Oppenheimer Boosts Dover (NYSE:DOV) Price Target to $174.00

Dover (NYSE:DOV – Get Rating) had its price target boosted by Oppenheimer from $167.00 to $174.00 in a research report sent to investors on Friday, The Fly reports. Oppenheimer also issued estimates for Dover’s Q2 2023 earnings at $2.00 EPS.

DOV has been the subject of several other reports. Citigroup lifted their price objective on shares of Dover from $175.00 to $184.00 and gave the company a buy rating in a research note on Monday, March 6th. Credit Suisse Group restated an outperform rating and set a $174.00 price objective on shares of Dover in a research note on Thursday. The Goldman Sachs Group boosted their target price on shares of Dover from $139.00 to $158.00 and gave the company a buy rating in a research note on Thursday, December 15th. Robert W. Baird started coverage on shares of Dover in a research note on Thursday. They issued a buy rating and a $176.00 target price for the company. Finally, StockNews.com upgraded shares of Dover from a hold rating to a buy rating in a research note on Friday, December 16th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $159.75.

Dover Stock Down 2.9 %

NYSE:DOV opened at $145.80 on Friday. The company has a market cap of $20.37 billion, a PE ratio of 19.62, a P/E/G ratio of 1.16 and a beta of 1.36. Dover has a twelve month low of $114.49 and a twelve month high of $162.88. The company has a current ratio of 1.23, a quick ratio of 0.74 and a debt-to-equity ratio of 0.69. The company’s 50 day moving average is $147.83 and its two-hundred day moving average is $136.66.

Dover (NYSE:DOV – Get Rating) last released its earnings results on Tuesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.01. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Dover had a net margin of 12.52% and a return on equity of 28.55%. Dover’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.78 EPS. Analysts anticipate that Dover will post 8.99 EPS for the current year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th will be issued a $0.505 dividend. This represents a $2.02 annualized dividend and a yield of 1.39%. The ex-dividend date is Monday, February 27th. Dover’s payout ratio is presently 27.19%.

Institutional Investors Weigh In On Dover

A number of large investors have recently modified their holdings of the business. Victory Capital Management Inc. grew its holdings in shares of Dover by 17.1% during the fourth quarter. Victory Capital Management Inc. now owns 160,227 shares of the industrial products company’s stock worth $21,696,000 after buying an additional 23,433 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Dover by 2.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 10,706 shares of the industrial products company’s stock worth $1,450,000 after buying an additional 243 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Dover by 2.6% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 6,575 shares of the industrial products company’s stock worth $890,000 after buying an additional 168 shares in the last quarter. National Pension Service grew its holdings in shares of Dover by 1.2% during the fourth quarter. National Pension Service now owns 223,162 shares of the industrial products company’s stock worth $30,218,000 after buying an additional 2,730 shares in the last quarter. Finally, Truist Financial Corp grew its holdings in shares of Dover by 12.6% during the fourth quarter. Truist Financial Corp now owns 46,040 shares of the industrial products company’s stock worth $6,234,000 after buying an additional 5,154 shares in the last quarter. Hedge funds and other institutional investors own 85.52% of the company’s stock.

About Dover

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Dover Corp. operates as a manufacturer and solutions provider delivering innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services. It operates through the following segments: Engineered Products, Clean Energy and Fueling, Imaging and Identification, Pumps and Process Solutions, and Climate and Sustainability Technologies.