Analysts Set Dover Corporation (DOV) Target Price at $92.09

Dover Corporation (NYSE:DOV) has been assigned an average recommendation of “Hold” from the twenty research firms that are covering the company, MarketBeat Ratings reports. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $93.82.

A number of equities research analysts recently issued reports on DOV shares. Morgan Stanley raised their price target on Dover Corporation from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 19th. J P Morgan Chase & Co raised Dover Corporation from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $80.00 to $105.00 in a research note on Wednesday, September 20th. Robert W. Baird reissued a “buy” rating and set a $95.00 price target on shares of Dover Corporation in a research note on Tuesday, September 12th. SunTrust Banks, Inc. reissued a “hold” rating and set a $90.00 price target on shares of Dover Corporation in a research note on Thursday. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $90.00 price target (up from $89.00) on shares of Dover Corporation in a research note on Thursday, July 6th.

Dover Corporation (DOV) traded up 0.27% during trading on Friday, hitting $94.07. The stock had a trading volume of 598,058 shares. The stock has a market cap of $14.65 billion, a price-to-earnings ratio of 23.52 and a beta of 1.27. Dover Corporation has a 12 month low of $65.50 and a 12 month high of $94.50. The stock has a 50 day moving average price of $89.72 and a 200-day moving average price of $83.89.

Dover Corporation (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.03. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company earned $0.76 EPS. Dover Corporation’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, equities analysts predict that Dover Corporation will post $4.29 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This is an increase from Dover Corporation’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.00%. Dover Corporation’s dividend payout ratio (DPR) is currently 47.12%.

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In other news, Director Michael B. Stubbs sold 25,000 shares of Dover Corporation stock in a transaction on Friday, August 4th. The stock was sold at an average price of $87.04, for a total value of $2,176,000.00. Following the transaction, the director now directly owns 275,344 shares in the company, valued at approximately $23,965,941.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.50% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Frontier Investment Mgmt Co. increased its holdings in shares of Dover Corporation by 0.7% in the 2nd quarter. Frontier Investment Mgmt Co. now owns 123,304 shares of the industrial products company’s stock valued at $9,891,000 after acquiring an additional 881 shares during the period. Achmea Investment Management B.V. purchased a new position in shares of Dover Corporation in the 2nd quarter valued at $278,000. Sentry Investment Management LLC increased its holdings in shares of Dover Corporation by 1.1% in the 2nd quarter. Sentry Investment Management LLC now owns 10,900 shares of the industrial products company’s stock valued at $874,000 after acquiring an additional 117 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of Dover Corporation by 2.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 123,325 shares of the industrial products company’s stock valued at $9,893,000 after acquiring an additional 2,420 shares during the period. Finally, Koch Industries Inc. purchased a new position in shares of Dover Corporation in the 2nd quarter valued at $236,000. Institutional investors and hedge funds own 86.01% of the company’s stock.

Dover Corporation Company Profile

Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.

Analyst Recommendations for Dover Corporation (NYSE:DOV)

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