Dover’s (DOV) Outperform Rating Reiterated at Oppenheimer

Dover (NYSE:DOV)‘s stock had its “outperform” rating restated by analysts at Oppenheimer in a report released on Wednesday, Benzinga reports. They presently have a $215.00 price target on the industrial products company’s stock, up from their prior price target of $210.00. Oppenheimer’s price target indicates a potential upside of 12.40% from the company’s current price.

Several other equities research analysts also recently commented on DOV. Robert W. Baird restated an “outperform” rating and issued a $208.00 target price on shares of Dover in a research note on Monday, July 22nd. Barclays upped their price target on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company upped their price target on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Wolfe Research raised shares of Dover to a “hold” rating in a research report on Friday, September 20th. Finally, Royal Bank of Canada lifted their price objective on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and an average target price of $196.25.

Dover Stock Performance

Shares of DOV opened at $191.28 on Wednesday. Dover has a 52-week low of $127.25 and a 52-week high of $194.75. The firm has a market capitalization of $26.29 billion, a PE ratio of 18.37, a P/E/G ratio of 2.20 and a beta of 1.22. The firm has a 50-day moving average price of $184.45 and a 200 day moving average price of $181.37. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.21 by $0.15. Dover had a net margin of 17.58% and a return on equity of 24.94%. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period in the previous year, the company posted $2.05 EPS. Dover’s revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts anticipate that Dover will post 9.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,156,700. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,156,700. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 45,383 shares of company stock valued at $8,169,883. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Dover

A number of large investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. raised its stake in shares of Dover by 5.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,213 shares of the industrial products company’s stock valued at $215,000 after acquiring an additional 62 shares in the last quarter. Valmark Advisers Inc. grew its stake in Dover by 1.6% in the 2nd quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock worth $715,000 after acquiring an additional 63 shares during the period. CWM LLC grew its stake in shares of Dover by 2.7% during the 1st quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock valued at $435,000 after buying an additional 65 shares during the period. Wedmont Private Capital grew its stake in shares of Dover by 4.0% during the 1st quarter. Wedmont Private Capital now owns 1,778 shares of the industrial products company’s stock valued at $315,000 after buying an additional 68 shares during the period. Finally, Mather Group LLC. lifted its holdings in shares of Dover by 2.3% during the 2nd quarter. Mather Group LLC. now owns 3,145 shares of the industrial products company’s stock valued at $557,000 after acquiring an additional 71 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

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.