Dover (NYSE:DOV) Price Target Raised to $165.00 at Barclays


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Dover (NYSE:DOV) had its price target raised by equities research analysts at Barclays from $155.00 to $165.00 in a report released on Wednesday, The Fly reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Barclays‘s target price would indicate a potential upside of 11.83% from the stock’s previous close.

A number of other brokerages have also recently issued reports on DOV. Zacks Investment Research cut Dover from a “buy” rating to a “hold” rating and set a $130.00 price objective on the stock. in a research note on Tuesday, December 22nd. Royal Bank of Canada boosted their target price on Dover from $142.00 to $149.00 and gave the stock a “sector perform” rating in a report on Wednesday. Morgan Stanley boosted their target price on Dover from $147.00 to $159.00 and gave the stock an “equal weight” rating in a report on Monday. Deutsche Bank Aktiengesellschaft boosted their target price on Dover from $143.00 to $150.00 and gave the stock a “hold” rating in a report on Monday. Finally, Oppenheimer reissued a “hold” rating on shares of Dover in a report on Wednesday, January 27th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Dover currently has an average rating of “Hold” and an average target price of $149.91.

Shares of DOV stock opened at $147.55 on Wednesday. The stock has a fifty day moving average price of $137.00 and a 200 day moving average price of $125.02. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.47 and a quick ratio of 1.00. The stock has a market cap of $21.23 billion, a P/E ratio of 32.08, a price-to-earnings-growth ratio of 1.78 and a beta of 1.30. Dover has a one year low of $79.87 and a one year high of $149.40.

Dover (NYSE:DOV) last released its quarterly earnings data on Monday, April 19th. The industrial products company reported $1.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.36. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Dover had a return on equity of 26.73% and a net margin of 10.02%. Dover’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.39 EPS. Equities research analysts anticipate that Dover will post 5.49 EPS for the current year.

In related news, SVP Ivonne M. Cabrera sold 3,617 shares of the company’s stock in a transaction on Monday, March 8th. The stock was sold at an average price of $133.00, for a total transaction of $481,061.00. Following the completion of the sale, the senior vice president now directly owns 21,454 shares in the company, valued at approximately $2,853,382. The sale was disclosed in a filing with the SEC, which is available through this link. 0.98% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of DOV. Norges Bank bought a new position in Dover in the fourth quarter valued at about $116,469,000. First Trust Advisors LP raised its position in Dover by 532.1% in the fourth quarter. First Trust Advisors LP now owns 486,898 shares of the industrial products company’s stock valued at $61,471,000 after purchasing an additional 409,875 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in Dover by 126.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 643,422 shares of the industrial products company’s stock valued at $81,230,000 after purchasing an additional 358,718 shares during the last quarter. Morgan Stanley raised its position in Dover by 36.4% in the fourth quarter. Morgan Stanley now owns 1,015,245 shares of the industrial products company’s stock valued at $128,175,000 after purchasing an additional 270,843 shares during the last quarter. Finally, PGGM Investments raised its position in Dover by 469.9% in the fourth quarter. PGGM Investments now owns 273,864 shares of the industrial products company’s stock valued at $34,575,000 after purchasing an additional 225,807 shares during the last quarter. Hedge funds and other institutional investors own 82.70% of the company’s stock.

Dover Company Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides aftermarket vehicle, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, bearings, drives, electric monitoring, and fluid dispensing systems.

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Analyst Recommendations for Dover (NYSE:DOV)

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