Barclays Raises Dover (NYSE:DOV) Price Target to $190.00

Dover (NYSE:DOV) had its price target boosted by Barclays from $186.00 to $190.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

Several other equities research analysts have also commented on DOV. Wells Fargo & Company boosted their price target on Dover from $190.00 to $197.00 and gave the stock an equal weight rating in a research note on Monday, September 30th. Royal Bank of Canada upped their target price on Dover from $192.00 to $193.00 and gave the company a sector perform rating in a research note on Friday, July 26th. Wolfe Research raised Dover to a hold rating in a research note on Friday, September 20th. Robert W. Baird reaffirmed an outperform rating and issued a $208.00 target price on shares of Dover in a research note on Monday, July 22nd. Finally, Mizuho upped their target price on Dover from $185.00 to $200.00 and gave the company an outperform rating in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $194.00.

Dover Stock Performance

NYSE DOV opened at $188.91 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average is $183.05 and its two-hundred day moving average is $180.58. Dover has a 12-month low of $127.25 and a 12-month high of $194.75. The stock has a market capitalization of $25.96 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.27 and a beta of 1.22.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.21 by $0.15. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.05 EPS. Research analysts expect that Dover will post 9.17 EPS for the current year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.09%. This is an increase from Dover’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, August 30th. Dover’s dividend payout ratio is presently 19.79%.

Insider Transactions at Dover

In other news, CEO Richard J. Tobin sold 25,004 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the completion of the sale, the chief executive officer now directly owns 182,928 shares in the company, valued at $33,285,578.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Brad M. Cerepak sold 14,818 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction on Wednesday, August 21st. The shares were 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 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. Insiders sold a total of 45,383 shares of company stock worth $8,169,883 in the last ninety days. Insiders own 1.30% of the company’s stock.

Institutional Trading of Dover

Several large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its holdings in Dover by 167.7% in the 3rd quarter. SG Americas Securities LLC now owns 101,591 shares of the industrial products company’s stock valued at $19,479,000 after purchasing an additional 63,638 shares in the last quarter. Czech National Bank grew its stake in shares of Dover by 6.9% during the third quarter. Czech National Bank now owns 28,001 shares of the industrial products company’s stock valued at $5,369,000 after acquiring an additional 1,812 shares in the last quarter. Cannon Financial Strategists Inc. acquired a new stake in shares of Dover during the second quarter valued at about $279,000. Sanctuary Advisors LLC acquired a new stake in shares of Dover during the second quarter valued at about $3,175,000. Finally, Chase Investment Counsel Corp grew its stake in shares of Dover by 23.5% during the second quarter. Chase Investment Counsel Corp now owns 1,575 shares of the industrial products company’s stock valued at $284,000 after acquiring an additional 300 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.