Wells Fargo & Company Increases Dover (NYSE:DOV) Price Target to $190.00

Dover (NYSE:DOV) had its price objective lifted by Wells Fargo & Company from $177.00 to $190.00 in a report published on Friday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the industrial products company’s stock.

Several other brokerages also recently commented on DOV. Seaport Res Ptn upgraded shares of Dover from a neutral rating to a buy rating in a report on Monday, February 5th. Royal Bank of Canada raised their price target on shares of Dover from $146.00 to $153.00 and gave the stock a sector perform rating in a research note on Friday, February 2nd. StockNews.com cut shares of Dover from a buy rating to a hold rating in a research note on Friday, March 22nd. Citigroup raised their price target on shares of Dover from $180.00 to $205.00 and gave the stock a buy rating in a research note on Monday, April 8th. Finally, Mizuho raised their price target on shares of Dover from $180.00 to $185.00 and gave the stock a buy rating in a research note on Friday. Three 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, Dover presently has an average rating of Moderate Buy and an average price target of $185.75.

Dover Stock Performance

Shares of DOV stock opened at $180.04 on Friday. 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 company has a market capitalization of $24.74 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 1.86 and a beta of 1.27. The company’s 50 day moving average price is $172.12 and its two-hundred day moving average price is $154.75. Dover has a 52 week low of $127.25 and a 52 week high of $181.49.

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 17.28% and a return on equity of 25.04%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the company posted $1.94 EPS. On average, analysts expect that Dover will post 9.1 earnings per share for the current fiscal year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.51 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $2.04 annualized dividend and a dividend yield of 1.13%. Dover’s dividend payout ratio is presently 19.60%.

Insider Activity at Dover

In related news, CFO Brad M. Cerepak sold 6,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Dover news, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction on 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 directly owns 22,955 shares of the company’s stock, valued at $3,929,666.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brad M. Cerepak sold 6,000 shares of Dover stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the transaction, the chief financial officer now directly owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,910 shares of company stock valued at $4,318,059. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dover

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in shares of Dover by 14.5% during the third quarter. CWM LLC now owns 2,089 shares of the industrial products company’s stock worth $291,000 after buying an additional 264 shares in the last quarter. CX Institutional lifted its holdings in shares of Dover by 5.4% during the third quarter. CX Institutional now owns 4,861 shares of the industrial products company’s stock worth $678,000 after buying an additional 251 shares in the last quarter. Czech National Bank lifted its holdings in shares of Dover by 47.7% during the third quarter. Czech National Bank now owns 24,447 shares of the industrial products company’s stock worth $3,411,000 after buying an additional 7,892 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Dover by 3.4% during the third quarter. Handelsbanken Fonder AB now owns 82,371 shares of the industrial products company’s stock worth $11,492,000 after buying an additional 2,706 shares in the last quarter. Finally, Connecticut Wealth Management LLC acquired a new stake in shares of Dover during the third quarter worth $330,000. 84.46% of the stock is 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.