Dover (NYSE:DOV) Price Target Raised to $200.00 at Mizuho

Dover (NYSE:DOV) had its price objective lifted by Mizuho from $185.00 to $200.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Other analysts have also issued reports about the company. Royal Bank of Canada boosted their price objective on Dover from $192.00 to $193.00 and gave the stock a sector perform rating in a report on Friday. Robert W. Baird reissued an outperform rating and set a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. Wells Fargo & Company boosted their target price on Dover from $177.00 to $190.00 and gave the stock an equal weight rating in a research note on Friday, April 26th. Barclays boosted their target price on Dover from $180.00 to $186.00 and gave the stock an equal weight rating in a research note on Friday, April 26th. Finally, Oppenheimer upped their price objective on Dover from $187.00 to $197.00 and gave the company an outperform rating in a research note on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Dover presently has an average rating of Moderate Buy and an average price target of $192.63.

Dover Stock Performance

Shares of Dover stock opened at $185.26 on Friday. Dover has a one year low of $127.25 and a one year high of $192.31. The firm has a market capitalization of $25.46 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 2.26 and a beta of 1.22. The business has a 50-day simple moving average of $181.49 and a 200 day simple moving average of $172.50. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.89.

Dover (NYSE:DOV) last issued its earnings results 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 business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. Dover had a return on equity of 25.36% and a net margin of 17.58%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.05 EPS. On average, research analysts anticipate that Dover will post 9.11 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.51 dividend. The ex-dividend date was Friday, May 31st. This represents a $2.04 dividend on an annualized basis and a yield of 1.10%. Dover’s dividend payout ratio is presently 19.60%.

Institutional Trading of Dover

Several institutional investors have recently added to or reduced their stakes in the business. BSW Wealth Partners boosted its position in Dover by 1.2% during the first quarter. BSW Wealth Partners now owns 4,930 shares of the industrial products company’s stock valued at $874,000 after buying an additional 59 shares during the period. Summit Trail Advisors LLC boosted its position in Dover by 2.6% during the first quarter. Summit Trail Advisors LLC now owns 2,333 shares of the industrial products company’s stock valued at $413,000 after buying an additional 60 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in Dover by 5.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,213 shares of the industrial products company’s stock valued at $215,000 after buying an additional 62 shares during the period. Legacy Financial Advisors Inc. boosted its position in Dover by 1.7% during the fourth quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock valued at $577,000 after buying an additional 63 shares during the period. Finally, CWM LLC boosted its position in 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 buying an additional 65 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

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.