Dover (NYSE:DOV) Rating Increased to Hold at Wolfe Research

Dover (NYSE:DOV) was upgraded by research analysts at Wolfe Research to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

A number of other equities research analysts have also recently commented on DOV. Robert W. Baird restated an “outperform” rating and issued a $208.00 price target on shares of Dover in a report on Monday, July 22nd. Royal Bank of Canada raised their target price on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Finally, Mizuho upped their price target on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $192.63.

Dover Stock Performance

DOV stock opened at $190.98 on Friday. The firm has a market cap of $26.25 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 2.17 and a beta of 1.22. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average price of $181.95 and a 200-day moving average price of $179.71. Dover has a 1-year low of $127.25 and a 1-year high of $192.31.

Dover (NYSE:DOV) last issued its earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.05 earnings per share. As a group, equities research analysts expect that Dover will post 9.17 earnings per share for the current year.

Insider Transactions at Dover

In related news, CFO Brad M. Cerepak sold 14,818 shares of Dover stock in a transaction on Friday, September 6th. The stock was sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the completion of the sale, the chief executive officer now owns 182,928 shares in the company, valued at approximately $33,285,578.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brad M. Cerepak sold 14,818 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the transaction, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. The disclosure for this sale can be found here. Insiders have sold 45,383 shares of company stock worth $8,169,883 in the last 90 days. Insiders own 1.30% of the company’s stock.

Institutional Trading of Dover

Hedge funds have recently made changes to their positions in the company. LRI Investments LLC bought a new stake in Dover in the 1st quarter valued at about $28,000. McClarren Financial Advisors Inc. lifted its stake 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 buying an additional 176 shares in the last quarter. Fairscale Capital LLC bought a new position in Dover in the 2nd quarter worth approximately $34,000. Ashton Thomas Private Wealth LLC purchased a new position in Dover in the 2nd quarter valued at approximately $41,000. Finally, Transcendent Capital Group LLC raised its holdings in Dover by 208.0% during the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 156 shares during the period. 84.46% of the stock is currently owned by institutional investors.

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.