Deutsche Bank Raises Dover (NYSE:DOV) Price Target to $119.00

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.

Dover (NYSE:DOV) last posted its earnings results on Thursday, October 17th. The industrial products company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.51 by $0.09. Dover had a return on equity of 29.62% and a net margin of 9.08%. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the company posted $1.36 earnings per share. Dover’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Dover will post 5.85 earnings per share for the current fiscal year.

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.

About Dover

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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Analyst Recommendations for Dover (NYSE:DOV)

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