Dover (NYSE:DOV) Given New $193.00 Price Target at Royal Bank of Canada

Dover (NYSE:DOV) had its target price lifted by Royal Bank of Canada from $192.00 to $193.00 in a research report sent to investors on Friday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the industrial products company’s stock.

A number of other analysts also recently issued reports on DOV. Oppenheimer increased their target price 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. Citigroup raised their target price on Dover from $180.00 to $205.00 and gave the company a buy rating in a research note on Monday, April 8th. StockNews.com upgraded Dover from a hold rating to a buy rating in a research note on Friday, April 26th. Wells Fargo & Company increased their price objective on shares of Dover from $177.00 to $190.00 and gave the company an equal weight rating in a research note on Friday, April 26th. Finally, Barclays increased their price target on shares of Dover from $180.00 to $186.00 and gave the stock an equal weight rating in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $192.63.

Dover Trading Up 0.7 %

Shares of Dover stock opened at $186.47 on Friday. Dover has a fifty-two week low of $127.25 and a fifty-two week high of $192.31. The business’s fifty day moving average is $181.51 and its two-hundred day moving average is $173.13. 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 cap of $25.63 billion, a PE ratio of 17.91, a P/E/G ratio of 2.24 and a beta of 1.22.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the previous year, the business earned $2.05 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. Analysts anticipate that Dover will post 9.13 earnings per share for the current year.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a $0.51 dividend. The ex-dividend date was Friday, May 31st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.09%. Dover’s dividend payout ratio (DPR) is presently 19.60%.

Institutional Investors Weigh In On Dover

Several large investors have recently made changes to their positions in DOV. LRI Investments LLC bought a new stake in Dover during the 1st quarter valued at $27,000. McClarren Financial Advisors Inc. grew its position in Dover by 4,400.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after buying an additional 176 shares in the last quarter. AdvisorNet Financial Inc increased its stake in Dover by 783.3% during the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after buying an additional 188 shares during the period. Life Planning Partners Inc bought a new stake in shares of Dover during the 4th quarter worth about $35,000. Finally, Northwest Financial Advisors acquired a new stake in shares of Dover in the 4th quarter worth approximately $36,000. 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.