Mizuho Increases Dover (NYSE:DOV) Price Target to $220.00

Dover (NYSE:DOV) had its target price hoisted by Mizuho from $200.00 to $220.00 in a report released on Thursday morning, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada lifted their target price on 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 reissued an “outperform” rating and issued a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. Barclays raised their target price on shares of Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price target (up from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company raised their price objective on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $198.75.

Dover Stock Performance

Shares of DOV stock opened at $194.38 on Thursday. Dover has a 52 week low of $127.25 and a 52 week high of $195.68. The company has a market capitalization of $26.71 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 2.20 and a beta of 1.22. The company has a 50-day simple moving average of $185.58 and a 200 day simple moving average of $181.73. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53.

Dover (NYSE:DOV) last posted its earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.21 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.05 earnings per share. On average, sell-side analysts predict that Dover will post 9.18 earnings per share for the current year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.515 per share. The ex-dividend date was Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.06%. This is a boost from Dover’s previous quarterly dividend of $0.51. Dover’s payout ratio is 19.79%.

Insider Activity at Dover

In other news, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total value of $4,549,727.84. Following the completion of the transaction, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were 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 in the company, valued at approximately $2,274,887.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total value of $4,549,727.84. Following the sale, the chief executive officer now directly owns 182,928 shares in the company, valued at approximately $33,285,578.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,383 shares of company stock valued at $8,169,883 over the last ninety days. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dover

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in Dover by 50.7% during the 4th quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock worth $189,433,000 after buying an additional 414,481 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Dover during the fourth quarter worth $1,006,000. Nomura Holdings Inc. grew its stake in shares of Dover by 289.4% in the fourth quarter. Nomura Holdings Inc. now owns 9,483 shares of the industrial products company’s stock worth $1,459,000 after purchasing an additional 7,048 shares during the last quarter. CWM LLC increased its holdings in Dover by 2.7% in the first quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock valued at $435,000 after purchasing an additional 65 shares during the period. Finally, NBC Securities Inc. raised its position in Dover by 10.9% during the 1st quarter. NBC Securities Inc. now owns 3,888 shares of the industrial products company’s stock worth $688,000 after purchasing an additional 383 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

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.