Dover (NYSE:DOV) PT Raised to $190.00

Dover (NYSE:DOV) had its price target hoisted by analysts at Wells Fargo & Company from $177.00 to $190.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 5.46% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Seaport Res Ptn raised shares of Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Royal Bank of Canada boosted their price target on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Citigroup upped their target price on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, Robert W. Baird upped their target price on shares of Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and an average target price of $185.75.

Dover Price Performance

Shares of NYSE DOV opened at $180.17 on Friday. The firm has a market cap of $24.75 billion, a PE ratio of 17.31, a PEG ratio of 1.85 and a beta of 1.27. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59. Dover has a 1-year low of $127.25 and a 1-year high of $181.49. The company has a fifty day moving average price of $171.75 and a 200 day moving average price of $154.38.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.41%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the firm posted $1.94 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. Research analysts predict that Dover will post 9.09 earnings per share for the current fiscal year.

Insider Activity at Dover

In related news, CFO Brad M. Cerepak sold 18,410 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were 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 approximately $3,897,406.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Brad M. Cerepak sold 18,410 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were 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 approximately $3,897,406.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Brad M. Cerepak sold 6,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the completion of the transaction, the chief financial officer now owns 17,909 shares in the company, valued at approximately $3,164,699.39. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,910 shares of company stock worth $4,318,059. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Yousif Capital Management LLC increased its holdings in shares of Dover by 0.3% during the first quarter. Yousif Capital Management LLC now owns 64,383 shares of the industrial products company’s stock worth $11,408,000 after purchasing an additional 217 shares during the period. YHB Investment Advisors Inc. bought a new position in shares of Dover during the first quarter worth approximately $128,000. SlateStone Wealth LLC bought a new position in shares of Dover during the first quarter worth approximately $989,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Dover by 1.0% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 57,662 shares of the industrial products company’s stock worth $10,217,000 after purchasing an additional 547 shares during the period. Finally, Freedom Day Solutions LLC bought a new position in shares of Dover during the first quarter worth approximately $229,000. 84.46% of the stock is owned by 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.