Dover (NYSE:DOV – Get Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.
A number of other research firms have also recently weighed in on DOV. Citigroup raised their price target on Dover from $167.00 to $173.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Wells Fargo & Company increased their price target on Dover from $140.00 to $167.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 19th. Royal Bank of Canada increased their price target on Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a report on Friday. Oppenheimer increased their price target on Dover from $175.00 to $177.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Mizuho decreased their price target on Dover from $165.00 to $162.00 and set a “buy” rating for the company in a report on Wednesday, October 25th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $165.91.
Dover Price Performance
Shares of NYSE:DOV traded up $2.20 during midday trading on Friday, hitting $158.75. The company had a trading volume of 1,406,611 shares, compared to its average volume of 909,381. Dover has a twelve month low of $127.25 and a twelve month high of $159.98. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.58 and a quick ratio of 1.00. The stock has a market cap of $22.21 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 1.46 and a beta of 1.26. The business’s 50-day simple moving average is $148.62 and its 200-day simple moving average is $143.19.
Dover (NYSE:DOV – Get Free Report) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.44 by $0.01. Dover had a return on equity of 26.23% and a net margin of 12.09%. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the business posted $2.16 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. On average, research analysts predict that Dover will post 8.78 earnings per share for the current year.
Insider Activity
In other news, CFO Brad M. Cerepak sold 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $142.00, for a total value of $1,988,000.00. Following the sale, the chief financial officer now directly owns 35,938 shares in the company, valued at approximately $5,103,196. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Anthony K. Kosinski sold 664 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $141.64, for a total transaction of $94,048.96. Following the sale, the vice president now owns 5,333 shares in the company, valued at $755,366.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brad M. Cerepak sold 14,000 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $142.00, for a total value of $1,988,000.00. Following the sale, the chief financial officer now owns 35,938 shares in the company, valued at approximately $5,103,196. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
Institutional Trading of Dover
Several large investors have recently made changes to their positions in DOV. Fairfield Bush & CO. bought a new position in Dover in the first quarter valued at about $48,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Dover in the first quarter valued at about $938,000. Raymond James Trust N.A. boosted its holdings in Dover by 5.8% in the first quarter. Raymond James Trust N.A. now owns 5,645 shares of the industrial products company’s stock valued at $886,000 after acquiring an additional 310 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in Dover by 6.5% in the first quarter. Vontobel Holding Ltd. now owns 9,126 shares of the industrial products company’s stock valued at $1,465,000 after acquiring an additional 561 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Dover by 6.1% in the first quarter. Sei Investments Co. now owns 140,560 shares of the industrial products company’s stock valued at $22,055,000 after acquiring an additional 8,054 shares during the last quarter. Institutional investors own 83.97% 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 aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.