Barclays Issues Positive Forecast for Dover (NYSE:DOV) Stock Price

Dover (NYSE:DOV) had its price objective lifted by Barclays from $195.00 to $205.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

DOV has been the subject of several other reports. Oppenheimer raised their price objective on shares of Dover from $225.00 to $228.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. Royal Bank Of Canada boosted their price objective on Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a report on Friday, October 24th. BNP Paribas assumed coverage on Dover in a report on Thursday, December 4th. They set a “neutral” rating and a $195.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Finally, Wells Fargo & Company upped their price target on Dover from $200.00 to $205.00 and gave the company an “equal weight” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $217.09.

Dover Price Performance

Shares of NYSE DOV opened at $199.60 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 2.04 and a debt-to-equity ratio of 0.35. Dover has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The business has a 50 day moving average price of $189.89 and a two-hundred day moving average price of $181.65. The firm has a market cap of $27.38 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 1.42 and a beta of 1.31.

Dover (NYSE:DOV) last released its earnings results on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. The company had revenue of $1.78 billion during the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%. Sell-side analysts expect that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $2.08 annualized dividend and a yield of 1.0%. Dover’s dividend payout ratio (DPR) is presently 12.79%.

Insider Transactions at Dover

In other news, SVP Ivonne M. Cabrera sold 2,630 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total value of $501,804.00. Following the completion of the sale, the senior vice president directly owned 72,968 shares of the company’s stock, valued at approximately $13,922,294.40. This represents a 3.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Christopher B. Woenker sold 1,627 shares of the stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $186.04, for a total transaction of $302,687.08. Following the completion of the transaction, the chief financial officer owned 2,553 shares of the company’s stock, valued at $474,960.12. This trade represents a 38.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Dover

Several institutional investors have recently modified their holdings of the company. Mission Wealth Management LP grew its holdings in Dover by 0.8% during the third quarter. Mission Wealth Management LP now owns 7,493 shares of the industrial products company’s stock worth $1,250,000 after acquiring an additional 58 shares during the period. Brown Brothers Harriman & Co. boosted its position in shares of Dover by 4.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,513 shares of the industrial products company’s stock valued at $252,000 after purchasing an additional 59 shares in the last quarter. Harbour Investments Inc. grew its stake in shares of Dover by 51.7% in the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 60 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in shares of Dover by 0.9% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 6,911 shares of the industrial products company’s stock worth $1,266,000 after purchasing an additional 60 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its stake in Dover by 4.9% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,282 shares of the industrial products company’s stock valued at $235,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Company Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.