Dover (NYSE:DOV) had its price objective upped by equities researchers at Morgan Stanley from $114.00 to $115.00 in a note issued to investors on Tuesday, BenzingaRatingsTable reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s price objective would suggest a potential downside of 2.82% from the company’s previous close.
DOV has been the subject of several other reports. Royal Bank of Canada set a $96.00 target price on Dover and gave the company a “hold” rating in a report on Friday, October 18th. Barclays upped their target price on Dover from $112.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, October 18th. ValuEngine lowered Dover from a “hold” rating to a “sell” rating in a report on Saturday, January 4th. Citigroup upped their target price on Dover from $115.00 to $132.00 and gave the company a “buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. increased their price objective on Dover from $82.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Dover currently has an average rating of “Hold” and a consensus price target of $109.11.
Shares of DOV stock traded up $0.73 during trading on Tuesday, hitting $118.34. The company’s stock had a trading volume of 182,590 shares, compared to its average volume of 589,125. The company has a market cap of $17.01 billion, a PE ratio of 23.81, a P/E/G ratio of 1.62 and a beta of 1.50. The company has a current ratio of 1.42, a quick ratio of 0.97 and a debt-to-equity ratio of 0.96. The business has a fifty day moving average of $114.29 and a 200-day moving average of $102.79. Dover has a 52 week low of $77.41 and a 52 week high of $118.33.
Dover (NYSE:DOV) last released its earnings results on Thursday, October 17th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.09. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.81 billion. Dover had a return on equity of 29.62% and a net margin of 9.08%. Dover’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.36 earnings per share. As a group, research analysts predict that Dover will post 5.85 EPS for the current year.
In other Dover news, Director Kristiane C. Graham sold 13,596 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $105.07, for a total transaction of $1,428,531.72. Following the completion of the transaction, the director now directly owns 356,704 shares of the company’s stock, valued at $37,478,889.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kristiane C. Graham sold 1,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $109.57, for a total value of $109,570.00. Following the transaction, the director now directly owns 356,704 shares of the company’s stock, valued at $39,084,057.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,210 shares of company stock valued at $2,712,287. 1.70% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in DOV. Vanguard Group Inc. raised its position in shares of Dover by 1.5% in the second quarter. Vanguard Group Inc. now owns 17,343,884 shares of the industrial products company’s stock worth $1,737,857,000 after buying an additional 254,585 shares in the last quarter. BlackRock Inc. raised its position in shares of Dover by 3.1% in the second quarter. BlackRock Inc. now owns 12,354,483 shares of the industrial products company’s stock worth $1,237,921,000 after buying an additional 371,171 shares in the last quarter. Boston Partners raised its position in shares of Dover by 0.7% in the second quarter. Boston Partners now owns 7,696,715 shares of the industrial products company’s stock worth $771,171,000 after buying an additional 54,431 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Dover by 50,089.3% in the second quarter. Nuveen Asset Management LLC now owns 1,981,474 shares of the industrial products company’s stock worth $198,544,000 after buying an additional 1,977,526 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Dover by 9.9% in the second quarter. Invesco Ltd. now owns 1,120,297 shares of the industrial products company’s stock worth $112,254,000 after buying an additional 101,342 shares in the last quarter. 86.89% of the stock is owned by institutional investors and hedge funds.
Dover Company Profile
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
Further Reading: Neutral Rating
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