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

Dover (NYSE:DOV) had its target price lifted by Mizuho from $200.00 to $220.00 in a research note published on Thursday morning, Benzinga reports. Mizuho currently has an outperform rating on the industrial products company’s stock.

Several other research firms have also weighed in on DOV. Wells Fargo & Company increased their target price on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Royal Bank of Canada lifted their price objective on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Wolfe Research raised shares of Dover to a “hold” rating in a research note on Friday, September 20th. Oppenheimer reissued an “outperform” rating and set a $215.00 price target (up from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Finally, Robert W. Baird restated an “outperform” rating and issued a $208.00 price objective on shares of Dover in a research report on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and seven have given 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 price target of $198.75.

Dover Trading Down 0.3 %

Shares of DOV opened at $194.38 on Thursday. The stock’s fifty day simple moving average is $185.58 and its 200-day simple moving average is $181.73. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $26.71 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 2.20 and a beta of 1.22. Dover has a 12-month low of $127.25 and a 12-month high of $195.68.

Dover (NYSE:DOV) last issued its earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (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 analyst estimates of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.05 EPS. As a group, research analysts predict that Dover will post 9.18 earnings per share for the current year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $0.515 dividend. This is an increase from Dover’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.06%. Dover’s dividend payout ratio (DPR) is currently 19.79%.

Insider Transactions at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the sale, the senior vice president now owns 47,060 shares in the company, valued at approximately $8,706,100. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Brad M. Cerepak sold 4,341 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the completion of the transaction, the chief financial officer now owns 12,324 shares in the company, valued at $2,274,887.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the sale, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,383 shares of company stock valued at $8,169,883 over the last three months. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Dover

A number of institutional investors and hedge funds have recently made changes to their positions in DOV. LRI Investments LLC acquired a new position in Dover during the first quarter worth $27,000. McClarren Financial Advisors Inc. increased its stake in shares of Dover by 4,400.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 176 shares during the last quarter. Fairscale Capital LLC bought a new stake in shares of Dover in the 2nd quarter valued at about $34,000. Transcendent Capital Group LLC grew its holdings in Dover by 208.0% during the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 156 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Dover during the second quarter worth approximately $41,000. Institutional investors own 84.46% of the company’s stock.

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.