Dover (NYSE:DOV) had its price objective upped by stock analysts at Morgan Stanley from $110.00 to $113.00 in a research note issued to investors on Thursday. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s price objective indicates a potential upside of 7.27% from the company’s current price.
DOV has been the subject of a number of other reports. SunTrust Banks reiterated a “hold” rating and issued a $90.00 target price on shares of Dover in a research report on Thursday, October 12th. BMO Capital Markets reiterated a “buy” rating on shares of Dover in a research report on Friday, January 26th. Zacks Investment Research cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Stifel Nicolaus reiterated a “hold” rating and issued a $100.00 target price on shares of Dover in a research report on Thursday, December 14th. Finally, Citigroup reiterated a “neutral” rating and issued a $96.00 target price (up from $90.00) on shares of Dover in a research report on Monday, October 9th. Thirteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $102.17.
Dover (NYSE:DOV) traded down $0.87 during trading hours on Thursday, reaching $105.34. 2,066,024 shares of the company’s stock were exchanged, compared to its average volume of 1,180,756. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 0.87. The firm has a market capitalization of $16,410.00, a PE ratio of 20.45, a PEG ratio of 1.76 and a beta of 1.29. Dover has a 52 week low of $75.51 and a 52 week high of $109.06.
In related news, SVP Stephen Gary Kennon sold 2,359 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $94.40, for a total value of $222,689.60. Following the completion of the sale, the senior vice president now owns 5,192 shares of the company’s stock, valued at $490,124.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William T. Bosway sold 6,087 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $94.66, for a total transaction of $576,195.42. Following the completion of the sale, the vice president now directly owns 21,877 shares of the company’s stock, valued at approximately $2,070,876.82. The disclosure for this sale can be found here. Insiders sold 10,876 shares of company stock valued at $1,026,090 in the last three months. 2.50% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Flinton Capital Management LLC grew its holdings in shares of Dover by 0.4% in the second quarter. Flinton Capital Management LLC now owns 6,608 shares of the industrial products company’s stock valued at $530,000 after purchasing an additional 28 shares during the period. Veritable L.P. grew its holdings in shares of Dover by 1.1% in the second quarter. Veritable L.P. now owns 4,044 shares of the industrial products company’s stock valued at $324,000 after purchasing an additional 43 shares during the period. Sentry Investment Management LLC grew its holdings in shares of Dover by 1.1% in the second quarter. Sentry Investment Management LLC now owns 10,900 shares of the industrial products company’s stock valued at $874,000 after purchasing an additional 117 shares during the period. FTB Advisors Inc. grew its holdings in shares of Dover by 2.8% in the second quarter. FTB Advisors Inc. now owns 6,612 shares of the industrial products company’s stock valued at $530,000 after purchasing an additional 179 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of Dover by 2.8% in the second quarter. Nordea Investment Management AB now owns 8,009 shares of the industrial products company’s stock valued at $642,000 after purchasing an additional 215 shares during the period. 84.66% of the stock is 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.
