Dover (NYSE:DOV) PT Raised to $193.00

Dover (NYSE:DOV) had its price objective hoisted by Royal Bank of Canada from $192.00 to $193.00 in a report published on Friday, Benzinga reports. They currently have a sector perform rating on the industrial products company’s stock.

DOV has been the topic of a number of other reports. 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, April 26th. Robert W. Baird reissued an outperform rating and issued a $208.00 price target on shares of Dover in a report on Monday, July 22nd. StockNews.com raised shares of Dover from a hold rating to a buy rating in a report on Friday, April 26th. Wells Fargo & Company boosted their target price on shares of Dover from $177.00 to $190.00 and gave the stock an equal weight rating in a report on Friday, April 26th. Finally, Mizuho raised their target price on shares of Dover from $180.00 to $185.00 and gave the company a buy rating in a research note on Friday, April 26th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $192.63.

Dover Stock Up 0.7 %

DOV stock opened at $186.47 on Friday. The business’s 50-day moving average price is $181.51 and its 200-day moving average price is $173.13. The stock has a market cap of $25.63 billion, a P/E ratio of 17.91, a PEG ratio of 2.24 and a beta of 1.22. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55. Dover has a twelve month low of $127.25 and a twelve month high of $192.31.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.05 earnings per share. On average, equities research analysts forecast that Dover will post 9.13 EPS for the current year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, May 31st. Dover’s payout ratio is 19.60%.

Institutional Investors Weigh In On Dover

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LRI Investments LLC bought a new position in shares of Dover during the 1st quarter valued at approximately $28,000. McClarren Financial Advisors Inc. boosted its stake in Dover by 4,400.0% during the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after buying an additional 176 shares during the period. AdvisorNet Financial Inc increased its position in Dover by 783.3% during the fourth 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 during the last quarter. Life Planning Partners Inc purchased a new stake in shares of Dover in the fourth quarter valued at $35,000. Finally, Transcendent Capital Group LLC lifted its holdings in shares of Dover by 208.0% in the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 156 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

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.