Dover (NYSE:DOV) Earns Buy Rating from Analysts at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Dover (NYSE:DOV – Get Rating) in a research report issued on Thursday. The firm set a “buy” rating on the industrial products company’s stock.

DOV has been the topic of several other research reports. Oppenheimer raised their price objective on Dover from $167.00 to $174.00 and gave the company an “outperform” rating in a report on Friday, March 10th. Credit Suisse Group reaffirmed an “outperform” rating and set a $174.00 target price on shares of Dover in a report on Thursday, March 9th. Morgan Stanley lifted their target price on Dover from $144.00 to $152.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 1st. Barclays lifted their target price on Dover from $130.00 to $141.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 1st. Finally, The Goldman Sachs Group lifted their target price on Dover from $139.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, December 15th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $159.75.

Dover Trading Down 3.7 %

NYSE DOV opened at $140.33 on Thursday. The company has a quick ratio of 0.74, a current ratio of 1.23 and a debt-to-equity ratio of 0.69. Dover has a twelve month low of $114.49 and a twelve month high of $162.88. The company has a market cap of $19.61 billion, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 1.16 and a beta of 1.36. The business’s fifty day moving average is $148.20 and its 200 day moving average is $136.84.

Dover (NYSE:DOV – Get Rating) last released its quarterly earnings data on Tuesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.01. Dover had a return on equity of 28.55% and a net margin of 12.52%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter last year, the business posted $1.78 EPS. Dover’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, sell-side analysts expect that Dover will post 8.99 EPS for the current fiscal year.

Insider Activity at Dover

In related news, CFO Brad M. Cerepak sold 34,972 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $143.25, for a total value of $5,009,739.00. Following the completion of the sale, the chief financial officer now directly owns 73,878 shares of the company’s stock, valued at approximately $10,583,023.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Dover

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Trust Co. of Vermont increased its holdings in Dover by 1.3% during the 4th quarter. Trust Co. of Vermont now owns 5,029 shares of the industrial products company’s stock worth $681,000 after purchasing an additional 66 shares in the last quarter. Insight Folios Inc increased its holdings in Dover by 3.2% during the 4th quarter. Insight Folios Inc now owns 2,432 shares of the industrial products company’s stock worth $329,000 after purchasing an additional 75 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in Dover by 4.1% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,961 shares of the industrial products company’s stock worth $266,000 after purchasing an additional 77 shares in the last quarter. Ellevest Inc. increased its holdings in Dover by 47.0% during the 3rd quarter. Ellevest Inc. now owns 244 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 78 shares in the last quarter. Finally, First Commonwealth Financial Corp PA increased its holdings in Dover by 2.6% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 3,096 shares of the industrial products company’s stock worth $361,000 after purchasing an additional 78 shares in the last quarter. 85.52% of the stock is owned by institutional investors.

About Dover

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Dover Corp. operates as a manufacturer and solutions provider delivering innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services. It operates through the following segments: Engineered Products, Clean Energy and Fueling, Imaging and Identification, Pumps and Process Solutions, and Climate and Sustainability Technologies.