Dover (NYSE:DOV) Coverage Initiated at UBS Group

Equities researchers at UBS Group assumed coverage on shares of Dover (NYSE:DOV) in a research note issued on Wednesday, MarketBeat reports. The brokerage set a “neutral” rating and a $217.00 price target on the industrial products company’s stock. UBS Group’s price target points to a potential upside of 7.40% from the stock’s previous close.

A number of other research analysts also recently commented on DOV. JPMorgan Chase & Co. boosted their target price on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Mizuho increased their price objective on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Robert W. Baird reiterated an “outperform” rating and issued a $208.00 target price on shares of Dover in a research note on Monday, July 22nd. Wells Fargo & Company increased their price target on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Finally, Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.40.

Dover Stock Performance

Shares of DOV stock opened at $202.04 on Wednesday. The stock’s fifty day simple moving average is $191.02 and its 200-day simple moving average is $184.53. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $27.72 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 2.72 and a beta of 1.22. Dover has a 1-year low of $136.13 and a 1-year high of $204.93.

Insider Activity at Dover

In related news, CFO Brad M. Cerepak sold 14,818 shares of Dover stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the sale, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,156,700. This trade represents a 54.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard J. Tobin sold 25,004 shares of the company’s stock in a transaction that occurred on 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. This trade represents a 12.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,042 shares of company stock worth $7,368,578 in the last 90 days. 1.30% of the stock is owned by company insiders.

Institutional Trading of Dover

Institutional investors and hedge funds have recently modified their holdings of the company. LRI Investments LLC bought a new stake in Dover in the first quarter valued at about $27,000. McClarren Financial Advisors Inc. grew its stake in shares of Dover by 4,400.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 176 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Dover in the 3rd quarter worth approximately $33,000. Fairscale Capital LLC bought a new position in shares of Dover during the 2nd quarter worth approximately $34,000. Finally, Transcendent Capital Group LLC boosted its stake in Dover by 208.0% in the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after buying an additional 156 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

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.