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

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

Other analysts have also issued research reports about the stock. Royal Bank of Canada boosted their price target on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Seaport Res Ptn upgraded shares of Dover from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Wells Fargo & Company upped their target price on shares of Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday. Robert W. Baird upped their target price on shares of Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Citigroup upped their target price on shares of Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $185.75.

Dover Stock Up 0.6 %

DOV stock traded up $1.06 during midday trading on Friday, reaching $180.17. 1,104,009 shares of the company’s stock traded hands, compared to its average volume of 968,794. The company has a market cap of $24.75 billion, a price-to-earnings ratio of 23.96, a P/E/G ratio of 1.78 and a beta of 1.27. The firm’s fifty day moving average price is $171.75 and its 200-day moving average price is $154.29. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 0.59. Dover has a 52 week low of $127.25 and a 52 week high of $181.49.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.03 billion. Dover had a net margin of 12.52% and a return on equity of 25.95%. Dover’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.94 EPS. As a group, sell-side analysts forecast that Dover will post 9.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $163.01, for a total value of $3,001,014.10. Following the completion of the transaction, the chief financial officer now directly owns 23,909 shares in the company, valued at $3,897,406.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Stephen M. Todd sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the transaction, the director now owns 22,955 shares in the company, valued at $3,929,666.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the completion of the transaction, the chief financial officer now owns 23,909 shares in the company, valued at approximately $3,897,406.09. The disclosure for this sale can be found here. Insiders sold 25,910 shares of company stock worth $4,318,059 over the last quarter. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Dover

Several large investors have recently added to or reduced their stakes in the stock. BSW Wealth Partners boosted its holdings in Dover by 1.2% in the first quarter. BSW Wealth Partners now owns 4,930 shares of the industrial products company’s stock valued at $874,000 after acquiring an additional 59 shares in the last quarter. Summit Trail Advisors LLC boosted its holdings in Dover by 2.6% in the first quarter. Summit Trail Advisors LLC now owns 2,333 shares of the industrial products company’s stock valued at $413,000 after acquiring an additional 60 shares in the last quarter. Legacy Financial Advisors Inc. boosted its holdings in Dover by 1.7% in the fourth quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock valued at $577,000 after acquiring an additional 63 shares in the last quarter. CWM LLC boosted its holdings in Dover by 2.7% in the first quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock valued at $435,000 after acquiring an additional 65 shares in the last quarter. Finally, Wedmont Private Capital boosted its holdings in Dover by 4.0% in the first quarter. Wedmont Private Capital now owns 1,778 shares of the industrial products company’s stock valued at $315,000 after acquiring an additional 68 shares in the last quarter. Institutional investors 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.