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

Dover (NYSE:DOV) had its price target lifted by equities research analysts at Barclays from $180.00 to $186.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s target price would indicate a potential upside of 3.64% from the stock’s current price.

Other analysts have also issued reports about the company. Citigroup lifted their price objective on Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Mizuho boosted their target price on Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday. Oppenheimer boosted their target price on Dover from $177.00 to $187.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Robert W. Baird boosted their target price on Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, StockNews.com lowered Dover from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $181.63.

Dover Price Performance

Shares of NYSE DOV traded up $0.36 during midday trading on Friday, reaching $179.47. 88,136 shares of the company traded hands, compared to its average volume of 955,737. The firm has a market cap of $24.66 billion, a PE ratio of 23.86, a PEG ratio of 1.78 and a beta of 1.27. The stock’s 50-day simple moving average is $171.37 and its 200-day simple moving average is $154.02. Dover has a 12 month low of $127.25 and a 12 month high of $181.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 1.40.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. Dover had a return on equity of 25.95% and a net margin of 12.52%. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the business posted $1.94 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, equities analysts anticipate that Dover will post 9.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Stephen M. Todd sold 1,500 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the transaction, the director now directly owns 22,955 shares in the company, valued at $3,929,666.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $171.19, for a total transaction of $256,785.00. Following the completion of the transaction, the director now directly owns 22,955 shares of the company’s stock, valued at approximately $3,929,666.45. The disclosure for this sale can be found here. Insiders have sold 25,910 shares of company stock worth $4,318,059 in the last 90 days. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Dover

Several large investors have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Dover during the 4th quarter worth $175,275,000. Adage Capital Partners GP L.L.C. raised its stake in shares of Dover by 160.2% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock worth $199,319,000 after purchasing an additional 879,533 shares during the period. Wellington Management Group LLP raised its stake in shares of Dover by 2,173.8% during the 3rd quarter. Wellington Management Group LLP now owns 817,125 shares of the industrial products company’s stock worth $113,997,000 after purchasing an additional 781,189 shares during the period. Franklin Resources Inc. raised its stake in shares of 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 purchasing an additional 492,577 shares during the period. Finally, FMR LLC raised its stake in shares of Dover by 10.5% during the 3rd 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 period. Institutional investors and hedge funds 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.