Dover (NYSE:DOV) Price Target Raised to $242.00 at Oppenheimer

Dover (NYSE:DOV) had its price target increased by Oppenheimer from $232.00 to $242.00 in a research report report published on Monday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the industrial products company’s stock.

DOV has been the topic of a number of other reports. Morgan Stanley set a $210.00 price target on shares of Dover in a research report on Wednesday, February 4th. Robert W. Baird set a $255.00 price target on shares of Dover in a research report on Friday, January 30th. Citigroup increased their price target on shares of Dover from $231.00 to $253.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Weiss Ratings upgraded shares of Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 6th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $224.00 price target on shares of Dover in a research report on Saturday, January 31st. Nine 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 $229.38.

Dover Stock Performance

Shares of NYSE:DOV opened at $222.02 on Monday. The company has a market capitalization of $29.93 billion, a price-to-earnings ratio of 27.96, a P/E/G ratio of 1.69 and a beta of 1.25. The firm’s 50 day simple moving average is $217.54 and its 200 day simple moving average is $199.82. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.79 and a quick ratio of 1.28. Dover has a fifty-two week low of $155.45 and a fifty-two week high of $237.54.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.09 billion. Dover had a net margin of 13.52% and a return on equity of 17.87%. Dover’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the company posted $2.20 EPS. As a group, sell-side analysts forecast that Dover will post 10.55 earnings per share for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, February 27th. Dover’s dividend payout ratio (DPR) is 26.20%.

Insiders Place Their Bets

In other Dover news, VP Girish Juneja sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $230.77, for a total transaction of $346,155.00. Following the sale, the vice president directly owned 8,422 shares in the company, valued at approximately $1,943,544.94. This trade represents a 15.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Ivonne M. Cabrera sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total transaction of $932,920.00. Following the sale, the senior vice president owned 72,188 shares in the company, valued at $16,836,407.24. This trade represents a 5.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 82,497 shares of company stock worth $19,196,277. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Dover

Several hedge funds have recently bought and sold shares of DOV. Brighton Jones LLC raised its holdings in Dover by 62.1% during the 4th quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock worth $552,000 after buying an additional 1,128 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Dover by 4.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,377 shares of the industrial products company’s stock valued at $2,526,000 after purchasing an additional 676 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Dover by 11.8% in the first quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company’s stock valued at $2,636,000 after purchasing an additional 1,580 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Dover in the second quarter valued at approximately $488,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Dover in the second quarter valued at approximately $1,030,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.