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

Dover (NYSE:DOV) had its price target increased by Barclays from $186.00 to $190.00 in a research report report published on Wednesday morning, Benzinga reports. Barclays currently has an equal weight rating on the industrial products company’s stock.

DOV has been the topic of several other research reports. Mizuho increased their price target on shares of Dover from $185.00 to $200.00 and gave the stock an outperform rating in a research report on Friday, July 26th. Royal Bank of Canada increased their price target on shares of Dover from $192.00 to $193.00 and gave the stock a sector perform rating in a research report on Friday, July 26th. Robert W. Baird reissued an outperform rating and issued a $208.00 target price on shares of Dover in a report on Monday, July 22nd. Wells Fargo & Company raised their target price on shares of Dover from $190.00 to $197.00 and gave the stock an equal weight rating in a report on Monday, September 30th. Finally, Wolfe Research raised shares of Dover to a hold rating in a report on Friday, September 20th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $194.00.

Dover Stock Performance

Shares of DOV stock opened at $188.91 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53. Dover has a one year low of $127.25 and a one year high of $194.75. The company’s 50-day simple moving average is $183.05 and its 200-day simple moving average is $180.58. The stock has a market capitalization of $25.96 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.27 and a beta of 1.22.

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 17.58% and a return on equity of 24.94%. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter last year, the company posted $2.05 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities analysts anticipate that Dover will post 9.17 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, August 30th. This is a boost from Dover’s previous quarterly dividend of $0.51. Dover’s payout ratio is 19.79%.

Insider Activity

In other news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the sale, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the transaction, the chief executive officer now owns 182,928 shares in the company, valued at $33,285,578.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the transaction, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,383 shares of company stock valued at $8,169,883. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its position in Dover by 153.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after buying an additional 1,595,611 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Dover by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock worth $271,702,000 after buying an additional 60,912 shares during the last quarter. Wellington Management Group LLP grew its position in Dover by 50.7% in the fourth quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock worth $189,433,000 after buying an additional 414,481 shares during the last quarter. American Century Companies Inc. grew its position in Dover by 162.2% in the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock worth $124,195,000 after buying an additional 425,768 shares during the last quarter. Finally, Interval Partners LP boosted its stake in Dover by 110.0% in the 2nd quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock worth $105,216,000 after purchasing an additional 305,436 shares during the period. 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.