Oppenheimer Increases Dover (NYSE:DOV) Price Target to $228.00

Dover (NYSE:DOV) had its price objective upped by stock analysts at Oppenheimer from $225.00 to $228.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price objective indicates a potential upside of 24.54% from the stock’s current price.

A number of other research firms also recently weighed in on DOV. Robert W. Baird set a $235.00 target price on shares of Dover in a research report on Friday, October 24th. Royal Bank Of Canada boosted their target price on Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a research note on Friday, October 24th. Weiss Ratings raised Dover from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, November 7th. Wells Fargo & Company upped their price objective on shares of Dover from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday, October 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and an average target price of $212.27.

Dover Stock Up 0.6%

DOV opened at $183.07 on Friday. Dover has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The firm has a market capitalization of $25.11 billion, a P/E ratio of 11.26, a PEG ratio of 1.40 and a beta of 1.29. The company’s 50-day moving average is $172.59 and its 200 day moving average is $177.81. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44.

Dover (NYSE:DOV) last posted its earnings results on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. The firm had revenue of $1.78 billion for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. Research analysts expect that Dover will post 9.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dover

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Dover by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company’s stock worth $3,036,722,000 after acquiring an additional 231,146 shares during the last quarter. State Street Corp lifted its stake in Dover by 2.7% in the second quarter. State Street Corp now owns 6,447,149 shares of the industrial products company’s stock worth $1,181,311,000 after purchasing an additional 171,934 shares during the last quarter. Geode Capital Management LLC boosted its position in Dover by 1.0% during the second quarter. Geode Capital Management LLC now owns 3,453,121 shares of the industrial products company’s stock valued at $629,996,000 after buying an additional 33,539 shares during the period. Nuveen LLC bought a new position in shares of Dover during the first quarter valued at about $526,081,000. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of Dover by 10.6% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,376,279 shares of the industrial products company’s stock worth $435,406,000 after buying an additional 227,653 shares during the period. Institutional investors own 84.46% of the company’s stock.

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.