Dover (NYSE:DOV) Price Target Raised to $200.00 at Mizuho

Dover (NYSE:DOV) had its price target hoisted by equities researchers at Mizuho from $185.00 to $200.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Mizuho’s price target would suggest a potential upside of 7.00% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Citigroup increased their price target on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Royal Bank of Canada raised their price target on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday. Wells Fargo & Company boosted their price objective on Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Robert W. Baird restated an “outperform” rating and set a $208.00 target price on shares of Dover in a report on Monday. Finally, Oppenheimer lifted their price target on shares of Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.63.

Dover Trading Up 0.3 %

NYSE:DOV traded up $0.60 during trading hours on Friday, hitting $186.92. 592,576 shares of the stock were exchanged, compared to its average volume of 1,012,092. The company has a market capitalization of $25.69 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 2.14 and a beta of 1.22. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $181.46 and its two-hundred day moving average is $172.25. Dover has a twelve month low of $127.25 and a twelve month high of $192.31.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.21 by $0.15. Dover had a net margin of 17.28% and a return on equity of 25.04%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the previous year, the company earned $2.05 EPS. Dover’s revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts anticipate that Dover will post 9.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. lifted its position in Dover by 7.2% during 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. BNP Paribas Financial Markets grew its stake in shares of Dover by 27.4% in the first quarter. BNP Paribas Financial Markets now owns 166,211 shares of the industrial products company’s stock valued at $29,451,000 after buying an additional 35,750 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Dover by 14.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 202,659 shares of the industrial products company’s stock worth $35,909,000 after buying an additional 25,562 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Dover by 9.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 226,382 shares of the industrial products company’s stock worth $34,820,000 after buying an additional 19,156 shares during the last quarter. Finally, Norges Bank acquired a new stake in Dover in the fourth quarter valued at $175,275,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

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.