Dover (NYSE:DOV) PT Raised to $187.00 at Oppenheimer

Dover (NYSE:DOV) had its price target increased by stock analysts at Oppenheimer from $177.00 to $187.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price objective would indicate a potential upside of 10.10% from the stock’s previous close.

Several other research firms also recently commented on DOV. StockNews.com downgraded Dover from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Seaport Res Ptn raised Dover from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. Robert W. Baird boosted their target price on Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Citigroup boosted their target price on Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Royal Bank of Canada upped their price target on Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $175.13.

Dover Trading Up 0.7 %

NYSE DOV opened at $169.84 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 0.59. Dover has a twelve month low of $127.25 and a twelve month high of $178.28. The firm has a market capitalization of $23.33 billion, a PE ratio of 22.59, a P/E/G ratio of 1.76 and a beta of 1.27. The stock’s 50 day moving average is $170.42 and its 200 day moving average is $153.04.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.01. Dover had a return on equity of 25.95% and a net margin of 12.52%. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the company posted $2.16 earnings per share. The firm’s revenue was down 1.5% on a year-over-year basis. Research analysts forecast that Dover will post 9.06 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 on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the completion of the sale, the chief financial officer now owns 23,909 shares in the company, valued at $3,897,406.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Brad M. Cerepak sold 18,410 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the completion of the sale, the chief financial officer now owns 23,909 shares in the company, valued at $3,897,406.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brad M. Cerepak sold 6,000 shares of the company’s stock in a transaction on 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 approximately $3,164,699.39. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,910 shares of company stock worth $4,318,059. 1.30% of the stock is owned by insiders.

Institutional Trading of Dover

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vontobel Holding Ltd. increased its position in Dover by 7.2% in the fourth quarter. Vontobel Holding Ltd. now owns 25,421 shares of the industrial products company’s stock worth $3,910,000 after buying an additional 1,718 shares in the last quarter. Nordea Investment Management AB increased its position in Dover by 5.5% in the fourth quarter. Nordea Investment Management AB now owns 557,953 shares of the industrial products company’s stock worth $85,612,000 after buying an additional 29,096 shares in the last quarter. Vest Financial LLC increased its position in Dover by 35.7% in the fourth quarter. Vest Financial LLC now owns 202,490 shares of the industrial products company’s stock worth $31,145,000 after buying an additional 53,273 shares in the last quarter. Chartwell Investment Partners LLC increased its position in Dover by 15.6% in the third quarter. Chartwell Investment Partners LLC now owns 6,733 shares of the industrial products company’s stock worth $939,000 after buying an additional 907 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Dover by 112.9% in the fourth quarter. SG Americas Securities LLC now owns 11,409 shares of the industrial products company’s stock worth $1,755,000 after buying an additional 6,050 shares in the last quarter. Hedge funds and other institutional investors 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.