Dover (NYSE:DOV) Upgraded to Outperform at Wolfe Research

Dover (NYSE:DOV) was upgraded by equities research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a note issued to investors on Monday, Briefing.com reports. The firm currently has a $227.00 price target on the industrial products company’s stock. Wolfe Research’s price target indicates a potential upside of 21.40% from the company’s current price.

Several other brokerages have also recently issued reports on DOV. Mizuho lifted their price target on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 target price (up from $210.00) on shares of Dover in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on shares of Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a report on Friday. Royal Bank of Canada boosted their target price on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Finally, Robert W. Baird restated an “outperform” rating and set a $208.00 target price on shares of Dover in a report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.44.

Dover Stock Up 1.2 %

Shares of Dover stock opened at $186.98 on Monday. 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 has a 1-year low of $127.25 and a 1-year high of $195.68. The business’s fifty day moving average price is $186.80 and its two-hundred day moving average price is $182.28. The company has a market capitalization of $25.70 billion, a P/E ratio of 17.96, a PEG ratio of 2.20 and a beta of 1.22.

Dover (NYSE:DOV) last released its 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. Dover had a net margin of 17.58% and a return on equity of 24.94%. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter last year, the company earned $2.05 EPS. Dover’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, research analysts forecast that Dover will post 9.18 EPS for the current year.

Insider Transactions at Dover

In other news, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total value of $801,305.19. Following the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at approximately $2,274,887.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction that occurred on 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 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brad M. Cerepak sold 4,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 approximately $2,274,887.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 Inflows and Outflows

Several hedge funds have recently modified their holdings of DOV. LRI Investments LLC acquired a new position in Dover during the first quarter worth $27,000. McClarren Financial Advisors Inc. increased its holdings in shares of Dover by 4,400.0% during 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 during the last quarter. Fairscale Capital LLC bought a new position in shares of Dover in the 2nd quarter valued at approximately $34,000. Transcendent Capital Group LLC lifted its holdings in Dover by 208.0% in 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 during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Dover during the second quarter worth approximately $41,000. 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.