Dover’s (NYSE:DOV) Hold Rating Reaffirmed at Royal Bank of Canada

Dover (NYSE:DOV)‘s stock had its “hold” rating restated by research analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday, January 4th. They currently have a $100.00 price objective on the industrial products company’s stock. Royal Bank of Canada’s target price would indicate a potential downside of 3.39% from the stock’s previous close.

Several other research firms also recently commented on DOV. ValuEngine downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $100.00 price objective on shares of Dover in a report on Thursday, December 14th. Zacks Investment Research downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. SunTrust Banks reaffirmed a “hold” rating and issued a $96.00 price objective on shares of Dover in a report on Monday, October 23rd. Finally, Citigroup reaffirmed a “neutral” rating and issued a $96.00 price objective (up from $90.00) on shares of Dover in a report on Monday, October 9th. Thirteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Dover presently has a consensus rating of “Hold” and a consensus price target of $96.50.

Dover (NYSE:DOV) traded up $0.81 during trading on Thursday, hitting $103.51. 762,773 shares of the stock were exchanged, compared to its average volume of 892,734. Dover has a 1 year low of $75.51 and a 1 year high of $104.20. The company has a market cap of $16,070.00, a P/E ratio of 24.07, a P/E/G ratio of 1.75 and a beta of 1.29. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.70.

Dover (NYSE:DOV) last released its earnings results on Thursday, October 19th. The industrial products company reported $1.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.05. Dover had a net margin of 8.91% and a return on equity of 14.10%. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the prior year, the firm earned $0.83 EPS. The company’s revenue was up 17.5% compared to the same quarter last year. research analysts expect that Dover will post 3.94 earnings per share for the current fiscal year.

In other Dover news, Director Michael B. Stubbs sold 41,505 shares of the firm’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $95.67, for a total value of $3,970,783.35. Following the completion of the transaction, the director now directly owns 275,344 shares of the company’s stock, valued at approximately $26,342,160.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Paul Goldberg sold 2,430 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $93.50, for a total transaction of $227,205.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,276 shares of company stock valued at $6,234,042. Insiders own 2.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Dover by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 16,549,433 shares of the industrial products company’s stock valued at $1,327,596,000 after buying an additional 370,572 shares in the last quarter. BlackRock Inc. raised its position in shares of Dover by 3.9% during the 2nd quarter. BlackRock Inc. now owns 10,314,301 shares of the industrial products company’s stock valued at $827,412,000 after buying an additional 389,449 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Dover by 17.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,810,306 shares of the industrial products company’s stock valued at $531,702,000 after buying an additional 848,098 shares in the last quarter. Pzena Investment Management LLC raised its position in shares of Dover by 0.3% during the 3rd quarter. Pzena Investment Management LLC now owns 5,613,811 shares of the industrial products company’s stock valued at $513,046,000 after buying an additional 14,504 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Dover by 2.3% during the 3rd quarter. Wells Fargo & Company MN now owns 3,205,690 shares of the industrial products company’s stock valued at $292,968,000 after buying an additional 73,375 shares in the last quarter. Hedge funds and other institutional investors own 84.49% of the company’s stock.

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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.

Analyst Recommendations for Dover (NYSE:DOV)

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