Dover (NYSE:DOV) Given New $187.00 Price Target at Oppenheimer

Dover (NYSE:DOV) had its target price upped by research analysts at Oppenheimer from $177.00 to $187.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price target would indicate a potential upside of 10.32% from the company’s previous close.

Several other brokerages have also issued reports on DOV. Seaport Res Ptn raised Dover from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Citigroup upped their target price on Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Robert W. Baird lifted their price target on shares of Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Barclays upped their price objective on shares of Dover from $163.00 to $180.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada lifted their target price on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and an average price target of $175.13.

Dover Stock Down 1.0 %

DOV stock opened at $169.50 on Thursday. The company’s 50 day moving average is $170.06 and its 200 day moving average is $152.71. The stock has a market cap of $23.29 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 1.78 and a beta of 1.27. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59. Dover has a 1-year low of $127.25 and a 1-year high of $178.28.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.01. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.16 billion. Dover had a net margin of 12.52% and a return on equity of 25.95%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.16 EPS. Sell-side analysts predict that Dover will post 9.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the completion of the transaction, the chief financial officer now owns 17,909 shares of the company’s stock, valued at approximately $3,164,699.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $163.01, for a total value of $3,001,014.10. Following the sale, the chief financial officer now owns 23,909 shares in the company, valued at $3,897,406.09. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brad M. Cerepak sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the completion of the transaction, the chief financial officer now owns 17,909 shares of the company’s stock, valued at $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 over the last ninety days. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Dover

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