Oppenheimer Boosts Dover (NYSE:DOV) Price Target to $197.00

Dover (NYSE:DOV) had its price target boosted by Oppenheimer from $187.00 to $197.00 in a research report released on Friday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the industrial products company’s stock.

A number of other equities analysts have also weighed in on DOV. Citigroup increased their target price on Dover from $180.00 to $205.00 and gave the stock a buy rating in a research note on Monday, April 8th. Mizuho increased their target price on Dover from $180.00 to $185.00 and gave the stock a buy rating in a research note on Friday. Wells Fargo & Company increased their target price on Dover from $177.00 to $190.00 and gave the stock an equal weight rating in a research note on Friday. Barclays raised their price objective on Dover from $180.00 to $186.00 and gave the stock an equal weight rating in a research note on Friday. Finally, Seaport Res Ptn upgraded Dover from a neutral rating to a buy rating in a research note on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $185.75.

Dover Stock Performance

DOV opened at $180.17 on Friday. Dover has a 12-month low of $127.25 and a 12-month high of $181.49. The stock has a market cap of $24.75 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 1.85 and a beta of 1.27. The business has a 50 day moving average of $171.75 and a 200-day moving average of $154.29. 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 (NYSE:DOV) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. Dover had a return on equity of 25.41% and a net margin of 17.28%. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the firm posted $1.94 earnings per share. The business’s revenue was up .7% on a year-over-year basis. On average, equities research analysts expect that Dover will post 9.09 earnings per share for the current year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.51 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $2.04 annualized dividend and a dividend yield of 1.13%. 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 on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total value of $3,001,014.10. Following the transaction, the chief financial officer now owns 23,909 shares in the company, valued at approximately $3,897,406.09. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $3,897,406.09. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brad M. Cerepak sold 6,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total value 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 25,910 shares of company stock worth $4,318,059. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DOV. BSW Wealth Partners lifted its stake in shares of Dover by 1.2% in the 1st quarter. BSW Wealth Partners now owns 4,930 shares of the industrial products company’s stock valued at $874,000 after purchasing an additional 59 shares during the period. Summit Trail Advisors LLC lifted its stake in shares of Dover by 2.6% in the 1st quarter. Summit Trail Advisors LLC now owns 2,333 shares of the industrial products company’s stock valued at $413,000 after purchasing an additional 60 shares during the period. Legacy Financial Advisors Inc. lifted its stake in shares of Dover by 1.7% in the 4th quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock valued at $577,000 after purchasing an additional 63 shares during the period. CWM LLC lifted its stake in shares of Dover by 2.7% in the 1st quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock valued at $435,000 after purchasing an additional 65 shares during the period. Finally, Wedmont Private Capital lifted its stake in shares of Dover by 4.0% in the 1st quarter. Wedmont Private Capital now owns 1,778 shares of the industrial products company’s stock valued at $315,000 after purchasing an additional 68 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

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.