Brokerages Set Dover Co. (NYSE:DOV) PT at $185.75

Dover Co. (NYSE:DOV) has received an average rating of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $185.75.

A number of research firms have recently issued reports on DOV. Robert W. Baird upped their price target on Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Mizuho upped their target price on Dover from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday, April 26th. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Citigroup upped their price objective 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, Oppenheimer raised their price objective on shares of Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th.

Insider Buying and Selling

In other Dover news, Director Stephen M. Todd sold 1,500 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $171.19, for a total transaction of $256,785.00. Following the transaction, the director now directly owns 22,955 shares in the company, valued at $3,929,666.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of Dover 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 transaction, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $171.19, for a total transaction of $256,785.00. Following the sale, the director now directly owns 22,955 shares in the company, valued at approximately $3,929,666.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,910 shares of company stock valued at $4,318,059. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Dover

Several large investors have recently added to or reduced their stakes in DOV. Commonwealth Equity Services LLC raised its stake in shares of Dover by 3.3% in the third quarter. Commonwealth Equity Services LLC now owns 27,530 shares of the industrial products company’s stock valued at $3,841,000 after acquiring an additional 878 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Dover by 7.3% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 14,992 shares of the industrial products company’s stock valued at $2,091,000 after buying an additional 1,014 shares during the period. Xponance Inc. grew its position in shares of Dover by 2.5% during the third quarter. Xponance Inc. now owns 18,349 shares of the industrial products company’s stock worth $2,560,000 after buying an additional 443 shares in the last quarter. Forsta AP Fonden increased its stake in shares of Dover by 8.6% during the third quarter. Forsta AP Fonden now owns 27,700 shares of the industrial products company’s stock worth $3,864,000 after buying an additional 2,200 shares during the period. Finally, Two Point Capital Management Inc. raised its holdings in Dover by 1.1% in the third quarter. Two Point Capital Management Inc. now owns 38,678 shares of the industrial products company’s stock valued at $5,396,000 after acquiring an additional 408 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Up 0.7 %

Shares of DOV opened at $184.95 on Friday. Dover has a one year low of $127.25 and a one year high of $185.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.89 and a current ratio of 1.31. The stock has a 50 day moving average price of $174.91 and a 200 day moving average price of $156.91. The stock has a market capitalization of $25.42 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.84 and a beta of 1.25.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.04%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm posted $1.94 earnings per share. The company’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts forecast that Dover will post 9.1 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.51 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $2.04 annualized dividend and a dividend yield of 1.10%. Dover’s dividend payout ratio is currently 19.60%.

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.