Brokerages Set Dover Co. (NYSE:DOV) Price Target at $185.75

Shares of Dover Co. (NYSE:DOV) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $185.75.

Several equities analysts have recently issued reports on DOV shares. Barclays boosted their price objective on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Royal Bank of Canada lifted their price objective on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Wells Fargo & Company raised their target price on shares of Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Seaport Res Ptn upgraded shares of Dover from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. Finally, Oppenheimer upped their target price on Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th.

Dover Trading Up 0.8 %

Shares of NYSE DOV opened at $178.99 on Friday. Dover has a 12-month low of $127.25 and a 12-month high of $182.33. The company has a market cap of $24.60 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 1.84 and a beta of 1.25. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58. The stock’s 50 day simple moving average is $173.44 and its 200 day simple moving average is $155.72.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.04%. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the company posted $1.94 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts expect that Dover will post 9.1 EPS for the current year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.14%. Dover’s dividend payout ratio (DPR) is currently 19.60%.

Insider Buying and Selling

In related news, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $171.19, for a total value of $256,785.00. Following the completion of the sale, the director now directly owns 22,955 shares of the company’s stock, valued at approximately $3,929,666.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Stephen M. Todd sold 1,500 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $171.19, for a total transaction of $256,785.00. Following the completion of the sale, the director now directly owns 22,955 shares of the company’s stock, valued at approximately $3,929,666.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brad M. Cerepak sold 6,000 shares of Dover stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total value of $1,060,260.00. Following the sale, the chief financial officer now owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,910 shares of company stock valued at $4,318,059. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DOV. Orion Capital Management LLC bought a new position in Dover during the third quarter valued at about $32,000. Headinvest LLC bought a new position in shares of Dover in the 3rd quarter valued at approximately $32,000. Exchange Traded Concepts LLC acquired a new stake in Dover in the 4th quarter worth approximately $33,000. AdvisorNet Financial Inc boosted 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 worth $33,000 after purchasing an additional 188 shares during the period. Finally, Life Planning Partners Inc bought a new position in shares of Dover in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Company Profile

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.