Morgan Stanley Increases Dover (NYSE:DOV) Price Target to $115.00
Dover (NYSE:DOV) had its target price lifted by analysts at Morgan Stanley from $114.00 to $115.00 in a research report issued on Tuesday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s price target would indicate a potential downside of 1.76% from the company’s previous close.
A number of other research firms have also recently commented on DOV. Citigroup increased their target price on Dover from $115.00 to $132.00 and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. upped their price target on Dover from $82.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Barclays upped their price target on Dover from $112.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Robert W. Baird upped their price target on Dover from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada set a $96.00 price target on Dover and gave the company a “hold” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $109.11.
Shares of NYSE DOV traded down $0.07 during trading on Tuesday, reaching $117.06. The company had a trading volume of 2,383 shares, compared to its average volume of 579,753. Dover has a 12-month low of $77.16 and a 12-month high of $117.27. The stock has a market cap of $16.82 billion, a PE ratio of 23.55, a P/E/G ratio of 1.60 and a beta of 1.50. The business’s 50-day moving average is $114.08 and its 200 day moving average is $102.60. The company has a quick ratio of 0.97, a current ratio of 1.42 and a debt-to-equity ratio of 0.96.
In other Dover news, Director Kristiane C. Graham sold 13,596 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $105.07, for a total value of $1,428,531.72. Following the transaction, the director now owns 356,704 shares of the company’s stock, valued at $37,478,889.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP William Spurgeon sold 6,559 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $109.48, for a total value of $718,079.32. Following the completion of the transaction, the vice president now directly owns 5,296 shares in the company, valued at approximately $579,806.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,210 shares of company stock worth $2,712,287. Corporate insiders own 1.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Dover by 1.5% in the second quarter. Vanguard Group Inc. now owns 17,343,884 shares of the industrial products company’s stock valued at $1,737,857,000 after acquiring an additional 254,585 shares during the period. BlackRock Inc. lifted its holdings in Dover by 3.1% in the second quarter. BlackRock Inc. now owns 12,354,483 shares of the industrial products company’s stock valued at $1,237,921,000 after acquiring an additional 371,171 shares during the period. Boston Partners lifted its holdings in Dover by 0.7% in the second quarter. Boston Partners now owns 7,696,715 shares of the industrial products company’s stock valued at $771,171,000 after acquiring an additional 54,431 shares during the period. Nuveen Asset Management LLC lifted its holdings in Dover by 50,089.3% in the second quarter. Nuveen Asset Management LLC now owns 1,981,474 shares of the industrial products company’s stock valued at $198,544,000 after acquiring an additional 1,977,526 shares during the period. Finally, Invesco Ltd. lifted its holdings in Dover by 9.9% in the second quarter. Invesco Ltd. now owns 1,120,297 shares of the industrial products company’s stock valued at $112,254,000 after acquiring an additional 101,342 shares during the period. 86.89% of the stock is currently owned by institutional investors.
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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