Dover (NYSE:DOV) Upgraded by StockNews.com to Buy Rating

Dover (NYSE:DOV) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Several other analysts also recently issued reports on the company. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a report on Monday, October 28th. Mizuho raised their price target on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. raised their price target on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 target price (up previously from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 target price on shares of Dover in a research note on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $207.44.

Dover Stock Performance

Shares of NYSE DOV traded down $2.22 during mid-day trading on Tuesday, hitting $202.36. The company had a trading volume of 501,397 shares, compared to its average volume of 970,649. The stock has a market cap of $27.76 billion, a price-to-earnings ratio of 18.10, a PEG ratio of 2.71 and a beta of 1.22. Dover has a 12 month low of $130.75 and a 12 month high of $204.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. The firm’s 50 day simple moving average is $189.48 and its two-hundred day simple moving average is $184.11.

Insider Transactions at Dover

In other news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the sale, the chief executive officer now directly owns 182,928 shares in the company, valued at $33,285,578.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the transaction, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,042 shares of company stock valued at $7,368,578. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DOV. LRI Investments LLC bought a new position in Dover in the 1st quarter valued at $27,000. McClarren Financial Advisors Inc. boosted its position in Dover by 4,400.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after buying an additional 176 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Dover in the 3rd quarter valued at $33,000. Fairscale Capital LLC bought a new position in Dover in the 2nd quarter valued at $34,000. Finally, Transcendent Capital Group LLC boosted its position in Dover by 208.0% in the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after buying an additional 156 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Dover Company Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.