Dover (NYSE:DOV) PT Raised to $197.00

Dover (NYSE:DOV) had its price objective lifted by research analysts at Oppenheimer from $187.00 to $197.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price target indicates a potential upside of 8.68% from the stock’s current price.

Several other analysts also recently weighed in on the company. Seaport Res Ptn raised Dover from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. Wells Fargo & Company boosted their target price on Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday. Citigroup boosted their target price on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 8th. Mizuho boosted their price target on Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday. Finally, StockNews.com cut Dover from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $185.75.

Dover Stock Up 1.2 %

NYSE DOV traded up $2.15 during trading on Friday, reaching $181.26. 437,596 shares of the company’s stock were exchanged, compared to its average volume of 960,314. The stock has a market cap of $24.90 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 1.78 and a beta of 1.27. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 1.40. The company has a 50 day moving average price of $171.37 and a two-hundred day moving average price of $154.02. Dover has a 1 year low of $127.25 and a 1 year high of $181.49.

Dover (NYSE:DOV) last posted its earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.07. Dover had a return on equity of 25.95% and a net margin of 12.52%. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the business earned $1.94 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. On average, equities research analysts anticipate that Dover will post 9.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the business’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 transaction, the chief financial officer now owns 17,909 shares in the company, valued at approximately $3,164,699.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Brad M. Cerepak sold 6,000 shares of the business’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 sale, the chief financial officer now owns 17,909 shares of the company’s stock, valued at approximately $3,164,699.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was 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 directly owns 23,909 shares in the company, valued at approximately $3,897,406.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,910 shares of company stock worth $4,318,059. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Dover

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. lifted its stake in shares of Dover by 15.4% during the 4th quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock worth $567,426,000 after purchasing an additional 492,577 shares during the period. FMR LLC increased its holdings in shares of Dover by 10.5% during the 3rd quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock worth $333,522,000 after buying an additional 226,646 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Dover by 5.5% during the 3rd quarter. Northern Trust Corp now owns 1,724,613 shares of the industrial products company’s stock worth $240,601,000 after buying an additional 89,774 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Dover by 10.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,428,878 shares of the industrial products company’s stock worth $219,778,000 after buying an additional 140,089 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of Dover by 160.2% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock worth $199,319,000 after buying an additional 879,533 shares during the last quarter. 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.