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

Dover (NYSE:DOV) had its price objective upped by Mizuho from $185.00 to $200.00 in a report released on Friday morning, Benzinga reports. Mizuho currently has an outperform rating on the industrial products company’s stock.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company lifted their price target on Dover from $177.00 to $190.00 and gave the company an equal weight rating in a report on Friday, April 26th. Barclays lifted their price target on shares of Dover from $180.00 to $186.00 and gave the company an equal weight rating in a report on Friday, April 26th. Citigroup upped their price objective on Dover from $180.00 to $205.00 and gave the stock a buy rating in a report on Monday, April 8th. Robert W. Baird reiterated an outperform rating and issued a $208.00 target price on shares of Dover in a report on Monday, July 22nd. Finally, Oppenheimer upped their price target on Dover from $187.00 to $197.00 and gave the stock an outperform rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $192.63.

Dover Price Performance

Dover stock opened at $186.47 on Friday. The firm’s 50-day moving average is $181.51 and its two-hundred day moving average is $173.13. 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 stock has a market capitalization of $25.63 billion, a P/E ratio of 17.91, a P/E/G ratio of 2.24 and a beta of 1.22. Dover has a 12-month low of $127.25 and a 12-month high of $192.31.

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

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders 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 dividend yield of 1.09%. Dover’s dividend payout ratio (DPR) is currently 19.60%.

Hedge Funds Weigh In On Dover

Institutional investors and hedge funds have recently bought and sold shares of the stock. LRI Investments LLC acquired a new stake in Dover during the 1st quarter valued at $27,000. McClarren Financial Advisors Inc. increased its holdings in Dover by 4,400.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 176 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in shares of Dover by 783.3% during the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 188 shares during the last quarter. Life Planning Partners Inc bought a new stake in shares of Dover in the 4th quarter worth approximately $35,000. Finally, Northwest Financial Advisors acquired a new position in Dover during the 4th quarter valued at approximately $36,000. Hedge funds and other 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.