Royal Bank of Canada reaffirmed their hold rating on shares of Dover (NYSE:DOV) in a research note published on Wednesday. The firm currently has a $105.00 price objective on the industrial products company’s stock.
A number of other equities analysts have also recently issued reports on DOV. Morgan Stanley upped their price objective on shares of Dover from $95.00 to $97.00 and gave the stock an overweight rating in a research report on Tuesday, September 19th. JPMorgan Chase & Co. upgraded shares of Dover from a neutral rating to an overweight rating and upped their price objective for the stock from $80.00 to $105.00 in a research report on Wednesday, September 20th. Citigroup reiterated a neutral rating and set a $96.00 price objective (up from $90.00) on shares of Dover in a research report on Monday, October 9th. SunTrust Banks reiterated a hold rating and set a $90.00 price objective on shares of Dover in a research report on Thursday, October 12th. Finally, Stifel Nicolaus reiterated a hold rating and set a $92.00 price objective on shares of Dover in a research report on Tuesday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Dover currently has a consensus rating of Hold and a consensus price target of $98.75.
Dover (NYSE DOV) traded up $0.42 during mid-day trading on Wednesday, reaching $104.41. 1,229,918 shares of the company were exchanged, compared to its average volume of 626,705. The firm has a market cap of $16,266.14, a PE ratio of 28.92, a price-to-earnings-growth ratio of 1.75 and a beta of 1.29. Dover has a twelve month low of $75.51 and a twelve month high of $104.95. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.87 and a current ratio of 1.32.
In other Dover news, VP William T. Bosway sold 6,087 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $94.66, for a total transaction of $576,195.42. Following the sale, the vice president now directly owns 21,877 shares of the company’s stock, valued at approximately $2,070,876.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul Goldberg sold 4,400 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $95.25, for a total transaction of $419,100.00. Following the completion of the sale, the vice president now directly owns 4,070 shares in the company, valued at $387,667.50. The disclosure for this sale can be found here. Insiders have sold a total of 65,276 shares of company stock worth $6,234,042 over the last three months. Insiders own 2.50% of the company’s stock.
Several large investors have recently bought and sold shares of DOV. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Dover by 388.2% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the industrial products company’s stock valued at $155,000 after purchasing an additional 1,347 shares during the last quarter. Cape Cod Five Cents Savings Bank bought a new stake in shares of Dover in the 3rd quarter valued at $201,000. NBT Bank N A NY bought a new stake in shares of Dover in the 3rd quarter valued at $202,000. South State Corp bought a new stake in shares of Dover in the 3rd quarter valued at $208,000. Finally, Folger Nolan Fleming Douglas Capital Management Inc. bought a new stake in shares of Dover in the 3rd quarter valued at $209,000. 84.49% of the stock is currently owned by institutional investors.
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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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