Dover (NYSE:DOV) Price Target Raised to $190.00

Dover (NYSE:DOV) had its target price boosted by Barclays from $186.00 to $190.00 in a report published on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

Several other equities research analysts have also recently weighed in on the stock. Mizuho raised their price objective 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 shares of Dover from $192.00 to $193.00 and gave the stock a sector perform rating in a research report on Friday, July 26th. Wolfe Research upgraded Dover to a hold rating in a research report on Friday, September 20th. Robert W. Baird restated an outperform rating and set a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. Finally, Wells Fargo & Company upped their price target on Dover from $190.00 to $197.00 and gave the company an equal weight rating in a research note on Monday, September 30th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Dover has a consensus rating of Moderate Buy and a consensus price target of $194.00.

Dover Stock Performance

NYSE:DOV opened at $188.91 on Wednesday. The stock has a market capitalization of $25.96 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Dover has a 1 year low of $127.25 and a 1 year high of $194.75. The firm has a 50 day moving average of $183.13 and a 200-day moving average of $180.68.

Dover (NYSE:DOV) last issued 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. Dover had a return on equity of 24.94% and a net margin of 17.58%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the previous year, the company posted $2.05 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Dover will post 9.17 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $0.515 dividend. This is a positive change from Dover’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, August 30th. This represents a $2.06 annualized dividend and a yield of 1.09%. Dover’s dividend payout ratio is presently 19.79%.

Insider Transactions at Dover

In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the sale, the senior vice president now directly owns 47,060 shares in the company, valued at $8,706,100. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Brad M. Cerepak sold 4,341 shares of Dover stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total transaction of $801,305.19. Following the transaction, the chief financial officer now owns 12,324 shares in the company, valued at $2,274,887.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the sale, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The trade was a 0.00 % decrease in their ownership of the stock. 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

Institutional investors and hedge funds have recently made changes to their positions in the stock. LRI Investments LLC bought a new stake in Dover in the 1st quarter valued at $27,000. McClarren Financial Advisors Inc. raised its stake in shares of Dover by 4,400.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 176 shares during the period. Fairscale Capital LLC bought a new stake in shares of Dover in the second quarter valued at about $34,000. Transcendent Capital Group LLC boosted its position in shares of Dover by 208.0% during the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after buying an additional 156 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Dover during the second quarter worth about $41,000. Institutional investors and hedge funds 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.