StockNews.com Upgrades Dover (NYSE:DOV) to “Buy”

Dover (NYSE:DOV) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

Several other brokerages have also weighed in on DOV. Citigroup lifted their price target on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Wells Fargo & Company lifted their price target on Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday. Robert W. Baird lifted their price target on Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday. Barclays lifted their price target on Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Mizuho lifted their price target on Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.75.

Dover Stock Performance

NYSE DOV opened at $180.17 on Friday. The stock has a 50-day simple moving average of $171.75 and a two-hundred day simple moving average of $154.38. The firm has a market capitalization of $24.75 billion, a P/E ratio of 17.31, a PEG ratio of 1.85 and a beta of 1.27. Dover has a fifty-two week low of $127.25 and a fifty-two week high of $181.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 1.40.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 25.41% and a net margin of 17.28%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the business posted $1.94 EPS. On average, equities analysts forecast that Dover will post 9.09 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the transaction, the chief financial officer now directly owns 23,909 shares in the company, valued at approximately $3,897,406.09. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the transaction, the chief financial officer now directly owns 23,909 shares in the company, valued at approximately $3,897,406.09. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $171.19, for a total value of $256,785.00. Following the transaction, the director now owns 22,955 shares in the company, valued at $3,929,666.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,910 shares of company stock worth $4,318,059. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Yousif Capital Management LLC grew its position in Dover by 0.3% in the first quarter. Yousif Capital Management LLC now owns 64,383 shares of the industrial products company’s stock worth $11,408,000 after acquiring an additional 217 shares during the period. YHB Investment Advisors Inc. purchased a new position in Dover in the first quarter worth approximately $128,000. SlateStone Wealth LLC purchased a new position in Dover in the first quarter worth approximately $989,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Dover by 1.0% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 57,662 shares of the industrial products company’s stock worth $10,217,000 after acquiring an additional 547 shares during the period. Finally, Freedom Day Solutions LLC purchased a new position in Dover in the first quarter worth approximately $229,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.