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

Dover (NYSE:DOV) was upgraded by equities research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, MarketBeat reports. The firm presently has a $227.00 price target on the industrial products company’s stock. Wolfe Research’s target price points to a potential upside of 18.33% from the company’s previous close.

DOV has been the topic of a number of other reports. Wells Fargo & Company lifted their price target on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Barclays lifted their target price on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Oppenheimer reiterated an “outperform” rating and issued a $215.00 target price (up previously from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Mizuho boosted their target price on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 price target on shares of Dover in a research note on Monday, July 22nd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $207.44.

Dover Stock Performance

Dover stock opened at $191.84 on Monday. The company has a market cap of $26.36 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 2.20 and a beta of 1.22. 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 stock’s 50-day moving average is $187.25 and its 200-day moving average is $182.56.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DOV. Price T Rowe Associates Inc. MD increased its stake in Dover by 153.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock valued at $466,622,000 after buying an additional 1,595,611 shares during the period. American Century Companies Inc. boosted its stake in Dover by 162.2% during the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock valued at $124,195,000 after buying an additional 425,768 shares in the last quarter. Interval Partners LP grew its holdings in Dover by 110.0% during the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock worth $105,216,000 after acquiring an additional 305,436 shares during the period. Kimelman & Baird LLC bought a new stake in Dover in the second quarter worth about $17,323,000. Finally, Earnest Partners LLC boosted its position in shares of Dover by 31.5% during the 1st quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock valued at $70,370,000 after purchasing an additional 95,056 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

About Dover

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.