Oppenheimer Raises Dover (NYSE:DOV) Price Target to $197.00

Dover (NYSE:DOV) had its target price upped by equities research analysts at Oppenheimer from $187.00 to $197.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price objective would suggest a potential upside of 8.68% from the company’s current price.

Several other research firms also recently issued reports on DOV. Robert W. Baird boosted their price objective on shares of Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday. Wells Fargo & Company boosted their price objective on shares of Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday. Citigroup boosted their price objective on shares of Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Mizuho boosted their price objective on shares of Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday. Finally, 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 report on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $185.75.

Dover Stock Performance

DOV traded up $2.15 during trading on Friday, hitting $181.26. The stock had a trading volume of 437,596 shares, compared to its average volume of 960,314. The firm has a market cap of $24.90 billion, a PE ratio of 24.07, a P/E/G ratio of 1.78 and a beta of 1.27. Dover has a 12 month low of $127.25 and a 12 month high of $181.49. 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 50 day simple moving average of $171.37 and a 200-day simple moving average of $154.02.

Dover (NYSE:DOV) last announced its earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.88 by $0.07. The firm 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 business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm posted $1.94 EPS. Analysts expect that Dover will post 9.07 EPS for the current year.

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the business’s 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 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 document filed with the SEC, which is available through this link. In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the business’s 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 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 document filed with the SEC, which is available through this link. Also, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were 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 owns 22,955 shares in the company, 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 worth $4,318,059 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Dover

A number of large investors have recently modified their holdings of the stock. Vontobel Holding Ltd. raised its stake in shares of Dover by 7.2% during the fourth quarter. Vontobel Holding Ltd. now owns 25,421 shares of the industrial products company’s stock worth $3,910,000 after buying an additional 1,718 shares during the last quarter. Nordea Investment Management AB increased its stake in Dover by 5.5% in the fourth quarter. Nordea Investment Management AB now owns 557,953 shares of the industrial products company’s stock valued at $85,612,000 after purchasing an additional 29,096 shares in the last quarter. Vest Financial LLC increased its position in shares of Dover by 35.7% during the fourth quarter. Vest Financial LLC now owns 202,490 shares of the industrial products company’s stock worth $31,145,000 after acquiring an additional 53,273 shares in the last quarter. Chartwell Investment Partners LLC increased its position in shares of Dover by 15.6% during the third quarter. Chartwell Investment Partners LLC now owns 6,733 shares of the industrial products company’s stock worth $939,000 after acquiring an additional 907 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Dover by 112.9% during the fourth quarter. SG Americas Securities LLC now owns 11,409 shares of the industrial products company’s stock worth $1,755,000 after acquiring an additional 6,050 shares in the last quarter. 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.