Dover (NYSE:DOV) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Friday.

A number of other research firms have also recently issued reports on DOV. J P Morgan Chase & Co upgraded shares of Dover from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $80.00 to $105.00 in a research note on Wednesday, September 20th. Morgan Stanley boosted their price objective on shares of Dover from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 19th. Robert W. Baird restated a “buy” rating and issued a $95.00 price objective on shares of Dover in a research report on Tuesday, September 12th. SunTrust Banks restated a “hold” rating and issued a $90.00 price objective on shares of Dover in a research report on Thursday, October 12th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $92.00 price objective on shares of Dover in a research report on Tuesday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Dover currently has a consensus rating of “Hold” and a consensus target price of $94.69.

Dover (NYSE:DOV) traded down $0.85 during trading hours on Friday, hitting $96.88. 1,320,000 shares of the stock were exchanged, compared to its average volume of 768,643. Dover has a 52 week low of $73.61 and a 52 week high of $98.00. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $15,093.03, a PE ratio of 26.84, a P/E/G ratio of 1.89 and a beta of 1.29.

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

In other Dover news, Director Michael B. Stubbs sold 41,505 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $95.67, for a total transaction of $3,970,783.35. Following the completion of the sale, the director now owns 275,344 shares in the company, valued at approximately $26,342,160.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul Goldberg sold 4,400 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $95.25, for a total transaction of $419,100.00. Following the sale, the vice president now owns 4,070 shares of the company’s stock, valued at approximately $387,667.50. The disclosure for this sale can be found here. Insiders have sold a total of 65,276 shares of company stock valued at $6,234,042 in the last quarter. Corporate insiders own 2.50% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Dover by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 16,549,433 shares of the industrial products company’s stock valued at $1,327,596,000 after acquiring an additional 370,572 shares during the last quarter. BlackRock Inc. raised its position in shares of Dover by 3.9% during the 2nd quarter. BlackRock Inc. now owns 10,314,301 shares of the industrial products company’s stock valued at $827,412,000 after acquiring an additional 389,449 shares during the last quarter. JPMorgan Chase & Co. raised its position 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 valued at $531,702,000 after acquiring an additional 848,098 shares during the last quarter. Pzena Investment Management LLC raised its position in shares of Dover by 0.3% during the 3rd quarter. Pzena Investment Management LLC now owns 5,613,811 shares of the industrial products company’s stock valued at $513,046,000 after acquiring an additional 14,504 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Dover by 2.3% in the 3rd quarter. Wells Fargo & Company MN now owns 3,205,690 shares of the industrial products company’s stock valued at $292,968,000 after buying an additional 73,375 shares during the period. Institutional investors own 84.60% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Dover (NYSE:DOV)

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