Dover (NYSE:DOV) Raised to Buy at StockNews.com

Dover (NYSE:DOV) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

A number of other brokerages have also issued reports on DOV. Robert W. Baird reissued an “outperform” rating and issued a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. Mizuho upped their price objective on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Barclays upped their price objective on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company upped their price objective on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Dover has an average rating of “Moderate Buy” and an average price target of $208.40.

Dover Price Performance

Dover stock opened at $203.99 on Tuesday. Dover has a 52-week low of $133.77 and a 52-week high of $204.93. The firm has a market capitalization of $27.99 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 2.72 and a beta of 1.22. The company has a fifty day simple moving average of $190.48 and a 200-day simple moving average of $184.40. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53.

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 shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction dated Wednesday, August 21st. The stock was 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brad M. Cerepak sold 14,818 shares of Dover stock in a transaction dated 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 sale, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,156,700. This trade represents 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. Insiders own 1.30% of the company’s stock.

Institutional Trading of Dover

A number of institutional investors have recently modified their holdings of DOV. LRI Investments LLC purchased a new stake in shares of Dover during the 1st quarter worth about $27,000. McClarren Financial Advisors Inc. raised its position 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 acquiring an additional 176 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Dover during the 3rd quarter valued at approximately $33,000. Fairscale Capital LLC bought a new position in Dover during the 2nd quarter worth $34,000. Finally, Transcendent Capital Group LLC grew its stake in Dover by 208.0% during the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after buying an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Company Profile

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.