Mizuho Issues Positive Forecast for Dover (NYSE:DOV) Stock Price

Dover (NYSE:DOV) had its price objective raised by Mizuho from $215.00 to $225.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Other research analysts also recently issued research reports about the company. Morgan Stanley began coverage on Dover in a report on Monday, April 14th. They set an “equal weight” rating and a $185.00 price target on the stock. Citigroup lowered their price target on Dover from $244.00 to $201.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. JPMorgan Chase & Co. lifted their price target on Dover from $190.00 to $211.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Finally, Barclays lifted their price target on Dover from $180.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, April 24th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.58.

Dover Stock Performance

Shares of NYSE DOV opened at $176.27 on Friday. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $24.17 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 2.06 and a beta of 1.27. The stock’s fifty day simple moving average is $173.47 and its 200 day simple moving average is $185.39. Dover has a 52-week low of $143.04 and a 52-week high of $222.31.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.06. Dover had a return on equity of 21.03% and a net margin of 32.95%. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the company posted $1.95 earnings per share. Dover’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, sell-side analysts forecast that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.17%. Dover’s payout ratio is 12.41%.

Institutional Trading of Dover

A number of institutional investors have recently bought and sold shares of DOV. North Capital Inc. acquired a new stake in shares of Dover in the first quarter worth about $29,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Dover in the first quarter worth about $31,000. Truvestments Capital LLC lifted its position in shares of Dover by 1,005.9% in the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock worth $33,000 after buying an additional 171 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock worth $37,000 after buying an additional 87 shares during the last quarter. Finally, Costello Asset Management INC acquired a new stake in shares of Dover in the first quarter worth about $35,000. 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.