Dover (NYSE:DOV) Given New $187.00 Price Target at Oppenheimer

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

A number of other research analysts also recently weighed in on DOV. Seaport Res Ptn raised Dover from a neutral rating to a buy rating in a research note on Monday, February 5th. Citigroup upped their price target on Dover from $180.00 to $205.00 and gave the stock a buy rating in a research note on Monday, April 8th. Royal Bank of Canada upped their price target on Dover from $146.00 to $153.00 and gave the stock a sector perform rating in a research note on Friday, February 2nd. Barclays upped their price target on Dover from $163.00 to $180.00 and gave the stock an equal weight rating in a research note on Tuesday, April 2nd. Finally, Robert W. Baird upped their price target on Dover from $175.00 to $185.00 and gave the stock an outperform rating in a research note on Thursday, March 28th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $175.13.

Dover Stock Up 0.7 %

Shares of NYSE:DOV opened at $169.84 on Thursday. The company has a market capitalization of $23.33 billion, a price-to-earnings ratio of 22.59, a P/E/G ratio of 1.76 and a beta of 1.27. 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 business’s 50-day moving average is $170.42 and its 200-day moving average is $153.26. Dover has a 1 year low of $127.25 and a 1 year high of $178.28.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.01. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.16 billion. Dover had a return on equity of 25.95% and a net margin of 12.52%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.16 EPS. Equities research analysts predict that Dover will post 9.06 earnings per share for the current year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Wednesday, February 28th. Dover’s dividend payout ratio is currently 27.13%.

Insiders Place Their Bets

In other Dover news, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $171.19, for a total transaction of $256,785.00. Following the completion of the sale, the director now directly owns 22,955 shares of the company’s stock, valued at approximately $3,929,666.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Brad M. Cerepak sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total value of $1,060,260.00. Following the completion of the transaction, the chief financial officer now directly owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen M. Todd sold 1,500 shares of the company’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 value of $256,785.00. Following the completion of the transaction, the director now directly owns 22,955 shares of the company’s stock, valued at $3,929,666.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,910 shares of company stock valued at $4,318,059. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Dover

Several institutional investors have recently modified their holdings of DOV. Norges Bank purchased a new position in Dover in the fourth quarter valued at approximately $167,153,000. Price T Rowe Associates Inc. MD lifted its stake in Dover by 112.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,902,351 shares of the industrial products company’s stock valued at $257,597,000 after purchasing an additional 1,005,470 shares during the last quarter. CI Private Wealth LLC purchased a new position in Dover in the fourth quarter valued at approximately $126,175,000. Adage Capital Partners GP L.L.C. lifted its stake in Dover by 160.2% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock valued at $199,319,000 after purchasing an additional 879,533 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Dover by 2,173.8% in the third quarter. Wellington Management Group LLP now owns 817,125 shares of the industrial products company’s stock valued at $113,997,000 after purchasing an additional 781,189 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

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.