Dover (NYSE:DOV) Earns “Outperform” Rating from Oppenheimer

Oppenheimer reissued their outperform rating on shares of Dover (NYSE:DOV) in a research note released 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.

Several other equities analysts also recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Barclays upped their price objective on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company upped their price objective on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Wolfe Research raised shares of Dover to a “hold” rating in a research note on Friday, September 20th. Finally, Robert W. Baird reissued an “outperform” rating and set a $208.00 price objective 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 company. According to MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and an average price target of $196.25.

Dover Stock Up 0.8 %

DOV stock opened at $192.79 on Wednesday. The company’s 50 day simple moving average is $184.85 and its 200-day simple moving average is $181.45. The firm has a market capitalization of $26.50 billion, a PE ratio of 18.52, a P/E/G ratio of 2.20 and a beta of 1.22. Dover has a 12 month low of $127.25 and a 12 month high of $194.75. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95.

Dover (NYSE:DOV) last released 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. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.05 earnings per share. Equities analysts expect that Dover will post 9.18 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid 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 1.07%. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio (DPR) is currently 19.79%.

Insiders Place Their Bets

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,156,700. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction on Friday, September 6th. The shares were 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 $2,156,700. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the sale, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at $8,706,100. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,383 shares of company stock valued at $8,169,883 over the last quarter. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Dover

Several large investors have recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. increased its position in shares of Dover by 5.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,213 shares of the industrial products company’s stock worth $215,000 after acquiring an additional 62 shares in the last quarter. Valmark Advisers Inc. grew its holdings in Dover by 1.6% during the 2nd quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock valued at $715,000 after purchasing an additional 63 shares in the last quarter. CWM LLC grew its holdings in Dover by 2.7% during the 1st 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 grew its holdings in Dover by 4.0% during the 1st quarter. Wedmont Private Capital now owns 1,778 shares of the industrial products company’s stock valued at $315,000 after purchasing an additional 68 shares in the last quarter. Finally, Mather Group LLC. grew its holdings in Dover by 2.3% during the 2nd quarter. Mather Group LLC. now owns 3,145 shares of the industrial products company’s stock valued at $557,000 after purchasing an additional 71 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

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.