Dover’s (DOV) Hold Rating Reiterated at Royal Bank of Canada
Dover (NYSE:DOV)‘s stock had its “hold” rating reiterated by equities researchers at Royal Bank of Canada in a research note issued on Thursday. They currently have a $100.00 price target on the industrial products company’s stock. Royal Bank of Canada’s price objective suggests a potential downside of 3.01% from the company’s current price.
A number of other research analysts have also recently commented on the company. Stifel Nicolaus restated a “hold” rating and issued a $100.00 price target on shares of Dover in a research report on Thursday, December 14th. ValuEngine cut Dover from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research cut Dover from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. SunTrust Banks restated a “hold” rating and issued a $96.00 price target on shares of Dover in a research report on Monday, October 23rd. Finally, Citigroup restated a “neutral” rating and issued a $96.00 price target (up previously from $90.00) on shares of Dover in a research report on Monday, October 9th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $96.00.
Shares of Dover (NYSE:DOV) traded up $0.59 during midday trading on Thursday, hitting $103.10. The company had a trading volume of 984,163 shares, compared to its average volume of 872,623. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.70. Dover has a 52 week low of $75.51 and a 52 week high of $103.77. The company has a market capitalization of $16,060.00, a PE ratio of 23.98, a P/E/G ratio of 1.74 and a beta of 1.29.
In other news, Director Michael B. Stubbs sold 41,505 shares of Dover stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $95.67, for a total transaction of $3,970,783.35. Following the sale, the director now directly owns 275,344 shares of the company’s stock, valued at $26,342,160.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael B. Stubbs sold 8,495 shares of Dover stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $96.30, for a total value of $818,068.50. Following the sale, the director now directly owns 275,344 shares in the company, valued at $26,515,627.20. The disclosure for this sale can be found here. Insiders sold 65,276 shares of company stock worth $6,234,042 over the last ninety days. 2.50% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Dover by 388.2% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the industrial products company’s stock valued at $155,000 after purchasing an additional 1,347 shares in the last quarter. Cape Cod Five Cents Savings Bank acquired a new stake in shares of Dover during the third quarter valued at about $201,000. NBT Bank N A NY acquired a new stake in shares of Dover during the third quarter valued at about $202,000. South State Corp acquired a new stake in shares of Dover during the third quarter valued at about $208,000. Finally, Folger Nolan Fleming Douglas Capital Management Inc. bought a new position in shares of Dover during the third quarter worth about $209,000. 84.42% of the stock is currently owned by hedge funds and other institutional investors.
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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