Dover (NYSE:DOV) had its price objective upped by equities researchers at Bank of America from $95.00 to $105.00 in a research report issued to clients and investors on Wednesday. The firm currently has a “buy” rating on the industrial products company’s stock. Bank of America’s price objective suggests a potential upside of 18.00% from the company’s current price.
Several other research analysts also recently weighed in on DOV. BMO Capital Markets decreased their target price on shares of Dover to $98.00 and set a “positive” rating for the company in a research note on Monday, June 18th. William Blair reaffirmed a “market perform” rating on shares of Dover in a report on Tuesday, July 3rd. Barclays cut their price target on shares of Dover from $94.00 to $88.00 and set an “overweight” rating on the stock in a report on Monday, July 9th. Citigroup cut their price target on shares of Dover from $86.00 to $84.00 and set a “neutral” rating on the stock in a report on Wednesday, July 11th. Finally, MED began coverage on shares of Dover in a report on Thursday, July 12th. They issued a “hold” rating and a $79.00 price target on the stock. Thirteen research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $92.77.
Shares of DOV stock opened at $88.98 on Wednesday. The firm has a market capitalization of $13.12 billion, a PE ratio of 22.12, a PEG ratio of 1.54 and a beta of 1.36. The company has a quick ratio of 0.93, a current ratio of 1.35 and a debt-to-equity ratio of 1.05. Dover has a twelve month low of $70.12 and a twelve month high of $90.26.
Dover (NYSE:DOV) last announced its earnings results on Thursday, July 19th. The industrial products company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.09. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.78 billion. Dover had a net margin of 9.64% and a return on equity of 18.66%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.04 earnings per share. research analysts predict that Dover will post 4.82 EPS for the current year.
In related news, Director Kristiane C. Graham sold 50,000 shares of the company’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $82.75, for a total value of $4,137,500.00. Following the sale, the director now directly owns 367,324 shares of the company’s stock, valued at $30,396,061. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.50% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of DOV. Boston Partners raised its holdings in shares of Dover by 110.3% during the second quarter. Boston Partners now owns 5,131,152 shares of the industrial products company’s stock worth $375,601,000 after purchasing an additional 2,691,480 shares during the period. Bank of America Corp DE raised its holdings in shares of Dover by 15.9% during the second quarter. Bank of America Corp DE now owns 5,304,419 shares of the industrial products company’s stock worth $388,283,000 after purchasing an additional 726,930 shares during the period. Cornerstone Wealth Management LLC raised its holdings in shares of Dover by 7,946.7% during the second quarter. Cornerstone Wealth Management LLC now owns 319,697 shares of the industrial products company’s stock worth $4,384,000 after purchasing an additional 315,724 shares during the period. Schroder Investment Management Group raised its holdings in shares of Dover by 80.2% during the second quarter. Schroder Investment Management Group now owns 699,811 shares of the industrial products company’s stock worth $50,925,000 after purchasing an additional 311,500 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Dover by 15.2% during the second quarter. Northern Trust Corp now owns 2,323,795 shares of the industrial products company’s stock worth $170,101,000 after purchasing an additional 306,116 shares during the period. 90.69% of the stock is currently owned by hedge funds and other institutional investors.
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in 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 clamps, 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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