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

Dover (NYSE:DOV) had its price target raised by Wells Fargo & Company from $180.00 to $190.00 in a report published on Friday,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

A number of other analysts also recently weighed in on DOV. Oppenheimer decreased their target price on shares of Dover from $225.00 to $220.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Dover in a report on Wednesday, October 8th. Robert W. Baird set a $235.00 target price on shares of Dover in a report on Friday. Citigroup restated a “buy” rating and issued a $226.00 target price (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. Finally, Barclays boosted their target price on shares of Dover from $190.00 to $195.00 and gave the company an “equal weight” rating in a report on Friday. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $212.00.

Dover Price Performance

Shares of NYSE:DOV opened at $177.64 on Friday. The firm has a market cap of $24.36 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. The firm’s fifty day moving average is $172.13 and its 200-day moving average is $176.10. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.44 and a current ratio of 2.04. 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, June 30th. The industrial products company reported $1.55 EPS for the quarter. The company had revenue of $1.78 billion for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. Sell-side analysts predict that Dover will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.2%. This is an increase from Dover’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, August 29th. Dover’s payout ratio is presently 12.55%.

Institutional Investors Weigh In On Dover

Several hedge funds and other institutional investors have recently bought and sold shares of DOV. Brighton Jones LLC increased its stake in Dover by 62.1% in the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock valued at $552,000 after purchasing an additional 1,128 shares in the last quarter. GAMMA Investing LLC increased its stake in Dover by 104.5% in the first quarter. GAMMA Investing LLC now owns 3,205 shares of the industrial products company’s stock valued at $563,000 after purchasing an additional 1,638 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Dover by 4.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,231 shares of the industrial products company’s stock valued at $2,852,000 after purchasing an additional 695 shares in the last quarter. Flagship Harbor Advisors LLC increased its stake in Dover by 9.5% in the first quarter. Flagship Harbor Advisors LLC now owns 1,174 shares of the industrial products company’s stock valued at $206,000 after purchasing an additional 102 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in Dover by 5.9% in the first quarter. Asset Management One Co. Ltd. now owns 57,102 shares of the industrial products company’s stock valued at $10,032,000 after purchasing an additional 3,185 shares in the last quarter. 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.