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

Dover (NYSE:DOV) had its price objective hoisted by investment analysts at Wells Fargo & Company from $177.00 to $190.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 4.82% from the company’s previous close.

DOV has been the subject of several other reports. Seaport Res Ptn upgraded shares of Dover from a “neutral” rating to a “buy” rating in a research report 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. Barclays lifted their price target on shares of Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research report on Friday. Royal Bank of Canada lifted their price target on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Finally, Mizuho lifted their price target on shares of Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $185.75.

Dover Trading Up 1.2 %

Dover stock traded up $2.15 during mid-day trading on Friday, hitting $181.26. 437,596 shares of the company’s stock were exchanged, compared to its average volume of 960,314. The firm has a market capitalization of $24.90 billion, a P/E ratio of 24.07, a PEG ratio of 1.78 and a beta of 1.27. The company’s 50 day simple moving average is $171.37 and its 200-day simple moving average is $154.02. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 0.59. Dover has a fifty-two week low of $127.25 and a fifty-two week high of $181.49.

Dover (NYSE:DOV) last issued its earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.07. Dover had a net margin of 12.52% and a return on equity of 25.95%. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business posted $1.94 EPS. Dover’s revenue was up .7% on a year-over-year basis. On average, equities analysts anticipate that Dover will post 9.07 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Brad M. Cerepak sold 6,000 shares of Dover stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the sale, the chief financial officer now directly owns 17,909 shares in the company, valued at approximately $3,164,699.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Brad M. Cerepak sold 6,000 shares of Dover stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the sale, the chief financial officer now directly owns 17,909 shares in the company, valued at approximately $3,164,699.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the sale, the chief financial officer now owns 23,909 shares in the company, valued at $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 worth $4,318,059 in the last ninety days. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DOV. Orion Capital Management LLC acquired a new position in shares of Dover in the 3rd quarter worth approximately $32,000. Headinvest LLC bought a new stake in shares of Dover in the 3rd quarter valued at $32,000. Exchange Traded Concepts LLC bought a new stake in shares of Dover in the 4th quarter valued at $33,000. AdvisorNet Financial Inc increased its stake in shares of Dover by 783.3% in the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 188 shares in the last quarter. Finally, Life Planning Partners Inc bought a new stake in shares of Dover in the 4th quarter valued at $35,000. Institutional investors and hedge funds 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.