Stifel Nicolaus Increases Dover (DOV) Price Target to $92.00

Dover (NYSE:DOV) had its price objective raised by Stifel Nicolaus from $85.00 to $92.00 in a report issued on Wednesday morning, The Fly reports. The firm currently has a hold rating on the industrial products company’s stock.

DOV has been the topic of several other research reports. ValuEngine upgraded Dover from a sell rating to a hold rating in a report on Tuesday, July 31st. MED started coverage on Dover in a report on Thursday, July 12th. They issued a hold rating and a $79.00 price target on the stock. Barclays cut their price target on Dover from $94.00 to $88.00 and set an overweight rating on the stock in a report on Monday, July 9th. Zacks Investment Research upgraded Dover from a strong sell rating to a hold rating in a report on Tuesday, July 17th. Finally, Morgan Stanley cut their price target on Dover from $88.00 to $83.00 and set an overweight rating on the stock in a report on Friday, July 20th. Thirteen analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Dover currently has a consensus rating of Hold and a consensus target price of $92.77.

Shares of NYSE:DOV opened at $88.48 on Wednesday. The company has a market capitalization of $12.96 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.51 and a beta of 1.36. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.93 and a current ratio of 1.35. Dover has a 52-week low of $70.12 and a 52-week high of $88.71.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 19th. The industrial products company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.09. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.78 billion. Dover had a return on equity of 18.66% and a net margin of 9.64%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 earnings per share. equities research analysts anticipate that Dover will post 4.83 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Friday, August 31st will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Thursday, August 30th. This is a positive change from Dover’s previous quarterly dividend of $0.47. Dover’s dividend payout ratio (DPR) is currently 47.64%.

In other news, Director Kristiane C. Graham sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $82.75, for a total value of $4,137,500.00. Following the transaction, the director now owns 367,324 shares in the company, valued at $30,396,061. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Edgestream Partners L.P. bought a new position in shares of Dover in the second quarter valued at approximately $742,000. Rhumbline Advisers lifted its holdings in Dover by 6.7% during the second quarter. Rhumbline Advisers now owns 317,036 shares of the industrial products company’s stock worth $23,207,000 after acquiring an additional 19,824 shares during the period. Reilly Herbert Faulkner III lifted its holdings in Dover by 2.7% during the second quarter. Reilly Herbert Faulkner III now owns 50,792 shares of the industrial products company’s stock worth $3,718,000 after acquiring an additional 1,328 shares during the period. Duncker Streett & Co. Inc. lifted its holdings in Dover by 22.3% during the second quarter. Duncker Streett & Co. Inc. now owns 26,110 shares of the industrial products company’s stock worth $1,911,000 after acquiring an additional 4,762 shares during the period. Finally, Riverhead Capital Management LLC lifted its holdings in Dover by 33.5% during the second quarter. Riverhead Capital Management LLC now owns 5,622 shares of the industrial products company’s stock worth $412,000 after acquiring an additional 1,410 shares during the period. Institutional investors own 90.92% of the company’s stock.

Dover Company Profile

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual clamps, power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.

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