Wall Street Zen Upgrades Dover (NYSE:DOV) to “Buy”

Dover (NYSE:DOV) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Other equities research analysts also recently issued reports about the stock. Oppenheimer raised their target price on shares of Dover from $228.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Barclays set a $206.00 price objective on shares of Dover in a report on Monday, February 2nd. JPMorgan Chase & Co. increased their target price on Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Wells Fargo & Company upped their price objective on Dover from $205.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Finally, BNP Paribas Exane initiated coverage on Dover in a report on Thursday, December 4th. They set a “neutral” rating and a $195.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and an average target price of $224.00.

Dover Stock Down 0.8%

DOV opened at $225.32 on Friday. The firm has a market capitalization of $30.39 billion, a P/E ratio of 28.38, a price-to-earnings-growth ratio of 1.74 and a beta of 1.29. Dover has a one year low of $143.04 and a one year high of $237.54. The company has a fifty day moving average price of $212.11 and a 200-day moving average price of $190.10. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.79 and a quick ratio of 1.28.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.03. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.09 billion. Dover had a return on equity of 17.87% and a net margin of 13.52%.The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company earned $2.20 earnings per share. Equities research analysts expect that Dover will post 9.45 earnings per share for the current fiscal year.

Insider Activity

In other Dover news, SVP Ivonne M. Cabrera sold 4,000 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total transaction of $932,920.00. Following the completion of the sale, the senior vice president owned 72,188 shares of the company’s stock, valued at $16,836,407.24. This represents a 5.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard J. Tobin sold 76,997 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the completion of the transaction, the chief executive officer owned 217,979 shares in the company, valued at $50,723,713.30. The trade was a 26.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 85,127 shares of company stock valued at $19,698,081. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Brighton Jones LLC increased its stake in shares of Dover by 62.1% during the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock valued at $552,000 after buying an additional 1,128 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Dover by 4.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,377 shares of the industrial products company’s stock worth $2,526,000 after purchasing an additional 676 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Dover by 11.8% in the 1st quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company’s stock worth $2,636,000 after purchasing an additional 1,580 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Dover during the 2nd quarter valued at about $488,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Dover during the second quarter valued at about $239,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Company Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.