge funds and other 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.