Mizuho Raises Dover (NYSE:DOV) Price Target to $185.00

Dover (NYSE:DOV) had its price target raised by Mizuho from $180.00 to $185.00 in a report issued on Friday morning, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

DOV has been the subject of several other reports. Barclays upped their price objective on Dover from $163.00 to $180.00 and gave the stock an equal weight rating in a research report on Tuesday, April 2nd. Citigroup raised their price target on shares of Dover from $180.00 to $205.00 and gave the stock a buy rating in a research note on Monday, April 8th. Royal Bank of Canada boosted 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. Oppenheimer raised their target price on shares of Dover from $177.00 to $187.00 and gave the company an outperform rating in a research report on Thursday, April 18th. Finally, StockNews.com cut shares of Dover from a buy rating to a hold rating in a research report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $185.75.

Dover Price Performance

Shares of DOV opened at $180.17 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 1.40. The firm has a market capitalization of $24.75 billion, a PE ratio of 17.31, a P/E/G ratio of 1.87 and a beta of 1.27. The stock has a 50 day simple moving average of $171.75 and a 200 day simple moving average of $154.47. Dover has a 52-week low of $127.25 and a 52-week high of $181.49.

Dover (NYSE:DOV) last issued 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 company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.03 billion. Dover had a net margin of 17.28% and a return on equity of 25.41%. The firm’s revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.94 earnings per share. Sell-side analysts predict that Dover will post 9.1 EPS for the current fiscal year.

Dover Dividend Announcement

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

Insiders Place Their Bets

In other news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total value of $3,001,014.10. Following the completion of the sale, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total value of $3,001,014.10. Following the sale, the chief financial officer now owns 23,909 shares in the company, valued at approximately $3,897,406.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $171.19, for a total transaction of $256,785.00. Following the transaction, the director now directly owns 22,955 shares of the company’s stock, 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 valued at $4,318,059 over the last 90 days. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dover

Hedge funds have recently bought and sold shares of the stock. Orion Capital Management LLC bought a new position in shares of Dover during the third quarter worth approximately $32,000. Headinvest LLC bought a new position in Dover during the 3rd quarter worth $32,000. Exchange Traded Concepts LLC acquired a new stake in shares of Dover during the fourth quarter worth $33,000. AdvisorNet Financial Inc boosted its position in shares of Dover by 783.3% in the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 188 shares during the period. Finally, Life Planning Partners Inc acquired a new position in shares of Dover in the fourth quarter valued at about $35,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.