Dover (NYSE:DOV) Price Target Raised to $185.00

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

A number of other brokerages have also commented on DOV. Barclays increased their price target on Dover from $163.00 to $180.00 and gave the company an equal weight rating in a research note on Tuesday, April 2nd. Robert W. Baird upped their price objective on Dover from $185.00 to $208.00 and gave the company an outperform rating in a research report on Friday. 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 report on Friday, February 2nd. Citigroup upped their price objective on Dover from $180.00 to $205.00 and gave the company a buy rating in a research report on Monday, April 8th. Finally, Seaport Res Ptn upgraded Dover from a neutral rating to a buy rating in a research report on Monday, February 5th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Dover has an average rating of Moderate Buy and an average price target of $185.75.

Dover Stock Performance

NYSE DOV opened at $180.17 on Friday. The business has a 50-day moving average price of $171.75 and a 200-day moving average price of $154.29. Dover has a twelve month low of $127.25 and a twelve month high of $181.49. The firm has a market cap of $24.75 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 1.85 and a beta of 1.27. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 0.59.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. Dover had a return on equity of 25.41% and a net margin of 17.28%. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the company earned $1.94 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. As a group, equities research analysts predict that Dover will post 9.09 EPS for the current fiscal year.

Dover Dividend Announcement

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

Insiders Place Their Bets

In other Dover news, Director Stephen M. Todd sold 1,500 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $171.19, for a total transaction of $256,785.00. Following the transaction, the director now directly owns 22,955 shares in the company, valued at approximately $3,929,666.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction on 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 can be accessed through this hyperlink. Also, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the sale, the director now directly owns 22,955 shares in the company, valued at approximately $3,929,666.45. The disclosure for this sale can be found here. Insiders have sold 25,910 shares of company stock worth $4,318,059 in the last ninety days. 1.30% of the stock is owned by company insiders.

Institutional Trading of Dover

A number of institutional investors have recently made changes to their positions in the business. Yousif Capital Management LLC boosted its position in shares of Dover by 0.3% in the 1st quarter. Yousif Capital Management LLC now owns 64,383 shares of the industrial products company’s stock worth $11,408,000 after purchasing an additional 217 shares in the last quarter. YHB Investment Advisors Inc. acquired a new stake in shares of Dover in the 1st quarter worth $128,000. SlateStone Wealth LLC acquired a new stake in shares of Dover in the 1st quarter worth $989,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Dover by 1.0% in the 1st 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 in the last quarter. Finally, Freedom Day Solutions LLC acquired a new stake in Dover during the 1st quarter worth about $229,000. Institutional investors and hedge funds 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.