Dover (NYSE:DOV) had its target price hoisted by equities research analysts at Deutsche Bank from $107.00 to $119.00 in a research note issued on Wednesday, BenzingaRatingsTable reports. The firm presently has a “hold” rating on the industrial products company’s stock. Deutsche Bank’s target price would indicate a potential upside of 9.14% from the stock’s previous close.
Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. upped their price objective on Dover from $82.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. ValuEngine raised Dover from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Barclays boosted their target price on Dover from $112.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Zacks Investment Research raised Dover from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Tuesday, October 22nd. Finally, Robert W. Baird increased their price target on shares of Dover from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $103.54.
Dover stock opened at $109.03 on Wednesday. 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 company has a fifty day simple moving average of $106.91 and a 200-day simple moving average of $98.44. The stock has a market cap of $16.19 billion, a P/E ratio of 21.94, a price-to-earnings-growth ratio of 1.66 and a beta of 1.51. Dover has a 12-month low of $65.83 and a 12-month high of $112.52.
In related news, SVP Ivonne M. Cabrera sold 4,055 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $112.48, for a total value of $456,106.40. Also, VP William Spurgeon sold 6,559 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $109.48, for a total value of $718,079.32. Following the transaction, the vice president now owns 5,296 shares in the company, valued at approximately $579,806.08. The disclosure for this sale can be found here. Insiders have sold 25,210 shares of company stock worth $2,712,287 in the last quarter. Insiders own 1.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of DOV. LLBH Private Wealth Management LLC acquired a new stake in Dover during the 2nd quarter worth approximately $65,000. Vanguard Group Inc. lifted its holdings in shares of Dover by 1.5% during 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 purchasing an additional 254,585 shares during the period. BlackRock Inc. grew its position in Dover by 3.1% in the 2nd quarter. BlackRock Inc. now owns 12,354,483 shares of the industrial products company’s stock valued at $1,237,921,000 after buying an additional 371,171 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Dover by 4.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,504,293 shares of the industrial products company’s stock valued at $838,012,000 after buying an additional 368,878 shares during the period. Finally, Boston Partners increased its stake in Dover by 0.7% in the 2nd quarter. Boston Partners now owns 7,696,715 shares of the industrial products company’s stock valued at $771,171,000 after buying an additional 54,431 shares during the period. Institutional investors own 87.48% of the company’s stock.
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.
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