Barclays Increases Dover (NYSE:DOV) Price Target to $190.00

Dover (NYSE:DOV - Free Report) had its target price increased by Barclays from $186.00 to $190.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company's stock.

DOV has been the topic of several other reports. Royal Bank of Canada raised their price target on Dover from $192.00 to $193.00 and gave the stock a sector perform rating in a research report on Friday, July 26th. Mizuho raised their target price on Dover from $185.00 to $200.00 and gave the stock an outperform rating in a report on Friday, July 26th. Wolfe Research raised Dover to a hold rating in a research note on Friday, September 20th. Wells Fargo & Company lifted their price objective on shares of Dover from $190.00 to $197.00 and gave the stock an equal weight rating in a research note on Monday. Finally, Robert W. Baird reaffirmed an outperform rating and issued a $208.00 target price on shares of Dover in a research note on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $194.00.

Dover Price Performance

Shares of DOV traded down $0.14 on Wednesday, hitting $190.27. The company's stock had a trading volume of 1,031,566 shares, compared to its average volume of 972,356. Dover has a fifty-two week low of $127.25 and a fifty-two week high of $194.75. The company has a market capitalization of $26.15 billion, a PE ratio of 18.28, a PEG ratio of 2.27 and a beta of 1.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. The company has a 50 day moving average price of $182.99 and a 200 day moving average price of $180.52.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, beating analysts' consensus estimates of $2.21 by $0.15. The firm 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 business's quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company earned $2.05 EPS. On average, research analysts anticipate that Dover will post 9.17 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.515 per share. The ex-dividend date was Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.08%. This is a boost from Dover's previous quarterly dividend of $0.51. Dover's dividend payout ratio (DPR) is presently 19.79%.

Insider Activity

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the firm's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total value 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 approximately $33,285,578.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Ivonne M. Cabrera sold 1,220 shares of Dover 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 completion of the transaction, the senior vice president now directly owns 47,060 shares of the company's stock, valued at approximately $8,706,100. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction on Wednesday, August 21st. The stock was 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 in the company, valued at $33,285,578.88. The disclosure for this sale can be found here. Insiders have sold 45,383 shares of company stock valued at $8,169,883 over the last ninety days. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Dover

Several institutional investors have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. boosted its position in shares of Dover by 5.4% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,213 shares of the industrial products company's stock valued at $215,000 after acquiring an additional 62 shares during the last quarter. Valmark Advisers Inc. lifted its holdings in Dover by 1.6% in the second quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company's stock worth $715,000 after buying an additional 63 shares during the period. CWM LLC boosted its position in shares of Dover by 2.7% during the first quarter. CWM LLC now owns 2,456 shares of the industrial products company's stock valued at $435,000 after purchasing an additional 65 shares in the last quarter. Wedmont Private Capital increased its stake in shares of Dover by 4.0% in the 1st quarter. Wedmont Private Capital now owns 1,778 shares of the industrial products company's stock worth $315,000 after acquiring an additional 68 shares in the last quarter. Finally, Mather Group LLC. boosted its position in shares of Dover by 2.3% in the 2nd quarter. Mather Group LLC. now owns 3,145 shares of the industrial products company's stock worth $557,000 after purchasing an additional 71 shares in the last quarter. 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.