Dover (NYSE:DOV) Price Target Raised to $205.00

Dover (NYSE:DOV) had its price target lifted by stock analysts at Barclays from $195.00 to $205.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price objective would suggest a potential upside of 2.10% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on DOV. Oppenheimer boosted their price objective on Dover from $225.00 to $228.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of Dover in a report on Monday, December 29th. Royal Bank Of Canada raised their price objective on Dover from $183.00 to $198.00 and gave the stock a “sector perform” rating in a research note on Friday, October 24th. JPMorgan Chase & Co. upped their target price on Dover from $217.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Finally, Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $217.09.

Dover Stock Down 1.3%

Shares of NYSE:DOV traded down $2.71 during trading on Wednesday, hitting $200.79. 363,776 shares of the company were exchanged, compared to its average volume of 1,122,259. Dover has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35. The firm has a fifty day moving average price of $189.50 and a two-hundred day moving average price of $181.53. The stock has a market cap of $27.54 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of 1.41 and a beta of 1.31.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. The company had revenue of $1.78 billion for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. As a group, research analysts anticipate that Dover will post 9.45 earnings per share for the current fiscal year.

Insider Activity

In other Dover news, CFO Christopher B. Woenker sold 1,627 shares of the firm’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $186.04, for a total value of $302,687.08. Following the completion of the sale, the chief financial officer directly owned 2,553 shares in the company, valued at approximately $474,960.12. This trade represents a 38.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the business’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 completion of the sale, the senior vice president directly owned 72,968 shares of the company’s stock, valued at $13,922,294.40. The trade was a 3.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Machina Capital S.A.S. boosted its stake in shares of Dover by 38.8% during the 2nd quarter. Machina Capital S.A.S. now owns 8,779 shares of the industrial products company’s stock worth $1,609,000 after acquiring an additional 2,452 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Dover by 9.3% during the 2nd quarter. Nordea Investment Management AB now owns 124,031 shares of the industrial products company’s stock valued at $22,701,000 after buying an additional 10,581 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Dover by 1,034.4% during the 1st quarter. Acadian Asset Management LLC now owns 34,237 shares of the industrial products company’s stock valued at $6,012,000 after purchasing an additional 31,219 shares during the period. Advisory Resource Group increased its stake in Dover by 7.7% in the 2nd quarter. Advisory Resource Group now owns 28,732 shares of the industrial products company’s stock worth $5,264,000 after buying an additional 2,047 shares in the last quarter. Finally, Generali Asset Management SPA SGR grew its position in shares of Dover by 103.4% during the third quarter. Generali Asset Management SPA SGR now owns 16,020 shares of the industrial products company’s stock worth $2,673,000 after purchasing an additional 8,145 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

About Dover

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.