Oppenheimer Boosts Dover (NYSE:DOV) Price Target to $228.00

Dover (NYSE:DOV) had its price objective boosted by equities research analysts at Oppenheimer from $225.00 to $228.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s target price indicates a potential upside of 24.44% from the stock’s current price.

DOV has been the topic of a number of other research reports. Royal Bank Of Canada increased their target price on Dover from $183.00 to $198.00 and gave the stock a “sector perform” rating in a report on Friday, October 24th. Morgan Stanley lifted their price objective on shares of Dover from $185.00 to $195.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. JPMorgan Chase & Co. raised their price target on shares of Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. UBS Group set a $200.00 price objective on shares of Dover in a research report on Friday, October 24th. Finally, Barclays raised their target price on shares of Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a report on Friday, October 24th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and an average target price of $212.27.

Dover Stock Up 0.7%

Shares of DOV traded up $1.25 during mid-day trading on Friday, reaching $183.22. 307,336 shares of the stock traded hands, compared to its average volume of 1,073,069. Dover has a 12-month low of $143.04 and a 12-month high of $222.31. The firm has a market cap of $25.13 billion, a price-to-earnings ratio of 11.28, a P/E/G ratio of 1.40 and a beta of 1.29. The company has a quick ratio of 1.44, a current ratio of 2.04 and a debt-to-equity ratio of 0.35. The stock has a fifty day simple moving average of $172.48 and a 200 day simple moving average of $177.66.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. The company had revenue of $1.78 billion during the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. Sell-side analysts expect that Dover will post 9.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DOV. Vanguard Group Inc. raised its stake in shares of Dover by 1.4% during the second quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company’s stock valued at $3,036,722,000 after purchasing an additional 231,146 shares in the last quarter. State Street Corp increased its stake in Dover by 2.7% during the 2nd quarter. State Street Corp now owns 6,447,149 shares of the industrial products company’s stock valued at $1,181,311,000 after buying an additional 171,934 shares during the period. Geode Capital Management LLC raised its position in shares of Dover by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 3,453,121 shares of the industrial products company’s stock worth $629,996,000 after buying an additional 33,539 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Dover in the 1st quarter worth approximately $526,081,000. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in shares of Dover by 10.6% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,376,279 shares of the industrial products company’s stock valued at $435,406,000 after acquiring an additional 227,653 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.