Wells Fargo & Company Boosts Dover (NYSE:DOV) Price Target to $197.00

Dover (NYSE:DOV) had its price objective upped by equities researchers at Wells Fargo & Company from $190.00 to $197.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 2.76% from the company’s current price.

Several other research analysts have also weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 price target on shares of Dover in a report on Monday, July 22nd. Wolfe Research raised Dover to a “hold” rating in a report on Friday, September 20th. Finally, Mizuho raised their target price on shares of Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $193.50.

Dover Trading Down 0.6 %

NYSE DOV traded down $1.07 during trading hours on Monday, hitting $191.71. 66,364 shares of the company’s stock were exchanged, compared to its average volume of 971,719. Dover has a 12-month low of $127.25 and a 12-month high of $194.75. The business’s 50 day moving average is $182.29 and its 200-day moving average is $180.23. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53. The firm has a market capitalization of $26.35 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. Dover’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the business earned $2.05 EPS. As a group, analysts anticipate that Dover will post 9.17 EPS for the current fiscal year.

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total transaction of $801,305.19. Following the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,274,887.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total transaction of $801,305.19. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the sale, the senior vice president now directly owns 47,060 shares in the company, valued at approximately $8,706,100. The disclosure for this sale can be found here. Insiders have sold 45,383 shares of company stock worth $8,169,883 over the last three months. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Dover

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cannon Financial Strategists Inc. bought a new stake in Dover during the second quarter worth about $279,000. Sanctuary Advisors LLC acquired a new position in shares of Dover during the 2nd quarter worth approximately $3,175,000. Chase Investment Counsel Corp raised its stake in shares of Dover by 23.5% during the 2nd quarter. Chase Investment Counsel Corp now owns 1,575 shares of the industrial products company’s stock worth $284,000 after purchasing an additional 300 shares in the last quarter. Kimelman & Baird LLC acquired a new stake in shares of Dover in the 2nd quarter valued at approximately $17,323,000. Finally, Ecofi Investissements SA bought a new stake in Dover during the second quarter worth $8,531,000. 84.46% of the stock is owned by institutional investors.

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.