Dover (NYSE:DOV) Rating Reiterated by Oppenheimer

Dover (NYSE:DOV)‘s stock had its “outperform” rating reissued by investment analysts at Oppenheimer in a note issued to investors on Wednesday, Benzinga reports. They currently have a $215.00 price target on the industrial products company’s stock, up from their prior price target of $210.00. Oppenheimer’s target price would indicate a potential upside of 10.28% from the stock’s current price.

Several other research firms also recently weighed in on DOV. Wells Fargo & Company increased their price target on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Royal Bank of Canada raised their target price 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. Wolfe Research raised shares of Dover to a “hold” rating in a research note on Friday, September 20th. Barclays boosted their target price on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Mizuho increased their price target on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $198.75.

Dover Stock Performance

Shares of NYSE:DOV opened at $194.95 on Wednesday. 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 company has a market cap of $26.79 billion, a price-to-earnings ratio of 18.73, 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. The company has a 50-day moving average price of $185.22 and a 200-day moving average price of $181.54.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. Dover had a net margin of 17.58% and a return on equity of 24.94%. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the previous year, the firm earned $2.05 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts anticipate that Dover will post 9.18 EPS for the current year.

Insider Buying and Selling

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the transaction, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at $33,285,578.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Dover news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction dated Wednesday, August 21st. The stock was 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 directly owns 182,928 shares of the company’s stock, valued at $33,285,578.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total transaction of $801,305.19. Following the sale, the chief financial officer now owns 12,324 shares in the company, valued at $2,274,887.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,383 shares of company stock worth $8,169,883. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DOV. Price T Rowe Associates Inc. MD raised its stake in shares of Dover by 153.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after buying an additional 1,595,611 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Dover by 162.2% during the 2nd quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock worth $124,195,000 after purchasing an additional 425,768 shares during the period. Wellington Management Group LLP raised its stake in shares of Dover by 50.7% in the 4th quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock valued at $189,433,000 after acquiring an additional 414,481 shares during the period. Interval Partners LP lifted its position in Dover by 110.0% during the 2nd quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock worth $105,216,000 after acquiring an additional 305,436 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new position in shares of Dover in the second quarter valued at $17,323,000. Institutional investors and hedge funds 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.