Dover (NYSE:DOV) Price Target Increased to $187.00 by Analysts at Oppenheimer

Dover (NYSE:DOV) had its price target upped by equities research analysts at Oppenheimer from $177.00 to $187.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price target would indicate a potential upside of 10.32% from the stock’s previous close.

Several other research firms have also weighed in on DOV. Seaport Res Ptn raised Dover from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Royal Bank of Canada increased their price target on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Barclays lifted their price objective on shares of Dover from $163.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Citigroup upped their target price on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Robert W. Baird boosted their price target on shares of Dover from $175.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Dover has an average rating of “Moderate Buy” and an average price target of $175.13.

Dover Stock Performance

Shares of NYSE:DOV opened at $169.50 on Thursday. The stock has a market capitalization of $23.29 billion, a P/E ratio of 22.54, a P/E/G ratio of 1.78 and a beta of 1.27. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59. Dover has a 1-year low of $127.25 and a 1-year high of $178.28. The business has a 50-day moving average price of $170.06 and a two-hundred day moving average price of $152.71.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.01. Dover had a net margin of 12.52% and a return on equity of 25.95%. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the firm posted $2.16 earnings per share. Dover’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities analysts predict that Dover will post 9.06 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction dated 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 $3,897,406.09. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the sale, the director now directly owns 22,955 shares in the company, valued at $3,929,666.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the completion of 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 ninety days, insiders sold 25,910 shares of company stock valued at $4,318,059. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DOV. Norges Bank acquired a new position in shares of Dover during the 4th quarter worth about $167,153,000. Price T Rowe Associates Inc. MD boosted its position in Dover by 112.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,902,351 shares of the industrial products company’s stock valued at $257,597,000 after purchasing an additional 1,005,470 shares during the last quarter. CI Private Wealth LLC bought a new position in Dover in the fourth quarter valued at approximately $126,175,000. Adage Capital Partners GP L.L.C. increased its position 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 purchasing an additional 879,533 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Dover by 2,173.8% during the 3rd quarter. Wellington Management Group LLP now owns 817,125 shares of the industrial products company’s stock worth $113,997,000 after purchasing an additional 781,189 shares in the last quarter. 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.