Dover (NYSE:DOV) Price Target Increased to $197.00 by Analysts at Oppenheimer

Dover (NYSE:DOV) had its price target hoisted by Oppenheimer from $187.00 to $197.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

A number of other brokerages have also issued reports on DOV. Robert W. Baird increased their price objective on Dover from $185.00 to $208.00 and gave the stock an outperform rating in a report on Friday. Seaport Res Ptn raised Dover from a neutral rating to a buy rating in a report on Monday, February 5th. Barclays increased their price objective on Dover from $180.00 to $186.00 and gave the stock an equal weight rating in a report on Friday. Citigroup upped their target price on Dover from $180.00 to $205.00 and gave the stock a buy rating in a research report on Monday, April 8th. Finally, StockNews.com downgraded Dover from a buy rating to a hold rating in a research report on Friday, March 22nd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $185.75.

Dover Stock Up 0.6 %

NYSE:DOV opened at $180.17 on Friday. The firm has a market capitalization of $24.75 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 1.85 and a beta of 1.27. The stock has a 50 day moving average of $171.75 and a 200-day moving average of $154.29. Dover has a 52 week low of $127.25 and a 52 week high of $181.49. 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 (NYSE:DOV) last posted its earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, beating the consensus estimate of $1.88 by $0.07. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 25.41% and a net margin of 17.28%. The business’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.94 earnings per share. Analysts predict that Dover will post 9.09 EPS for the current year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $2.04 annualized dividend and a dividend yield of 1.13%. Dover’s dividend payout ratio is 19.60%.

Insider Activity

In other news, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction dated 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction dated 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $1,060,260.00. Following the completion of the sale, the chief financial officer now owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The disclosure for this sale can be found here. Insiders sold a total of 25,910 shares of company stock worth $4,318,059 in the last three months. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DOV. Norges Bank bought a new position in Dover in the 4th quarter worth approximately $175,275,000. Adage Capital Partners GP L.L.C. increased its position in Dover by 160.2% in 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 period. Wellington Management Group LLP increased its position in Dover by 2,173.8% in the 3rd quarter. Wellington Management Group LLP now owns 817,125 shares of the industrial products company’s stock worth $113,997,000 after buying an additional 781,189 shares during the period. Franklin Resources Inc. increased its position in shares of Dover by 15.4% during the fourth quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock valued at $567,426,000 after purchasing an additional 492,577 shares during the period. Finally, FMR LLC increased its position in shares of Dover by 10.5% during the third quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock valued at $333,522,000 after purchasing an additional 226,646 shares during the period. 84.46% of the stock is 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.