Dover (NYSE:DOV) Lowered to Sell at ValuEngine

Dover (NYSE:DOV) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Thursday, ValuEngine reports.

DOV has been the subject of several other research reports. Royal Bank of Canada upped their target price on Dover to $97.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 11th. Citigroup upped their target price on Dover from $113.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. upped their target price on Dover from $82.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday. Robert W. Baird upped their target price on Dover from $100.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. Finally, Barclays upped their target price on Dover from $111.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. Dover currently has a consensus rating of “Hold” and a consensus price target of $99.12.

Shares of DOV opened at $97.36 on Thursday. The firm has a market cap of $13.58 billion, a P/E ratio of 19.59, a P/E/G ratio of 1.39 and a beta of 1.47. The stock has a 50 day simple moving average of $95.56 and a two-hundred day simple moving average of $95.75. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.34 and a quick ratio of 0.91. Dover has a 1 year low of $65.83 and a 1 year high of $103.47.

Dover (NYSE:DOV) last issued its earnings results on Thursday, July 18th. The industrial products company reported $1.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.01. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.86 billion. Dover had a return on equity of 29.22% and a net margin of 8.50%. Dover’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.30 earnings per share. On average, equities analysts anticipate that Dover will post 5.83 earnings per share for the current year.

In other news, insider Jay L. Kloosterboer sold 15,416 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $98.00, for a total transaction of $1,510,768.00. Following the completion of the sale, the insider now owns 24,425 shares of the company’s stock, valued at $2,393,650. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP William Spurgeon sold 20,049 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $98.42, for a total value of $1,973,222.58. Following the sale, the vice president now directly owns 5,296 shares of the company’s stock, valued at approximately $521,232.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,383 shares of company stock valued at $4,385,834. Insiders own 1.70% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Coastal Investment Advisors Inc. raised its holdings in shares of Dover by 154.4% during the second quarter. Coastal Investment Advisors Inc. now owns 262 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 159 shares in the last quarter. Shamrock Asset Management LLC bought a new position in shares of Dover during the second quarter valued at approximately $26,000. Krane Funds Advisors LLC bought a new position in shares of Dover during the second quarter valued at approximately $26,000. NuWave Investment Management LLC raised its holdings in shares of Dover by 229.1% during the second quarter. NuWave Investment Management LLC now owns 283 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 197 shares in the last quarter. Finally, Motco bought a new position in shares of Dover during the second quarter valued at approximately $28,000. 85.93% of the stock is owned by hedge funds and other institutional investors.

About Dover

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through 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 and 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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