Dover (NYSE:DOV) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, ValuEngine reports.
DOV has been the subject of several other research reports. Barclays boosted their price target on Dover from $111.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Morgan Stanley boosted their price target on Dover from $97.00 to $101.00 and gave the company an “equal weight” rating in a research note on Monday, April 22nd. Royal Bank of Canada set a $94.00 target price on Dover and gave the stock a “hold” rating in a report on Friday, July 19th. Robert W. Baird lowered Dover from an “outperform” rating to a “neutral” rating in a report on Monday, April 22nd. Finally, Deutsche Bank set a $102.00 target price on Dover and gave the stock a “hold” rating in a report on Monday, April 22nd. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $98.76.
Shares of NYSE DOV traded down $1.64 during trading hours on Thursday, hitting $92.75. The stock had a trading volume of 879,710 shares, compared to its average volume of 954,193. The firm has a market capitalization of $13.49 billion, a P/E ratio of 18.66, a P/E/G ratio of 1.44 and a beta of 1.48. The company’s 50-day moving average price is $98.58. Dover has a 52 week low of $65.83 and a 52 week high of $103.47. The company has a quick ratio of 0.91, a current ratio of 1.34 and a debt-to-equity ratio of 1.00.
Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 18th. The industrial products company reported $1.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.55 by $0.01. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Dover had a return on equity of 29.22% and a net margin of 8.50%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.30 EPS. Equities research analysts anticipate that Dover will post 5.84 earnings per share for the current fiscal year.
In other news, insider Jay L. Kloosterboer sold 15,416 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $98.00, for a total transaction of $1,510,768.00. Following the completion of the transaction, the insider now directly owns 24,425 shares in the company, valued at $2,393,650. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP William Spurgeon sold 20,049 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $98.42, for a total value of $1,973,222.58. Following the transaction, the vice president now owns 5,296 shares of the company’s stock, valued at $521,232.32. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Coastal Investment Advisors Inc. lifted its holdings in shares of Dover by 154.4% during the second quarter. Coastal Investment Advisors Inc. now owns 262 shares of the industrial products company’s stock worth $26,000 after buying an additional 159 shares during the last quarter. NuWave Investment Management LLC lifted its holdings in shares of Dover by 229.1% during the second quarter. NuWave Investment Management LLC now owns 283 shares of the industrial products company’s stock worth $28,000 after buying an additional 197 shares during the last quarter. Country Trust Bank acquired a new position in shares of Dover during the second quarter worth approximately $30,000. Pinnacle Bank acquired a new position in shares of Dover during the fourth quarter worth approximately $28,000. Finally, CWM LLC lifted its holdings in shares of Dover by 378.6% during the first quarter. CWM LLC now owns 493 shares of the industrial products company’s stock worth $46,000 after buying an additional 390 shares during the last quarter. Institutional investors own 84.87% of the company’s stock.
Dover Company Profile
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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