Dover (NYSE:DOV) Stock Rating Reaffirmed by Oppenheimer

Oppenheimer restated their outperform rating on shares of Dover (NYSE:DOV) in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has a $215.00 price objective on the industrial products company’s stock, up from their prior price objective of $210.00.

A number of other equities analysts have also commented on the stock. Wolfe Research raised shares of Dover to a “hold” rating in a report on Friday, September 20th. Robert W. Baird reissued an “outperform” rating and issued a $208.00 target price on shares of Dover in a research note on Monday, July 22nd. Royal Bank of Canada lifted their price target on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Barclays increased their price objective 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, Wells Fargo & Company raised their price objective on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $198.75.

Dover Trading Down 0.3 %

Dover stock opened at $194.38 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53. Dover has a fifty-two week low of $127.25 and a fifty-two week high of $195.68. The stock has a market cap of $26.71 billion, a P/E ratio of 18.67, a PEG ratio of 2.20 and a beta of 1.22. The firm’s fifty day moving average price is $185.58 and its 200-day moving average price is $181.73.

Dover (NYSE:DOV) last announced its earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.05 EPS. Equities research analysts forecast that Dover will post 9.18 earnings per share for the current fiscal year.

Dover Increases Dividend

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

Insider Transactions at Dover

In related news, CFO Brad M. Cerepak sold 14,818 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Brad M. Cerepak sold 4,341 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total transaction of $801,305.19. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the sale, the chief financial officer now owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,383 shares of company stock worth $8,169,883. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Dover

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its holdings in Dover by 153.7% in 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 purchasing an additional 1,595,611 shares in the last quarter. American Century Companies Inc. increased its position in shares of Dover by 162.2% during the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock valued at $124,195,000 after buying an additional 425,768 shares during the period. Wellington Management Group LLP raised its stake in Dover by 50.7% in the fourth quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock worth $189,433,000 after buying an additional 414,481 shares in the last quarter. Interval Partners LP lifted its holdings in Dover by 110.0% in the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock worth $105,216,000 after buying an additional 305,436 shares during the period. Finally, Kimelman & Baird LLC bought a new stake in Dover during the 2nd quarter valued at approximately $17,323,000. 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.