JPMorgan Chase & Co. Raises Dover (NYSE:DOV) Price Target to $212.00

Dover (NYSE:DOV) had its price objective hoisted by JPMorgan Chase & Co. from $210.00 to $212.00 in a report published on Friday morning, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other brokerages have also recently weighed in on DOV. Barclays lifted their price objective on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Oppenheimer reissued an “outperform” rating and set a $215.00 target price (up previously from $210.00) on shares of Dover in a report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Robert W. Baird restated an “outperform” rating and issued a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. Finally, Wolfe Research raised Dover to a “hold” rating in a report on Friday, September 20th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.00.

Dover Stock Performance

Shares of NYSE DOV opened at $186.98 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55. The firm’s 50-day moving average price is $186.80 and its two-hundred day moving average price is $182.28. The stock has a market capitalization of $25.70 billion, a P/E ratio of 17.96, a P/E/G ratio of 2.20 and a beta of 1.22. Dover has a 52-week low of $127.25 and a 52-week high of $195.68.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.15. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. Dover’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $2.05 EPS. As a group, sell-side analysts forecast that Dover will post 9.18 earnings per share for the current year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.515 dividend. This is an increase from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, August 30th. Dover’s dividend payout ratio (DPR) is 19.79%.

Insider Activity at Dover

In other Dover news, CFO Brad M. Cerepak sold 4,341 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total transaction of $801,305.19. Following the sale, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total transaction of $801,305.19. Following the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at approximately $2,274,887.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the completion of the sale, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,383 shares of company stock worth $8,169,883. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dover

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DOV. LRI Investments LLC acquired a new position in Dover in the 1st quarter worth about $27,000. McClarren Financial Advisors Inc. raised its position in Dover by 4,400.0% during the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 176 shares in the last quarter. Fairscale Capital LLC acquired a new stake in Dover in the second quarter valued at approximately $34,000. Transcendent Capital Group LLC grew its position in Dover by 208.0% in the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 156 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Dover during the 2nd quarter worth $41,000. 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.