Dover (NYSE:DOV) PT Raised to $185.00 at Mizuho

Dover (NYSE:DOV) had its price objective upped by Mizuho from $180.00 to $185.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other equities analysts have also commented on DOV. Royal Bank of Canada upped their price objective on shares of Dover from $146.00 to $153.00 and gave the stock a sector perform rating in a report on Friday, February 2nd. Citigroup upped their price objective on shares of Dover from $180.00 to $205.00 and gave the stock a buy rating in a report on Monday, April 8th. StockNews.com lowered shares of Dover from a buy rating to a hold rating in a report on Friday, March 22nd. Robert W. Baird upped their price objective on shares of Dover from $185.00 to $208.00 and gave the stock an outperform rating in a report on Friday. Finally, Oppenheimer increased their target price on shares of Dover from $177.00 to $187.00 and gave the stock an outperform rating in a report on Thursday, April 18th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $185.75.

Dover Stock Performance

Dover stock opened at $180.04 on Friday. The firm has a 50 day simple moving average of $172.12 and a 200-day simple moving average of $154.75. Dover has a 1-year low of $127.25 and a 1-year high of $181.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.89. The stock has a market cap of $24.74 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 1.86 and a beta of 1.27.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.04%. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the company posted $1.94 EPS. The business’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts expect that Dover will post 9.1 EPS for the current year.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Wednesday, February 28th. Dover’s dividend payout ratio is presently 19.60%.

Insider Buying and Selling at Dover

In other Dover news, Director Stephen M. Todd sold 1,500 shares of the 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 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 legal filing with the SEC, which is available at the SEC website. In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,164,699.39. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were 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 in the company, valued at $3,929,666.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,910 shares of company stock valued at $4,318,059. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. AdvisorNet Financial Inc grew its position 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 buying an additional 188 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Dover in the 4th quarter valued at $33,000. Life Planning Partners Inc purchased a new position in shares of Dover in the 4th quarter valued at $35,000. Orion Capital Management LLC purchased a new position in shares of Dover in the 3rd quarter valued at $32,000. Finally, Headinvest LLC purchased a new position in shares of Dover in the 3rd quarter valued at $32,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.