Dover (DOV) Rating Increased to Buy at UBS Group

Dover (NYSE:DOV) was upgraded by analysts at UBS Group from a “neutral” rating to a “buy” rating in a report released on Thursday, www.benzinga.com reports. The brokerage presently has a $76.35 price target on the industrial products company’s stock. UBS Group’s price objective points to a potential downside of 1.94% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. SunTrust Banks raised their target price on shares of Dover to $91.00 and gave the stock a “hold” rating in a report on Friday, October 19th. Oppenheimer reiterated a “hold” rating on shares of Dover in a report on Monday, October 22nd. Royal Bank of Canada lifted their price objective on shares of Dover to $86.00 and gave the company a “sector perform” rating in a report on Wednesday, September 12th. Barclays lifted their price objective on shares of Dover from $96.00 to $97.00 and gave the company an “overweight” rating in a report on Friday, October 19th. Finally, Morgan Stanley lowered shares of Dover from an “overweight” rating to an “equal” rating and decreased their price objective for the company from $94.00 to $89.00 in a report on Tuesday, December 18th. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Dover has an average rating of “Hold” and a consensus target price of $89.18.

Dover stock opened at $77.86 on Thursday. The stock has a market capitalization of $11.17 billion, a PE ratio of 19.32, a PEG ratio of 1.13 and a beta of 1.39. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.30 and a quick ratio of 0.88. Dover has a 12-month low of $65.83 and a 12-month high of $90.26.

Dover (NYSE:DOV) last released its earnings results on Thursday, October 18th. The industrial products company reported $1.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.07. The firm 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 21.22%. The business’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the business earned $1.14 EPS. Research analysts forecast that Dover will post 4.84 EPS for the current year.

In other news, Director Mary A. Winston sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 23rd. The shares were sold at an average price of $82.29, for a total value of $164,580.00. Following the completion of the sale, the director now owns 13,055 shares in the company, valued at approximately $1,074,295.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.60% of the company’s stock.

Several large investors have recently bought and sold shares of DOV. Ashler Capital LLC bought a new stake in shares of Dover in the 3rd quarter valued at about $44,080,000. Schroder Investment Management Group raised its holdings in shares of Dover by 80.2% in the 2nd quarter. Schroder Investment Management Group now owns 699,811 shares of the industrial products company’s stock valued at $50,925,000 after purchasing an additional 311,500 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Dover by 15.2% in the 2nd quarter. Northern Trust Corp now owns 2,323,795 shares of the industrial products company’s stock valued at $170,101,000 after purchasing an additional 306,116 shares in the last quarter. AXA raised its holdings in shares of Dover by 619.8% in the 3rd quarter. AXA now owns 337,137 shares of the industrial products company’s stock valued at $29,847,000 after purchasing an additional 290,300 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Dover by 3.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,827,415 shares of the industrial products company’s stock valued at $781,489,000 after purchasing an additional 288,630 shares in the last quarter. Institutional investors and hedge funds own 90.70% of the company’s stock.

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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