Dover (NYSE:DOV) Upgraded by Wolfe Research to Outperform Rating

Wolfe Research upgraded shares of Dover (NYSE:DOV) from a peer perform rating to an outperform rating in a research note published on Monday, Marketbeat Ratings reports. The brokerage currently has $227.00 target price on the industrial products company’s stock.

A number of other research firms have also recently commented on DOV. JPMorgan Chase & Co. upped their price objective on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Wells Fargo & Company upped their price target on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Mizuho raised their price objective on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Barclays upped their target price on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada increased their target price on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $207.44.

Dover Price Performance

Shares of DOV stock opened at $189.31 on Monday. The firm’s 50-day moving average is $187.62 and its two-hundred day moving average is $182.68. Dover has a 12 month low of $127.25 and a 12 month high of $195.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. The company has a market capitalization of $25.97 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 2.20 and a beta of 1.22.

Insider Buying and Selling

In other news, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the sale, the chief executive officer now directly owns 182,928 shares in the company, valued at approximately $33,285,578.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the transaction, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the completion of the sale, the chief executive officer now owns 182,928 shares in the company, valued at $33,285,578.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,042 shares of company stock valued at $7,368,578 in the last ninety days. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Dover

Several large investors have recently bought and sold shares of the business. Valmark Advisers Inc. raised its holdings in Dover by 1.6% during the second quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock worth $715,000 after purchasing an additional 63 shares in the last quarter. Mather Group LLC. lifted its position in Dover by 2.3% in the second quarter. Mather Group LLC. now owns 3,145 shares of the industrial products company’s stock valued at $557,000 after acquiring an additional 71 shares during the last quarter. PFG Investments LLC boosted its stake in Dover by 3.9% in the second quarter. PFG Investments LLC now owns 1,951 shares of the industrial products company’s stock valued at $352,000 after acquiring an additional 74 shares in the last quarter. Bill Few Associates Inc. grew its holdings in shares of Dover by 3.6% during the third quarter. Bill Few Associates Inc. now owns 2,325 shares of the industrial products company’s stock worth $446,000 after purchasing an additional 80 shares during the last quarter. Finally, CX Institutional increased its position in shares of Dover by 1.7% during the second quarter. CX Institutional now owns 5,095 shares of the industrial products company’s stock worth $919,000 after purchasing an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Company Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.