UBS Group Initiates Coverage on Dover (DOV)

Analysts at UBS Group started coverage on shares of Dover (NYSE:DOV) in a report released on Monday, The Fly reports. The firm set a “neutral” rating on the industrial products company’s stock.

Several other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Dover from a “buy” rating to a “hold” rating in a research note on Monday. Royal Bank of Canada reaffirmed a “hold” rating and set a $105.00 price objective on shares of Dover in a research note on Wednesday, January 17th. Stifel Nicolaus reaffirmed a “hold” rating and set a $112.00 price objective (up from $100.00) on shares of Dover in a research note on Tuesday, January 16th. ValuEngine downgraded shares of Dover from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $96.00 price objective on shares of Dover in a research note on Monday, October 23rd. Fourteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $98.75.

Shares of Dover (NYSE:DOV) traded up $0.43 during trading hours on Monday, hitting $104.84. 776,629 shares of the stock traded hands, compared to its average volume of 843,514. The company has a market capitalization of $16,330.00, a P/E ratio of 24.38, a price-to-earnings-growth ratio of 1.75 and a beta of 1.29. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.70. Dover has a 52-week low of $75.51 and a 52-week high of $105.00.

In related news, Director Michael B. Stubbs sold 41,505 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 275,344 shares in the company, valued at $26,342,160.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael B. Stubbs sold 8,495 shares of the business’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $96.30, for a total transaction of $818,068.50. Following the transaction, the director now owns 275,344 shares in the company, valued at approximately $26,515,627.20. The disclosure for this sale can be found here. Insiders have sold 65,276 shares of company stock worth $6,234,042 in the last quarter. 2.50% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. increased its position 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 buying an additional 1,347 shares during the period. Cape Cod Five Cents Savings Bank purchased a new stake in Dover in the third quarter worth about $201,000. NBT Bank N A NY purchased a new stake in Dover in the third quarter worth about $202,000. South State Corp purchased a new stake in Dover in the third quarter worth about $208,000. Finally, Folger Nolan Fleming Douglas Capital Management Inc. purchased a new stake in Dover in the third quarter worth about $209,000. Institutional investors own 84.61% 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.

The Fly

Analyst Recommendations for Dover (NYSE:DOV)

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