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

Dover (NYSE:DOV) had its target price raised by Oppenheimer from $177.00 to $187.00 in a research note released on Thursday, Benzinga reports. Oppenheimer currently has an outperform rating on the industrial products company’s stock.

A number of other equities analysts also recently weighed in on the stock. Royal Bank of Canada boosted their target price on shares of Dover from $146.00 to $153.00 and gave the stock a sector perform rating in a research note on Friday, February 2nd. Seaport Res Ptn raised shares of Dover from a neutral rating to a buy rating in a research note on Monday, February 5th. StockNews.com downgraded shares of Dover from a buy rating to a hold rating in a research note on Friday, March 22nd. Robert W. Baird boosted their target price on shares of Dover from $175.00 to $185.00 and gave the stock an outperform rating in a research note on Thursday, March 28th. Finally, Citigroup boosted their target price on shares of Dover from $180.00 to $205.00 and gave the stock a buy rating in a research note on Monday, April 8th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $175.13.

Dover Trading Down 0.5 %

Shares of DOV stock opened at $168.61 on Thursday. Dover has a 12-month low of $127.25 and a 12-month high of $178.28. The company has a market capitalization of $23.16 billion, a P/E ratio of 22.42, a P/E/G ratio of 1.76 and a beta of 1.27. The firm has a 50-day moving average price of $170.23 and a 200 day moving average price of $152.82. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 0.59.

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

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Wednesday, February 28th. Dover’s dividend payout ratio is 27.13%.

Insider Transactions at Dover

In related news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the completion of the transaction, the chief financial officer now owns 23,909 shares in the company, valued at $3,897,406.09. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the completion of the transaction, the chief financial officer now owns 23,909 shares in the company, valued at $3,897,406.09. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the transaction, the director now owns 22,955 shares of the company’s stock, valued at approximately $3,929,666.45. 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 quarter. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Fairfield Bush & CO. bought a new stake in shares of Dover during the first quarter worth $48,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Dover during the first quarter worth $938,000. Raymond James Trust N.A. increased its position in shares of Dover by 5.8% during the first quarter. Raymond James Trust N.A. now owns 5,645 shares of the industrial products company’s stock worth $886,000 after acquiring an additional 310 shares in the last quarter. Vontobel Holding Ltd. increased its position in shares of Dover by 6.5% during the first quarter. Vontobel Holding Ltd. now owns 9,126 shares of the industrial products company’s stock worth $1,465,000 after acquiring an additional 561 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of Dover by 6.1% during the first quarter. Sei Investments Co. now owns 140,560 shares of the industrial products company’s stock worth $22,055,000 after acquiring an additional 8,054 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Company Profile

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.