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.

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

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.

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About Dover

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 (NYSE:DOV)

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