Dover (NYSE:DOV) Price Target Raised to $197.00

Dover (NYSE:DOV) had its target price boosted by Wells Fargo & Company from $190.00 to $197.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

DOV has been the subject of several other research reports. Wolfe Research raised Dover to a hold rating in a research note on Friday, September 20th. Mizuho upped their target price on Dover from $185.00 to $200.00 and gave the stock an outperform rating in a report on Friday, July 26th. Robert W. Baird reissued an outperform rating and issued a $208.00 price target on shares of Dover in a research report on Monday, July 22nd. Finally, Royal Bank of Canada increased their price target on Dover from $192.00 to $193.00 and gave the company a sector perform rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $194.00.

Dover Price Performance

Shares of DOV opened at $190.27 on Monday. Dover has a 12-month low of $127.25 and a 12-month high of $194.75. The business has a 50-day simple moving average of $182.99 and a two-hundred day simple moving average of $180.52. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55. The stock has a market cap of $26.15 billion, a PE ratio of 18.28, a PEG ratio of 2.27 and a beta of 1.22.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the prior year, the company earned $2.05 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. Analysts anticipate that Dover will post 9.17 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a dividend of $0.515 per share. This is a positive change from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Friday, August 30th. Dover’s dividend payout ratio is presently 19.79%.

Insider Buying and Selling

In other 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 value of $2,593,150.00. Following the completion of the sale, the chief financial officer now owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related 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 transaction, the chief financial officer now owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the transaction, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The disclosure for this sale can be found here. Insiders sold a total of 45,383 shares of company stock worth $8,169,883 in the last 90 days. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

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

Dover Company Profile

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.