Wolfe Research Upgrades Dover (NYSE:DOV) to “Outperform”

Dover (NYSE:DOV) was upgraded by investment analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued on Monday, Marketbeat.com reports. The brokerage presently has a $227.00 price objective on the industrial products company’s stock. Wolfe Research’s price target suggests a potential upside of 18.33% from the company’s previous close.

Several other research firms have also recently commented on DOV. Barclays upped their price target on Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada raised their target price on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Wells Fargo & Company boosted their price target on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Robert W. Baird restated an “outperform” rating and issued a $208.00 price objective on shares of Dover in a research report on Monday, July 22nd. Finally, Oppenheimer reiterated an “outperform” rating and set a $215.00 target price (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Four equities research 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, Dover presently has an average rating of “Moderate Buy” and an average target price of $207.44.

Dover Stock Performance

Shares of DOV stock opened at $191.84 on Monday. Dover has a 52-week low of $127.25 and a 52-week high of $195.68. The stock’s 50-day moving average price is $187.25 and its 200 day moving average price is $182.56. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $26.36 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 2.20 and a beta of 1.22.

Insiders Place Their Bets

In other news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was 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 $2,156,700. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Brad M. Cerepak sold 14,818 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the sale, the chief financial officer now owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the transaction, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at $8,706,100. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,042 shares of company stock worth $7,368,578. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Valmark Advisers Inc. grew its position in shares of Dover by 1.6% in the second quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock valued at $715,000 after purchasing an additional 63 shares during the period. Mather Group LLC. grew its holdings in Dover by 2.3% in the 2nd quarter. Mather Group LLC. now owns 3,145 shares of the industrial products company’s stock valued at $557,000 after buying an additional 71 shares during the period. PFG Investments LLC increased its stake in shares of Dover by 3.9% during the 2nd quarter. PFG Investments LLC now owns 1,951 shares of the industrial products company’s stock valued at $352,000 after acquiring an additional 74 shares during the last quarter. Bill Few Associates Inc. lifted its holdings in shares of Dover by 3.6% during the 3rd quarter. Bill Few Associates Inc. now owns 2,325 shares of the industrial products company’s stock worth $446,000 after acquiring an additional 80 shares during the period. Finally, CX Institutional lifted its holdings in shares of Dover by 1.7% during the 2nd quarter. CX Institutional now owns 5,095 shares of the industrial products company’s stock worth $919,000 after acquiring an additional 87 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.