Dover (NYSE:DOV) Price Target Raised to $200.00

Dover (NYSE:DOV) had its price objective raised by Wells Fargo & Company from $190.00 to $200.00 in a research report report published on Monday,Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

DOV has been the subject of several other research reports. Weiss Ratings raised Dover from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 8th. JPMorgan Chase & Co. lifted their price objective on shares of Dover from $217.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. BNP Paribas assumed coverage on Dover in a research report on Thursday, December 4th. They set a “neutral” rating and a $195.00 price target on the stock. Finally, Royal Bank Of Canada raised their price objective on Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a research report on Friday, October 24th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and an average price target of $210.64.

Dover Trading Down 0.3%

Shares of NYSE:DOV opened at $196.00 on Monday. The company’s 50-day moving average price is $181.30 and its two-hundred day moving average price is $179.46. Dover has a one year low of $143.04 and a one year high of $222.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44. The stock has a market capitalization of $26.88 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 1.51 and a beta of 1.31.

Dover (NYSE:DOV) last released its earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%.The business had revenue of $1.78 billion for the quarter. On average, equities analysts forecast that Dover will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, November 28th. Dover’s dividend payout ratio (DPR) is presently 12.79%.

Insiders Place Their Bets

In related news, SVP Ivonne M. Cabrera sold 2,630 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $190.80, for a total value of $501,804.00. Following the transaction, the senior vice president directly owned 72,968 shares in the company, valued at approximately $13,922,294.40. This represents a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Christopher B. Woenker sold 1,627 shares of the firm’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $186.04, for a total transaction of $302,687.08. Following the transaction, the chief financial officer directly owned 2,553 shares in the company, valued at approximately $474,960.12. This represents a 38.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Dover

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Dover by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company’s stock valued at $3,036,722,000 after acquiring an additional 231,146 shares during the period. State Street Corp raised its stake in Dover by 1.3% in the third quarter. State Street Corp now owns 6,533,361 shares of the industrial products company’s stock valued at $1,089,961,000 after purchasing an additional 86,212 shares in the last quarter. Geode Capital Management LLC lifted its position in Dover by 1.0% during the second quarter. Geode Capital Management LLC now owns 3,453,121 shares of the industrial products company’s stock worth $629,996,000 after purchasing an additional 33,539 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in Dover by 10.6% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,376,279 shares of the industrial products company’s stock worth $435,406,000 after buying an additional 227,653 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Dover by 16.1% in the 3rd quarter. Wellington Management Group LLP now owns 2,130,657 shares of the industrial products company’s stock valued at $355,458,000 after buying an additional 294,856 shares during the period. 84.46% of the stock is currently owned by institutional investors.

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.