Dover (DOV) Given New $97.00 Price Target at Barclays

Dover (NYSE:DOV) had its price objective boosted by Barclays from $96.00 to $97.00 in a report published on Friday morning. The firm currently has an overweight rating on the industrial products company’s stock.

Several other research firms have also commented on DOV. Bank of America upped their price target on shares of Dover from $95.00 to $105.00 and gave the stock a buy rating in a research report on Wednesday, September 26th. Morgan Stanley lowered their price target on shares of Dover from $88.00 to $83.00 and set an overweight rating for the company in a research report on Friday, July 20th. Stifel Nicolaus upped their price target on shares of Dover from $85.00 to $92.00 and gave the stock a hold rating in a research report on Wednesday, September 12th. Gordon Haskett began coverage on shares of Dover in a research report on Friday, October 12th. They set a buy rating for the company. Finally, ValuEngine raised shares of Dover from a sell rating to a hold rating in a report on Saturday, August 18th. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Dover currently has an average rating of Hold and a consensus target price of $89.77.

Shares of Dover stock traded down $1.08 during trading on Friday, hitting $82.41. 2,154,304 shares of the stock were exchanged, compared to its average volume of 1,754,564. The firm has a market capitalization of $12.33 billion, a P/E ratio of 20.45, a P/E/G ratio of 1.43 and a beta of 1.34. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.93 and a current ratio of 1.35. Dover has a 12 month low of $70.12 and a 12 month high of $90.26.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, October 18th. The industrial products company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.29 by $0.07. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.76 billion. Dover had a net margin of 9.69% and a return on equity of 19.66%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 earnings per share. As a group, sell-side analysts forecast that Dover will post 4.85 earnings per share for the current year.

In related news, Director Kristiane C. Graham sold 50,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now 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 accessible through the SEC website. Corporate insiders own 2.50% of the company’s stock.

A number of hedge funds have recently bought and sold shares of DOV. Bfsg LLC purchased a new stake in Dover during the third quarter valued at about $477,000. Seven Eight Capital LP purchased a new stake in Dover during the third quarter valued at about $545,000. Aperio Group LLC lifted its stake in Dover by 6.5% during the third quarter. Aperio Group LLC now owns 109,714 shares of the industrial products company’s stock valued at $9,713,000 after buying an additional 6,659 shares in the last quarter. Monte Financial Group LLC lifted its stake in Dover by 3.9% during the third quarter. Monte Financial Group LLC now owns 32,393 shares of the industrial products company’s stock valued at $2,868,000 after buying an additional 1,217 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Dover by 14.3% during the third quarter. Nisa Investment Advisors LLC now owns 77,135 shares of the industrial products company’s stock valued at $6,829,000 after buying an additional 9,650 shares in the last quarter. 90.85% of the stock is owned by institutional investors and hedge funds.

Dover Company Profile

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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Analyst Recommendations for Dover (NYSE:DOV)

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