Dover (NYSE:DOV) Price Target Raised to $190.00

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

Several other research firms have also recently commented on DOV. Barclays raised their price target on Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a report on Friday. Mizuho raised their price target on Dover from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday. StockNews.com cut Dover from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Robert W. Baird raised their price target on Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a report on Friday. Finally, Oppenheimer raised their price target on Dover from $177.00 to $187.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Dover presently has an average rating of “Moderate Buy” and a consensus target price of $185.75.

Dover Stock Performance

Shares of DOV stock traded up $2.15 during midday trading on Friday, hitting $181.26. The company had a trading volume of 437,596 shares, compared to its average volume of 960,314. The company’s 50 day simple moving average is $171.37 and its 200 day simple moving average is $154.02. Dover has a 52-week low of $127.25 and a 52-week high of $181.49. The stock has a market cap of $24.90 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 1.78 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.

Dover (NYSE:DOV) last announced its 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 return on equity of 25.95% and a net margin of 12.52%. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business posted $1.94 EPS. The company’s revenue was up .7% on a year-over-year basis. Research analysts anticipate that Dover will post 9.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction dated 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 $3,897,406.09. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the company’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brad M. Cerepak sold 6,000 shares of the company’s 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 transaction, the chief financial officer now directly owns 17,909 shares of the company’s stock, valued at $3,164,699.39. 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 over the last quarter. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dover

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. grew its holdings in Dover by 7.2% in the 4th quarter. Vontobel Holding Ltd. now owns 25,421 shares of the industrial products company’s stock worth $3,910,000 after buying an additional 1,718 shares in the last quarter. Nordea Investment Management AB grew its holdings in Dover by 5.5% in the 4th quarter. Nordea Investment Management AB now owns 557,953 shares of the industrial products company’s stock worth $85,612,000 after buying an additional 29,096 shares in the last quarter. Vest Financial LLC grew its holdings in Dover by 35.7% in the 4th quarter. Vest Financial LLC now owns 202,490 shares of the industrial products company’s stock worth $31,145,000 after buying an additional 53,273 shares in the last quarter. Chartwell Investment Partners LLC lifted its position in Dover by 15.6% in the third quarter. Chartwell Investment Partners LLC now owns 6,733 shares of the industrial products company’s stock worth $939,000 after purchasing an additional 907 shares during the period. Finally, SG Americas Securities LLC lifted its position in Dover by 112.9% in the fourth quarter. SG Americas Securities LLC now owns 11,409 shares of the industrial products company’s stock worth $1,755,000 after purchasing an additional 6,050 shares during the period. 84.46% of the stock is owned by 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.