Barclays Boosts Dover (NYSE:DOV) Price Target to $186.00

Dover (NYSE:DOV) had its target price raised by stock analysts at Barclays from $180.00 to $186.00 in a report released on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price objective would suggest a potential upside of 3.64% from the company’s current price.

A number of other brokerages have also issued reports on DOV. Mizuho lifted their target price on shares of Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday. Citigroup lifted their target price on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Royal Bank of Canada raised their price target on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Finally, Robert W. Baird raised their price target on shares of Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.63.

Dover Price Performance

Shares of NYSE DOV traded up $0.36 during mid-day trading on Friday, reaching $179.47. 88,136 shares of the company traded hands, compared to its average volume of 955,737. Dover has a fifty-two week low of $127.25 and a fifty-two week high of $181.49. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.40 and a quick ratio of 0.90. The firm has a market cap of $24.66 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 1.78 and a beta of 1.27. The stock has a fifty day simple moving average of $171.37 and a 200-day simple moving average of $154.02.

Dover (NYSE:DOV) last issued its earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Dover had a net margin of 12.52% and a return on equity of 25.95%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the firm posted $1.94 earnings per share. Equities research analysts anticipate that Dover will post 9.07 EPS for the current fiscal year.

Insider Activity

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were 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 directly owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the completion of the transaction, the director now owns 22,955 shares in the company, valued at $3,929,666.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 transaction, the chief financial officer now owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,910 shares of company stock worth $4,318,059. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dover

A number of institutional investors and hedge funds have recently modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Dover by 1.0% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 57,662 shares of the industrial products company’s stock worth $10,217,000 after purchasing an additional 547 shares during the last quarter. Freedom Day Solutions LLC purchased a new position in Dover during the first quarter valued at $229,000. Cambridge Investment Research Advisors Inc. raised its position in shares of Dover by 10.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,311 shares of the industrial products company’s stock worth $2,890,000 after purchasing an additional 1,570 shares during the last quarter. Smith Anglin Financial LLC purchased a new position in shares of Dover in the 1st quarter worth about $226,000. Finally, Simplicity Wealth LLC purchased a new position in shares of Dover in the 1st quarter worth about $668,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.