Wells Fargo & Company Increases Dover (NYSE:DOV) Price Target to $197.00

Dover (NYSE:DOV) had its price objective raised by research analysts at Wells Fargo & Company from $190.00 to $197.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 3.43% from the company’s current price.

A number of other brokerages have also recently commented on DOV. Mizuho increased their price target on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Royal Bank of Canada lifted their target price on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Robert W. Baird restated an “outperform” rating and issued a $208.00 price target on shares of Dover in a research report on Monday, July 22nd. Finally, Wolfe Research upgraded shares of Dover to a “hold” rating in a report on Friday, September 20th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $193.50.

Dover Trading Down 0.7 %

Shares of Dover stock opened at $190.46 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $26.17 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.27 and a beta of 1.22. The firm’s 50-day moving average price is $182.71 and its two-hundred day moving average price is $180.45. Dover has a 12-month low of $127.25 and a 12-month high of $194.75.

Dover (NYSE:DOV) last issued its earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share 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 the consensus estimate of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.05 EPS. On average, analysts forecast that Dover will post 9.17 earnings per share for the current fiscal year.

Insider Transactions at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the transaction, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at $8,706,100. The sale 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 on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the sale, the senior vice president now owns 47,060 shares in the company, valued at approximately $8,706,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brad M. Cerepak sold 4,341 shares of the stock in a transaction on 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 directly owns 12,324 shares in the company, valued at $2,274,887.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,383 shares of company stock valued at $8,169,883. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Dover

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new position in Dover during the first quarter worth $27,000. McClarren Financial Advisors Inc. lifted its position in Dover by 4,400.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 176 shares in the last quarter. Fairscale Capital LLC bought a new position in Dover in the 2nd quarter valued at about $34,000. Transcendent Capital Group LLC increased its holdings in Dover by 208.0% during the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 156 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Dover in the second quarter worth approximately $41,000. 84.46% of the stock is owned by 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.