Dover (NYSE:DOV) Given New $185.00 Price Target at Mizuho

Dover (NYSE:DOV) had its price target upped by Mizuho from $180.00 to $185.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other equities research analysts also recently issued reports on the company. StockNews.com downgraded Dover from a buy rating to a hold rating in a report on Friday, March 22nd. Robert W. Baird upped their price target on Dover from $185.00 to $208.00 and gave the stock an outperform rating in a report on Friday. Citigroup upped their price objective on Dover from $180.00 to $205.00 and gave the company a buy rating in a research note on Monday, April 8th. Seaport Res Ptn upgraded Dover from a neutral rating to a buy rating in a research note on Monday, February 5th. Finally, Royal Bank of Canada upped their price objective on Dover from $146.00 to $153.00 and gave the company a sector perform rating in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Dover has a consensus rating of Moderate Buy and an average target price of $185.75.

Dover Price Performance

Shares of DOV opened at $180.17 on Friday. Dover has a 52-week low of $127.25 and a 52-week high of $181.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 1.40. The business’s 50 day moving average price is $171.75 and its two-hundred day moving average price is $154.29. The firm has a market cap of $24.75 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 1.85 and a beta of 1.27.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, beating the consensus estimate of $1.88 by $0.07. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.03 billion. Dover had a return on equity of 25.41% and a net margin of 17.28%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.94 earnings per share. On average, equities analysts anticipate that Dover will post 9.09 EPS for the current year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.13%. Dover’s dividend payout ratio is presently 19.60%.

Insider Activity

In related news, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the sale, the chief financial officer now owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the sale, the chief financial officer now owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total value of $1,060,260.00. Following the sale, the chief financial officer now directly owns 17,909 shares in the company, valued at approximately $3,164,699.39. The disclosure for this sale can be found here. Insiders have sold 25,910 shares of company stock valued at $4,318,059 in the last 90 days. Insiders own 1.30% of the company’s stock.

Institutional Trading of Dover

Institutional investors and hedge funds have recently modified their holdings of the business. Orion Capital Management LLC purchased a new stake in shares of Dover in the 3rd quarter valued at about $32,000. Headinvest LLC purchased a new stake in shares of Dover in the 3rd quarter valued at about $32,000. Exchange Traded Concepts LLC bought a new position in shares of Dover during the 4th quarter valued at about $33,000. AdvisorNet Financial Inc increased its position in shares of Dover by 783.3% during the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 188 shares during the last quarter. Finally, Life Planning Partners Inc bought a new position in shares of Dover during the 4th quarter valued at about $35,000. 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.