Brokerages Set Dover Co. (NYSE:DOV) Price Target at $192.63

Dover Co. (NYSE:DOV) has been given a consensus rating of “Moderate Buy” by the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $194.00.

Several analysts have commented on DOV shares. Barclays lifted their price target on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday. Royal Bank of Canada lifted their price target on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Wells Fargo & Company increased their target price on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Monday. Robert W. Baird restated an “outperform” rating and set a $208.00 price target on shares of Dover in a research note on Monday, July 22nd. Finally, Wolfe Research upgraded Dover to a “hold” rating in a report on Friday, September 20th.

Dover Stock Performance

Shares of DOV stock opened at $190.27 on Monday. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The stock has a 50 day simple moving average of $182.99 and a 200-day simple moving average of $180.52. The company has a market cap of $26.15 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. Dover has a 12-month low of $127.25 and a 12-month high of $194.75.

Dover (NYSE:DOV) last released its earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. The company had revenue of $2.18 billion during 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%. Dover’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.05 earnings per share. On average, equities analysts forecast that Dover will post 9.17 EPS for the current year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $0.515 per share. The ex-dividend date was Friday, August 30th. This represents a $2.06 annualized dividend and a yield of 1.08%. This is a boost from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio is presently 19.79%.

Insider Buying and Selling

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the sale, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction that occurred 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 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction that occurred 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 owns 12,324 shares in the company, valued at approximately $2,274,887.16. 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 ninety days. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Cannon Financial Strategists Inc. acquired a new stake in shares of Dover during the second quarter worth approximately $279,000. Sanctuary Advisors LLC bought a new stake in shares of Dover during the second quarter valued at approximately $3,175,000. Chase Investment Counsel Corp lifted its holdings in 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 buying 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 $17,323,000. Finally, Ecofi Investissements SA acquired a new position in shares of Dover during the second quarter valued at $8,531,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.