BMO Capital Markets Begins Coverage on Dover (NYSE:DOV)

Equities research analysts at BMO Capital Markets started coverage on shares of Dover (NYSE:DOV) in a note issued to investors on Friday, Marketbeat reports. The firm set a “market perform” rating and a $237.00 price target on the industrial products company’s stock. BMO Capital Markets’ price target points to a potential upside of 14.61% from the company’s current price.

A number of other research analysts have also recently weighed in on DOV. Royal Bank Of Canada lifted their price objective on shares of Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. JPMorgan Chase & Co. raised their price target on shares of Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Weiss Ratings upgraded shares of Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 6th. Oppenheimer upped their price objective on Dover from $228.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Finally, Wells Fargo & Company upgraded Dover from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $210.00 to $230.00 in a research note on Tuesday, March 17th. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $226.54.

Dover Price Performance

DOV stock opened at $206.78 on Friday. The business’s fifty day moving average price is $216.71 and its 200 day moving average price is $194.85. Dover has a 12-month low of $143.04 and a 12-month high of $237.54. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $27.87 billion, a PE ratio of 26.04, a P/E/G ratio of 1.59 and a beta of 1.27.

Dover (NYSE:DOV) last released its earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.03. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.09 billion. Dover had a return on equity of 17.87% and a net margin of 13.52%.Dover’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.20 EPS. On average, sell-side analysts anticipate that Dover will post 9.45 EPS for the current year.

Insider Buying and Selling

In other Dover news, VP Girish Juneja sold 1,500 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $230.77, for a total transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Ivonne M. Cabrera sold 4,000 shares of Dover stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total transaction of $932,920.00. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 82,497 shares of company stock worth $19,196,277 in the last 90 days. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Dover

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. grew its holdings in shares of Dover by 6.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 114,911 shares of the industrial products company’s stock worth $22,435,000 after acquiring an additional 7,315 shares during the period. World Investment Advisors raised its holdings in Dover by 21.4% during the fourth quarter. World Investment Advisors now owns 4,238 shares of the industrial products company’s stock worth $828,000 after purchasing an additional 747 shares during the last quarter. Winthrop Partners WNY LLC purchased a new stake in Dover during the fourth quarter worth $230,000. Auto Owners Insurance Co grew its holdings in Dover by 19,424.0% in the fourth quarter. Auto Owners Insurance Co now owns 761,436 shares of the industrial products company’s stock valued at $14,866,000 after purchasing an additional 757,536 shares during the last quarter. Finally, Rehmann Capital Advisory Group grew its holdings in Dover by 4.8% in the fourth quarter. Rehmann Capital Advisory Group now owns 9,131 shares of the industrial products company’s stock valued at $1,784,000 after purchasing an additional 415 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.