Dover (NYSE:DOV) Upgraded at Wall Street Zen

Dover (NYSE:DOV) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

DOV has been the subject of a number of other reports. Royal Bank Of Canada boosted their price objective on Dover from $199.00 to $209.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. BNP Paribas Exane began coverage on Dover in a report on Thursday, December 4th. They set a “neutral” rating and a $195.00 price target for the company. Oppenheimer raised their price objective on Dover from $228.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Barclays set a $206.00 price objective on shares of Dover in a report on Monday, February 2nd. Finally, Robert W. Baird set a $255.00 target price on shares of Dover in a report on Friday, January 30th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

Dover Stock Down 0.8%

Shares of NYSE:DOV opened at $225.32 on Friday. The firm has a market cap of $30.39 billion, a P/E ratio of 28.38, a PEG ratio of 1.74 and a beta of 1.29. Dover has a 52-week low of $143.04 and a 52-week high of $237.54. The business’s 50 day simple moving average is $212.11 and its two-hundred day simple moving average is $190.10. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79.

Dover (NYSE:DOV) last issued its earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.09 billion. Dover had a return on equity of 17.87% and a net margin of 13.52%.Dover’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.20 earnings per share. As a group, research analysts forecast that Dover will post 9.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Ivonne M. Cabrera sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total value of $932,920.00. Following the transaction, the senior vice president owned 72,188 shares in the company, valued at approximately $16,836,407.24. This represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Girish Juneja sold 1,500 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $230.77, for a total value of $346,155.00. Following the transaction, the vice president directly owned 8,422 shares of the company’s stock, valued at approximately $1,943,544.94. This trade represents a 15.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 85,127 shares of company stock valued at $19,698,081. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dover

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DOV. Meeder Asset Management Inc. lifted its stake in shares of Dover by 234.2% during the 4th quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock valued at $25,000 after buying an additional 89 shares in the last quarter. Financial Life Planners purchased a new stake in shares of Dover during the third quarter worth $25,000. MV Capital Management Inc. purchased a new position in shares of Dover in the fourth quarter valued at $29,000. Tompkins Financial Corp raised its stake in shares of Dover by 102.7% during the 4th quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 77 shares during the period. Finally, AdvisorShares Investments LLC purchased a new stake in Dover during the 2nd quarter worth about $30,000. Institutional investors own 84.46% of the company’s stock.

Dover Company Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.