Dover Corporation (NYSE:DOV) Lifted to Buy at BidaskClub
Dover Corporation (NYSE:DOV) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, July 6th.
Other equities analysts have also issued research reports about the company. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Dover Corporation in a research note on Wednesday, June 7th. Citigroup Inc. raised their price target on Dover Corporation from $84.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, April 11th. CIBC reissued a “hold” rating on shares of Dover Corporation in a report on Wednesday, May 24th. Royal Bank Of Canada reissued an “outperform” rating and issued a $90.00 price target (up previously from $89.00) on shares of Dover Corporation in a report on Thursday, July 6th. Finally, Stifel Nicolaus lifted their target price on Dover Corporation from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, April 21st. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $85.82.
Dover Corporation (NYSE DOV) traded up 0.70% during trading on Thursday, reaching $84.32. 1,482,052 shares of the company were exchanged. The company has a market capitalization of $13.13 billion, a P/E ratio of 22.79 and a beta of 1.27. Dover Corporation has a one year low of $65.50 and a one year high of $84.68. The firm’s 50-day moving average is $81.54 and its 200 day moving average is $79.42.
Dover Corporation (NYSE:DOV) last released its earnings results on Thursday, April 20th. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.48. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.77 billion. Dover Corporation had a return on equity of 12.93% and a net margin of 8.33%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 earnings per share. On average, analysts anticipate that Dover Corporation will post $4.22 EPS for the current fiscal year.
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In other Dover Corporation news, VP C. Anderson Fincher sold 15,638 shares of the business’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $79.85, for a total transaction of $1,248,694.30. Following the transaction, the vice president now owns 32,842 shares of the company’s stock, valued at $2,622,433.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP William Spurgeon sold 7,864 shares of the business’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $81.25, for a total value of $638,950.00. Following the transaction, the vice president now directly owns 39,155 shares in the company, valued at approximately $3,181,343.75. The disclosure for this sale can be found here. Insiders have sold 63,502 shares of company stock valued at $5,216,444 over the last quarter. 2.50% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. FMR LLC raised its position in shares of Dover Corporation by 12.4% in the fourth quarter. FMR LLC now owns 120,825 shares of the industrial products company’s stock valued at $9,053,000 after buying an additional 13,326 shares during the period. Thrivent Financial for Lutherans raised its position in Dover Corporation by 5.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,390 shares of the industrial products company’s stock valued at $404,000 after buying an additional 300 shares during the last quarter. Quadrature Capital Ltd raised its position in Dover Corporation by 6.7% in the fourth quarter. Quadrature Capital Ltd now owns 9,492 shares of the industrial products company’s stock valued at $711,000 after buying an additional 592 shares during the last quarter. Teachers Advisors LLC raised its position in Dover Corporation by 164.9% in the fourth quarter. Teachers Advisors LLC now owns 558,407 shares of the industrial products company’s stock valued at $41,841,000 after buying an additional 347,592 shares during the last quarter. Finally, Kentucky Retirement Systems purchased a new position in Dover Corporation during the fourth quarter valued at about $845,000. 84.65% of the stock is currently owned by institutional investors and hedge funds.
Dover Corporation 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.
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