Dover (NYSE:DOV) Price Target Increased to $220.00 by Analysts at Mizuho

Dover (NYSE:DOV) had its target price increased by Mizuho from $200.00 to $220.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

DOV has been the subject of several other research reports. Robert W. Baird restated an “outperform” rating and issued a $208.00 price target on shares of Dover in a research note on Monday, July 22nd. Royal Bank of Canada upped their price target on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price objective (up from $210.00) on shares of Dover in a report on Wednesday. Wolfe Research upgraded Dover to a “hold” rating in a report on Friday, September 20th. Finally, Barclays upped their price target on Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.75.

Dover Stock Up 1.1 %

Shares of DOV stock opened at $194.95 on Thursday. Dover has a 1-year low of $127.25 and a 1-year high of $195.68. The stock’s fifty day moving average price is $185.22 and its 200 day moving average price is $181.54. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. The company has a market cap of $26.79 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 2.20 and a beta of 1.22.

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

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 1.06%. Dover’s dividend payout ratio is currently 19.79%.

Insider Buying and Selling at Dover

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the transaction, the chief executive officer now owns 182,928 shares in the company, valued at approximately $33,285,578.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Brad M. Cerepak sold 14,818 shares of the business’s 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 in the company, valued at $2,156,700. The trade was 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 valued at $8,169,883 in the last ninety days. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DOV. LRI Investments LLC acquired a new stake in Dover in the 1st quarter valued at $27,000. McClarren Financial Advisors Inc. increased its holdings in 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 in the last quarter. Fairscale Capital LLC acquired a new stake in shares of Dover during the second quarter valued at about $34,000. Transcendent Capital Group LLC grew its stake 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 valued at $41,000 after acquiring an additional 156 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Dover during the second quarter valued at about $41,000. 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.