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

Dover (NYSE:DOV) had its price objective raised by analysts at Mizuho from $180.00 to $185.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Mizuho’s target price would suggest a potential upside of 3.31% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Robert W. Baird lifted their price objective on Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday. Barclays boosted their target price on shares of Dover from $163.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Seaport Res Ptn raised Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Citigroup increased their price target on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, Royal Bank of Canada lifted their target price on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.88.

Dover Price Performance

NYSE DOV opened at $179.07 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59. The company has a market cap of $24.60 billion, a PE ratio of 23.81, a PEG ratio of 1.78 and a beta of 1.27. Dover has a 1 year low of $127.25 and a 1 year high of $181.49. The stock’s 50-day moving average price is $171.37 and its two-hundred day moving average price is $154.02.

Dover (NYSE:DOV) last announced its earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.07. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.03 billion. Dover had a net margin of 12.52% and a return on equity of 25.95%. The company’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the business earned $1.94 EPS. On average, analysts predict that Dover will post 9.07 EPS for the current year.

Insider Buying and Selling at Dover

In other news, CFO Brad M. Cerepak sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the completion of the transaction, the chief financial officer now directly owns 17,909 shares in the company, valued at approximately $3,164,699.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of Dover stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the transaction, the chief financial officer now directly owns 17,909 shares in the company, valued at $3,164,699.39. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction dated 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 owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,910 shares of company stock valued at $4,318,059. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DOV. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Dover by 1.0% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 57,662 shares of the industrial products company’s stock valued at $10,217,000 after purchasing an additional 547 shares during the period. Freedom Day Solutions LLC acquired a new stake in Dover in the 1st quarter valued at approximately $229,000. Cambridge Investment Research Advisors Inc. lifted its stake in Dover by 10.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,311 shares of the industrial products company’s stock valued at $2,890,000 after acquiring an additional 1,570 shares in the last quarter. Smith Anglin Financial LLC bought a new position in shares of Dover during the 1st quarter worth approximately $226,000. Finally, Simplicity Wealth LLC acquired a new stake in shares of Dover in the first quarter valued at approximately $668,000. Institutional investors own 84.46% of the company’s stock.

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.