Barclays Raises Dover (NYSE:DOV) Price Target to $186.00

Dover (NYSE:DOV) had its price target lifted by Barclays from $180.00 to $186.00 in a report published on Friday, Benzinga reports. Barclays currently has an equal weight rating on the industrial products company’s stock.

Several other equities research analysts have also commented on the stock. Seaport Res Ptn upgraded shares of Dover from a neutral rating to a buy rating in a research note on Monday, February 5th. Robert W. Baird lifted their price target on shares of Dover from $185.00 to $208.00 and gave the stock an outperform rating in a research note on Friday. Oppenheimer lifted their price target on shares of Dover from $177.00 to $187.00 and gave the stock an outperform rating in a research note on Thursday, April 18th. StockNews.com lowered shares of Dover from a buy rating to a hold rating in a research note on Friday, March 22nd. Finally, Royal Bank of Canada lifted their price target 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. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dover presently has a consensus rating of Moderate Buy and an average price target of $185.75.

Dover Price Performance

Shares of DOV opened at $180.17 on Friday. Dover has a twelve month low of $127.25 and a twelve month high of $181.49. The firm’s fifty day simple moving average is $171.75 and its 200-day simple moving average is $154.29. The firm has a market capitalization of $24.75 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 1.85 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 (NYSE:DOV) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.41%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the business earned $1.94 EPS. The company’s revenue was up .7% on a year-over-year basis. Equities analysts forecast that Dover will post 9.09 EPS for the current fiscal year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $0.51 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $2.04 dividend on an annualized basis and a yield of 1.13%. Dover’s dividend payout ratio is presently 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 shares were 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 owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction dated 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 owns 22,955 shares of the company’s stock, valued at $3,929,666.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction dated 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 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. Insiders have sold a total of 25,910 shares of company stock valued at $4,318,059 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Dover

Institutional investors have recently added to or reduced their stakes in the stock. Orion Capital Management LLC purchased a new stake in Dover during the third quarter worth about $32,000. Headinvest LLC purchased a new stake in Dover during the third quarter worth about $32,000. Exchange Traded Concepts LLC purchased a new stake in Dover during the fourth quarter worth about $33,000. AdvisorNet Financial Inc boosted its holdings in Dover by 783.3% during the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after buying an additional 188 shares in the last quarter. Finally, Life Planning Partners Inc purchased a new stake in Dover during the fourth quarter worth about $35,000. Hedge funds and other 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.