Brokerages Set Dover Corp (DOV) Price Target at $104.42
Dover Corp (NYSE:DOV) has earned an average rating of “Hold” from the eighteen ratings firms that are covering the company, MarketBeat.com reports. Twelve research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $104.42.
DOV has been the topic of a number of recent analyst reports. BMO Capital Markets reaffirmed a “buy” rating on shares of Dover in a research note on Friday, January 26th. Stifel Nicolaus reissued a “hold” rating and issued a $112.00 price objective (up from $100.00) on shares of Dover in a research note on Tuesday, January 16th. Zacks Investment Research cut shares of Dover from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. ValuEngine cut shares of Dover from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Seaport Global Securities reissued a “hold” rating and issued a $110.00 price objective on shares of Dover in a research note on Friday, February 2nd.
Dover (NYSE:DOV) traded up $1.08 during trading hours on Friday, hitting $98.43. 407,143 shares of the stock were exchanged, compared to its average volume of 1,254,559. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.40. Dover has a fifty-two week low of $75.51 and a fifty-two week high of $109.06. The firm has a market cap of $15,033.21, a PE ratio of 19.10, a PEG ratio of 1.28 and a beta of 1.28.
In other Dover news, VP William T. Bosway sold 6,087 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $94.66, for a total transaction of $576,195.42. Following the sale, the vice president now directly owns 21,877 shares of the company’s stock, valued at approximately $2,070,876.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Paul Goldberg sold 2,430 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $93.50, for a total transaction of $227,205.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,876 shares of company stock worth $1,026,090 over the last ninety days. 2.50% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of Dover by 2.4% during the 4th quarter. BlackRock Inc. now owns 10,116,808 shares of the industrial products company’s stock worth $1,021,698,000 after acquiring an additional 234,543 shares during the period. Pzena Investment Management LLC lifted its holdings in shares of Dover by 5.9% during the 4th quarter. Pzena Investment Management LLC now owns 5,942,675 shares of the industrial products company’s stock worth $600,151,000 after acquiring an additional 328,864 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Dover by 17.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,810,306 shares of the industrial products company’s stock worth $531,702,000 after acquiring an additional 848,098 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Dover by 2.3% during the 3rd quarter. Wells Fargo & Company MN now owns 3,205,690 shares of the industrial products company’s stock worth $292,968,000 after acquiring an additional 73,375 shares during the period. Finally, Third Point LLC purchased a new position in shares of Dover during the 3rd quarter worth about $150,794,000. 84.24% of the stock is currently owned by institutional investors.
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Dover 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.
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