Dover Corporation’s (DOV) “Buy” Rating Reaffirmed at BMO Capital Markets

Dover Corporation (NYSE:DOV)‘s stock had its “buy” rating restated by BMO Capital Markets in a research report issued on Sunday, August 27th. They presently have a $94.00 price objective on the industrial products company’s stock. BMO Capital Markets’ price target would suggest a potential upside of 6.89% from the company’s previous close.

A number of other analysts also recently issued reports on DOV. Zacks Investment Research downgraded shares of Dover Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. BidaskClub downgraded shares of Dover Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Dover Corporation in a research report on Wednesday, June 7th. Seaport Global Securities reaffirmed a “buy” rating on shares of Dover Corporation in a research report on Monday, June 5th. Finally, Citigroup Inc. increased their price objective on shares of Dover Corporation from $88.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $89.08.

Dover Corporation (DOV) opened at 87.94 on Friday. The stock has a market cap of $13.70 billion, a PE ratio of 21.99 and a beta of 1.26. The firm has a 50-day moving average price of $85.00 and a 200 day moving average price of $81.75. Dover Corporation has a 52-week low of $65.50 and a 52-week high of $88.34.

Dover Corporation (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.03. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.94 billion. Dover Corporation had a net margin of 8.61% and a return on equity of 13.36%. The business’s revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 EPS. On average, analysts forecast that Dover Corporation will post $4.31 earnings per share for the current fiscal year.

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In other news, Director Michael B. Stubbs sold 25,000 shares of Dover Corporation stock in a transaction on Friday, August 4th. The shares were sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the completion of the sale, the director now directly owns 275,344 shares of the company’s stock, valued at approximately $23,965,941.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.50% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. First Bank & Trust raised its stake in Dover Corporation by 15.5% during the 1st quarter. First Bank & Trust now owns 1,326 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 178 shares in the last quarter. IFP Advisors Inc raised its stake in Dover Corporation by 15.1% during the 2nd quarter. IFP Advisors Inc now owns 1,728 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 227 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Dover Corporation by 5,446.9% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock worth $143,000 after acquiring an additional 1,743 shares in the last quarter. Penserra Capital Management LLC raised its stake in Dover Corporation by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 1,978 shares of the industrial products company’s stock worth $158,000 after acquiring an additional 172 shares in the last quarter. Finally, First Mercantile Trust Co. raised its stake in Dover Corporation by 16.8% during the 1st quarter. First Mercantile Trust Co. now owns 2,114 shares of the industrial products company’s stock worth $170,000 after acquiring an additional 304 shares in the last quarter. Hedge funds and other institutional investors own 86.06% of the company’s stock.

Dover Corporation Company Profile

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 Corporation (NYSE:DOV)




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