UBS Group Initiates Coverage on Dover (NYSE:DOV)

Equities researchers at UBS Group began coverage on shares of Dover (NYSE:DOV) in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage set a “neutral” rating and a $217.00 price target on the industrial products company’s stock. UBS Group’s price target would suggest a potential upside of 7.40% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird reissued an “outperform” rating and issued a $208.00 price objective on shares of Dover in a research note on Monday, July 22nd. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a research report on Monday, October 28th. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research report on Tuesday. Mizuho increased their target price on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. boosted their price target on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $208.40.

Dover Stock Down 1.0 %

DOV opened at $202.04 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. The company has a market cap of $27.72 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 2.72 and a beta of 1.22. Dover has a one year low of $136.13 and a one year high of $204.93. The business’s fifty day moving average is $191.02 and its two-hundred day moving average is $184.53.

Insider Activity

In related news, CFO Brad M. Cerepak sold 14,818 shares of the 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 sale, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,156,700. This trade represents a 54.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 $33,285,578.88. The trade was a 12.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,042 shares of company stock worth $7,368,578. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Dover

A number of hedge funds and other institutional investors have recently made changes to their positions in DOV. LRI Investments LLC bought a new stake in shares of Dover in the 1st quarter worth $27,000. McClarren Financial Advisors Inc. lifted its holdings in Dover by 4,400.0% in 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 during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Dover during the 3rd quarter valued at about $33,000. Fairscale Capital LLC bought a new stake in shares of Dover in the 2nd quarter worth approximately $34,000. Finally, Transcendent Capital Group LLC lifted its stake in Dover by 208.0% during the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 156 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

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.