Analysts Set Dover Co. (NYSE:DOV) Target Price at $192.63

Dover Co. (NYSE:DOV) has been assigned an average rating of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $194.00.

A number of equities analysts recently weighed in on DOV shares. Robert W. Baird reissued an “outperform” rating and set a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. Royal Bank of Canada lifted their price target on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Wells Fargo & Company upped their price objective on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Wolfe Research raised shares of Dover to a “hold” rating in a research note on Friday, September 20th. Finally, Mizuho raised their price objective on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 26th.

Insider Activity at Dover

In other Dover news, 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 transaction of $2,593,150.00. Following the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $2,593,150.00. Following the completion of the transaction, the chief financial officer now owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,383 shares of company stock worth $8,169,883 over the last quarter. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of Dover

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Handelsbanken Fonder AB boosted its stake in Dover by 15.1% during the third quarter. Handelsbanken Fonder AB now owns 39,522 shares of the industrial products company’s stock worth $7,578,000 after acquiring an additional 5,177 shares in the last quarter. Burns J W & Co. Inc. NY bought a new stake in shares of Dover in the 3rd quarter worth approximately $302,000. SG Americas Securities LLC grew its stake in shares of Dover by 167.7% in the 3rd quarter. SG Americas Securities LLC now owns 101,591 shares of the industrial products company’s stock worth $19,479,000 after buying an additional 63,638 shares during the last quarter. Czech National Bank increased its position in Dover by 6.9% during the 3rd quarter. Czech National Bank now owns 28,001 shares of the industrial products company’s stock valued at $5,369,000 after buying an additional 1,812 shares in the last quarter. Finally, Cannon Financial Strategists Inc. bought a new stake in Dover in the second quarter worth $279,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Price Performance

NYSE:DOV opened at $188.91 on Monday. Dover has a 52-week low of $127.25 and a 52-week high of $194.75. The stock has a fifty day moving average of $183.13 and a 200 day moving average of $180.76. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53. The firm has a market capitalization of $25.96 billion, a price-to-earnings ratio of 18.15, a P/E/G ratio of 2.27 and a beta of 1.22.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.21 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. Dover’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.05 earnings per share. On average, research analysts expect that Dover will post 9.17 EPS for the current fiscal year.

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $0.515 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.06 annualized dividend and a yield of 1.09%. This is a boost from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio (DPR) is 19.79%.

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.