Wells Fargo & Company Boosts Dover (NYSE:DOV) Price Target to $190.00

Dover (NYSE:DOV) had its target price boosted by equities researchers at Wells Fargo & Company from $177.00 to $190.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 5.46% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Seaport Res Ptn raised shares of Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Robert W. Baird upped their price objective on shares of Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Citigroup upped their price objective on shares of Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada upped their price objective on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $185.75.

Dover Trading Up 0.6 %

NYSE:DOV opened at $180.17 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.40 and a quick ratio of 0.90. The firm has a 50-day moving average of $171.75 and a 200-day moving average of $154.38. The company has a market cap of $24.75 billion, a PE ratio of 17.31, a PEG ratio of 1.85 and a beta of 1.27. Dover has a one year low of $127.25 and a one year high of $181.49.

Dover (NYSE:DOV) last posted its earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.41%. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the firm posted $1.94 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities research analysts expect that Dover will post 9.09 EPS for the current fiscal year.

Insider Buying and Selling at Dover

In related news, CFO Brad M. Cerepak sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the sale, the chief financial officer now directly owns 17,909 shares in the company, valued at approximately $3,164,699.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Brad M. Cerepak sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the sale, the chief financial officer now directly owns 17,909 shares in the company, valued at approximately $3,164,699.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen M. Todd sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the sale, the director now owns 22,955 shares in the company, valued at $3,929,666.45. The disclosure for this sale can be found here. Insiders have sold a total of 25,910 shares of company stock worth $4,318,059 over the last three months. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Dover

A number of institutional investors have recently modified their holdings of DOV. Orion Capital Management LLC purchased a new stake in shares of Dover during the 3rd quarter valued at approximately $32,000. Headinvest LLC purchased a new stake in Dover in the 3rd quarter worth approximately $32,000. Exchange Traded Concepts LLC purchased a new stake in Dover in the 4th quarter worth approximately $33,000. AdvisorNet Financial Inc lifted its stake in Dover by 783.3% in the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 188 shares in the last quarter. Finally, Life Planning Partners Inc purchased a new stake in Dover in the 4th quarter worth approximately $35,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

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.