Dover (NYSE:DOV) Price Target Increased to $190.00 by Analysts at Wells Fargo & Company

Dover (NYSE:DOV) had its price objective raised by Wells Fargo & Company from $177.00 to $190.00 in a report released on Friday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the industrial products company’s stock.

Several other brokerages have also commented on DOV. Citigroup lifted their price target 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. Seaport Res Ptn upgraded 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 report on Friday, March 22nd. Oppenheimer raised their price objective on shares of Dover from $177.00 to $187.00 and gave the stock an outperform rating in a research report on Thursday, April 18th. Finally, Mizuho raised their price objective on shares of Dover from $180.00 to $185.00 and gave the stock a buy rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Dover has an average rating of Moderate Buy and an average price target of $185.75.

Dover Price Performance

Shares of NYSE:DOV opened at $180.17 on Friday. The company’s fifty day moving average price is $171.75 and its 200 day moving average price is $154.29. Dover has a 12 month low of $127.25 and a 12 month high of $181.49. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.40 and a quick ratio of 0.90. The firm has a market capitalization of $24.75 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.85 and a beta of 1.27.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.41%. The firm 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. Dover’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, sell-side analysts predict that Dover will post 9.09 earnings per share for the current fiscal year.

Dover Dividend Announcement

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

A number of institutional investors have recently added to or reduced their stakes in the stock. BSW Wealth Partners boosted its holdings in Dover by 1.2% during the first quarter. BSW Wealth Partners now owns 4,930 shares of the industrial products company’s stock worth $874,000 after buying an additional 59 shares in the last quarter. Summit Trail Advisors LLC increased its position in Dover by 2.6% during the first quarter. Summit Trail Advisors LLC now owns 2,333 shares of the industrial products company’s stock worth $413,000 after purchasing an additional 60 shares during the last quarter. Legacy Financial Advisors Inc. grew its stake in Dover by 1.7% during the fourth quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock worth $577,000 after buying an additional 63 shares during the period. CWM LLC grew its stake in Dover by 2.7% during the first quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock worth $435,000 after buying an additional 65 shares during the period. Finally, Wedmont Private Capital grew its stake in Dover by 4.0% during the first quarter. Wedmont Private Capital now owns 1,778 shares of the industrial products company’s stock worth $315,000 after buying an additional 68 shares during the period. Hedge funds and other institutional investors 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.