Dover (NYSE:DOV) Upgraded at StockNews.com

StockNews.com upgraded shares of Dover (NYSE:DOV) from a hold rating to a buy rating in a research report released on Tuesday morning.

DOV has been the subject of several other research reports. Barclays upped their price objective on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. 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. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 target price (up from $210.00) on shares of Dover in a report on Wednesday, October 16th. Wells Fargo & Company upped their target price on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada upped their target price on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $208.40.

Dover Trading Down 0.5 %

Shares of Dover stock opened at $201.18 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The firm has a market cap of $27.60 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 2.74 and a beta of 1.22. The business has a fifty day simple moving average of $191.53 and a 200-day simple moving average of $184.67. Dover has a fifty-two week low of $136.50 and a fifty-two week high of $204.93.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s payout ratio is 18.43%.

Insiders Place Their Bets

In other news, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the transaction, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. This represents a 12.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,156,700. This represents a 54.59 % decrease in their position. 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 three months. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. LRI Investments LLC acquired a new position in shares of Dover during the 1st quarter valued at about $27,000. McClarren Financial Advisors Inc. increased its holdings in shares of Dover by 4,400.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 176 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Dover during the 3rd quarter valued at approximately $33,000. Fairscale Capital LLC bought a new stake in Dover during the 2nd quarter valued at approximately $34,000. Finally, Transcendent Capital Group LLC boosted its stake in Dover by 208.0% during the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 156 shares during the period. 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.