Dover Corporation (NYSE:DOV)‘s stock had its “buy” rating reaffirmed by research analysts at BMO Capital Markets in a report released on Sunday. They presently have a $94.00 price target on the industrial products company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 10.24% from the stock’s current price.

A number of other research firms have also weighed in on DOV. Zacks Investment Research upgraded shares of Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a report on Tuesday, July 18th. Robert W. Baird set a $91.00 target price on shares of Dover Corporation and gave the stock a “buy” rating in a report on Thursday. BidaskClub lowered shares of Dover Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Dover Corporation in a report on Wednesday, June 7th. Finally, Seaport Global Securities reiterated a “buy” rating on shares of Dover Corporation in a report on Monday, June 5th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $89.00.

Shares of Dover Corporation (DOV) opened at 85.27 on Friday. Dover Corporation has a 12-month low of $65.50 and a 12-month high of $87.63. The company has a market cap of $13.28 billion, a P/E ratio of 21.32 and a beta of 1.27. The company has a 50-day moving average price of $84.57 and a 200-day moving average price of $81.34.

Dover Corporation (NYSE:DOV) last posted its earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.03. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.94 billion. Dover Corporation had a net margin of 8.61% and a return on equity of 13.36%. Dover Corporation’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.76 earnings per share. On average, analysts predict that Dover Corporation will post $4.31 earnings per share for the current year.

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In other news, Director Michael B. Stubbs sold 25,000 shares of Dover Corporation stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the completion of the transaction, the director now directly owns 275,344 shares in the company, valued at $23,965,941.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Farmers National Bank raised its position in Dover Corporation by 0.3% in the first quarter. Farmers National Bank now owns 2,988 shares of the industrial products company’s stock valued at $220,000 after buying an additional 10 shares during the last quarter. Cleararc Capital Inc. raised its position in Dover Corporation by 0.4% in the first quarter. Cleararc Capital Inc. now owns 3,799 shares of the industrial products company’s stock valued at $305,000 after buying an additional 15 shares during the last quarter. Citizens Financial Group Inc RI raised its position in Dover Corporation by 0.3% in the second quarter. Citizens Financial Group Inc RI now owns 4,555 shares of the industrial products company’s stock valued at $365,000 after buying an additional 15 shares during the last quarter. Contravisory Investment Management Inc. raised its position in Dover Corporation by 0.7% in the second quarter. Contravisory Investment Management Inc. now owns 3,323 shares of the industrial products company’s stock valued at $267,000 after buying an additional 23 shares during the last quarter. Finally, FineMark National Bank & Trust raised its position in Dover Corporation by 0.7% in the second quarter. FineMark National Bank & Trust now owns 3,292 shares of the industrial products company’s stock valued at $264,000 after buying an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 85.73% of the company’s stock.

Dover Corporation Company Profile

Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.

Analyst Recommendations for Dover Corporation (NYSE:DOV)

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