Dover Corporation (DOV) Earns “Hold” Rating from Stifel Nicolaus

Dover Corporation (NYSE:DOV)‘s stock had its “hold” rating reissued by equities researchers at Stifel Nicolaus in a report released on Tuesday, October 17th. They presently have a $92.00 target price on the industrial products company’s stock. Stifel Nicolaus’ price target points to a potential downside of 3.71% from the company’s current price.

DOV has been the subject of a number of other reports. Robert W. Baird restated a “buy” rating and issued a $95.00 target price on shares of Dover Corporation in a report on Tuesday, September 12th. BMO Capital Markets reiterated a “buy” rating and set a $94.00 price objective on shares of Dover Corporation in a research note on Sunday, August 27th. Zacks Investment Research upgraded shares of Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research note on Tuesday, July 18th. BidaskClub upgraded shares of Dover Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $91.00 price target on shares of Dover Corporation in a report on Wednesday, September 6th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $94.69.

Shares of Dover Corporation (DOV) traded down $0.38 on Tuesday, reaching $95.54. 458,188 shares of the company’s stock were exchanged, compared to its average volume of 1,279,962. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $14,943.48, a PE ratio of 26.57, a P/E/G ratio of 1.87 and a beta of 1.28. Dover Corporation has a one year low of $65.50 and a one year high of $97.09.

Dover Corporation (NYSE:DOV) last posted its quarterly earnings data on Thursday, October 19th. The industrial products company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.99 billion. Dover Corporation had a net margin of 8.91% and a return on equity of 14.10%. The company’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.83 earnings per share. research analysts predict that Dover Corporation will post 3.94 earnings per share for the current fiscal year.

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In related news, Director Michael B. Stubbs sold 8,495 shares of Dover Corporation stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $96.30, for a total value of $818,068.50. Following the completion of the sale, the director now directly owns 275,344 shares in the company, valued at $26,515,627.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Paul Goldberg sold 4,400 shares of Dover Corporation stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $95.25, for a total value of $419,100.00. Following the completion of the sale, the vice president now owns 4,070 shares of the company’s stock, valued at $387,667.50. The disclosure for this sale can be found here. Insiders have sold 54,400 shares of company stock worth $5,207,952 in the last quarter. Corporate insiders own 2.50% of the company’s stock.

A number of hedge funds have recently made changes to their positions in DOV. IFP Advisors Inc grew its position in shares of Dover Corporation by 15.1% during the 2nd quarter. IFP Advisors Inc now owns 1,728 shares of the industrial products company’s stock worth $139,000 after buying an additional 227 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Dover Corporation by 5,446.9% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock worth $143,000 after buying an additional 1,743 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in shares of Dover Corporation by 388.2% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the industrial products company’s stock worth $155,000 after buying an additional 1,347 shares during the period. Penserra Capital Management LLC grew its position in shares of Dover Corporation by 13.0% during the 2nd quarter. Penserra Capital Management LLC now owns 2,236 shares of the industrial products company’s stock worth $179,000 after buying an additional 258 shares during the period. Finally, First Mercantile Trust Co. grew its position in shares of Dover Corporation by 10.1% during the 2nd quarter. First Mercantile Trust Co. now owns 2,327 shares of the industrial products company’s stock worth $187,000 after buying an additional 213 shares during the period. Hedge funds and other institutional investors own 84.99% 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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