Dover (NYSE:DOV) Coverage Initiated at BMO Capital Markets

Equities research analysts at BMO Capital Markets assumed coverage on shares of Dover (NYSE:DOV) in a report released on Friday, MarketBeat Ratings reports. The brokerage set a “market perform” rating and a $237.00 price target on the industrial products company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 13.23% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Weiss Ratings upgraded shares of Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 6th. The Goldman Sachs Group reissued a “buy” rating and set a $224.00 price target on shares of Dover in a research note on Saturday, January 31st. Wells Fargo & Company upgraded shares of Dover from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $210.00 to $230.00 in a report on Tuesday, March 17th. Morgan Stanley set a $210.00 target price on shares of Dover in a report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $226.54.

Dover Stock Performance

NYSE DOV opened at $209.31 on Friday. Dover has a 1-year low of $143.04 and a 1-year high of $237.54. The company has a 50 day moving average of $216.71 and a 200-day moving average of $194.51. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. The firm has a market cap of $28.21 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 1.65 and a beta of 1.27.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Dover had a return on equity of 17.87% and a net margin of 13.52%.The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the previous year, the business posted $2.20 earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities analysts forecast that Dover will post 9.45 earnings per share for the current fiscal year.

Insider Transactions at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total transaction of $932,920.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Girish Juneja sold 1,500 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total transaction of $346,155.00. Following the transaction, the vice president owned 8,422 shares of the company’s stock, valued at $1,943,544.94. The trade was a 15.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 82,497 shares of company stock valued at $19,196,277 over the last three months. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Dover

A number of institutional investors have recently bought and sold shares of DOV. Vanguard Group Inc. increased its holdings in shares of Dover by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 16,733,000 shares of the industrial products company’s stock worth $3,266,951,000 after acquiring an additional 120,341 shares during the last quarter. State Street Corp lifted its holdings in Dover by 3.5% during the 4th quarter. State Street Corp now owns 6,760,797 shares of the industrial products company’s stock valued at $1,319,978,000 after purchasing an additional 227,436 shares during the last quarter. Geode Capital Management LLC boosted its position in Dover by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,519,070 shares of the industrial products company’s stock worth $684,348,000 after purchasing an additional 30,372 shares during the period. Bank of New York Mellon Corp boosted its position in Dover by 174.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,880,653 shares of the industrial products company’s stock worth $562,419,000 after purchasing an additional 1,830,722 shares during the period. Finally, Nuveen LLC increased its holdings in shares of Dover by 9.9% in the fourth quarter. Nuveen LLC now owns 2,623,281 shares of the industrial products company’s stock valued at $512,169,000 after purchasing an additional 235,454 shares during the last quarter. Institutional investors and hedge funds 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.