Dover (NYSE:DOV) PT Raised to $186.00 at Barclays

Dover (NYSE:DOV) had its target price boosted by Barclays from $180.00 to $186.00 in a research report released on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the industrial products company’s stock.

DOV has been the subject of a number of other research reports. StockNews.com downgraded shares of Dover from a buy rating to a hold rating in a report on Friday, March 22nd. Robert W. Baird lifted their target price on Dover from $185.00 to $208.00 and gave the company an outperform rating in a research report on Friday. Citigroup increased their price target on Dover from $180.00 to $205.00 and gave the stock a buy rating in a report on Monday, April 8th. Seaport Res Ptn raised shares of Dover from a neutral rating to a buy rating in a research report on Monday, February 5th. 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 report on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $185.75.

Dover Stock Up 0.6 %

NYSE:DOV opened at $180.17 on Friday. The stock has a fifty day simple moving average of $171.75 and a 200-day simple moving average of $154.47. Dover has a twelve month low of $127.25 and a twelve month high of $181.49. The company has a market cap of $24.75 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 1.87 and a beta of 1.27. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.07. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Dover had a return on equity of 25.41% and a net margin of 17.28%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the business posted $1.94 earnings per share. Analysts anticipate that Dover will post 9.1 EPS for the current year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.13%. The ex-dividend date was Wednesday, February 28th. Dover’s dividend payout ratio (DPR) is presently 19.60%.

Insider Buying and Selling

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $163.01, for a total value of $3,001,014.10. Following the transaction, the chief financial officer now directly owns 23,909 shares in the company, valued at $3,897,406.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Brad M. Cerepak sold 6,000 shares of Dover 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 transaction, the chief financial officer now directly owns 17,909 shares of the company’s stock, valued at approximately $3,164,699.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the completion of the transaction, the chief financial officer now owns 23,909 shares in the company, valued at $3,897,406.09. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,910 shares of company stock worth $4,318,059. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Dover

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. lifted its position in Dover by 15.4% during the 4th quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock worth $567,426,000 after acquiring an additional 492,577 shares during the period. FMR LLC raised its stake in shares of Dover by 10.5% during the third quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock worth $333,522,000 after purchasing an additional 226,646 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Dover by 5.5% during the third quarter. Northern Trust Corp now owns 1,724,613 shares of the industrial products company’s stock worth $240,601,000 after purchasing an additional 89,774 shares during the period. Dimensional Fund Advisors LP grew its position in Dover by 10.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,428,878 shares of the industrial products company’s stock valued at $219,778,000 after buying an additional 140,089 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in Dover by 160.2% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock valued at $199,319,000 after buying an additional 879,533 shares during the period. Hedge funds and other institutional investors 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.