Dover (NYSE:DOV) Upgraded by StockNews.com to Buy Rating

Dover (NYSE:DOV) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

Several other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Mizuho lifted their price objective on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a report on Monday, October 28th. Oppenheimer reissued an “outperform” rating and set a $215.00 price target (up previously from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company boosted their price target on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and a consensus target price of $207.44.

Dover Stock Performance

DOV stock traded down $2.22 during trading on Tuesday, hitting $202.36. The company had a trading volume of 501,397 shares, compared to its average volume of 970,649. The firm has a market cap of $27.76 billion, a PE ratio of 18.10, a price-to-earnings-growth ratio of 2.71 and a beta of 1.22. Dover has a 1-year low of $130.75 and a 1-year high of $204.93. The firm has a 50-day moving average price of $189.48 and a 200-day moving average price of $184.11. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53.

Insider Transactions at Dover

In other news, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the transaction, the chief executive officer now directly owns 182,928 shares in the company, valued at $33,285,578.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction dated Friday, September 6th. The stock was 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 in the company, valued at approximately $2,156,700. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total value of $4,549,727.84. Following the completion of the sale, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,042 shares of company stock worth $7,368,578 in the last ninety days. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Dover

A number of large investors have recently modified their holdings of DOV. Price T Rowe Associates Inc. MD grew its stake in shares of Dover by 153.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock valued at $466,622,000 after buying an additional 1,595,611 shares in the last quarter. American Century Companies Inc. grew its stake in Dover by 162.2% during the 2nd quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock valued at $124,195,000 after purchasing an additional 425,768 shares in the last quarter. Interval Partners LP grew its stake in Dover by 110.0% during the 2nd quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock valued at $105,216,000 after purchasing an additional 305,436 shares in the last quarter. Kimelman & Baird LLC acquired a new stake in Dover during the 2nd quarter valued at approximately $17,323,000. Finally, Earnest Partners LLC grew its stake in Dover by 31.5% during the 1st quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock valued at $70,370,000 after purchasing an additional 95,056 shares in the last quarter. Institutional investors and hedge funds 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.