Dover Corporation (DOV) Rating Increased to Overweight at J P Morgan Chase & Co
Dover Corporation (NYSE:DOV) was upgraded by equities researchers at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating in a note issued to investors on Wednesday. The brokerage currently has a $105.00 price target on the industrial products company’s stock, up from their prior price target of $80.00. J P Morgan Chase & Co’s price objective would indicate a potential upside of 14.08% from the stock’s current price.
Several other brokerages also recently issued reports on DOV. Robert W. Baird set a $91.00 price target on Dover Corporation and gave the stock a “buy” rating in a report on Thursday, August 24th. BMO Capital Markets restated a “buy” rating and issued a $94.00 price target on shares of Dover Corporation in a report on Sunday, August 27th. Zacks Investment Research upgraded Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a report on Tuesday, July 18th. Citigroup Inc. increased their price target on Dover Corporation from $88.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $91.00 price target on shares of Dover Corporation in a report on Wednesday, September 6th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $91.15.
Dover Corporation (NYSE:DOV) traded down 0.03% during trading on Wednesday, hitting $92.01. The company had a trading volume of 50,003 shares. The company has a market capitalization of $14.33 billion, a price-to-earnings ratio of 23.00 and a beta of 1.26. Dover Corporation has a 12-month low of $65.50 and a 12-month high of $92.49. The firm has a 50-day moving average of $86.06 and a 200 day moving average of $82.19.
Dover Corporation (NYSE:DOV) last released its quarterly earnings data on Thursday, July 20th. The industrial products company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.94 billion. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The firm’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.76 earnings per share. On average, equities research analysts forecast that Dover Corporation will post $4.29 earnings per share for the current year.
In related news, Director Michael B. Stubbs sold 25,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the completion of the transaction, the director now directly owns 275,344 shares of the company’s stock, valued at $23,965,941.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. IFP Advisors Inc boosted its position in Dover Corporation by 15.1% during the second quarter. IFP Advisors Inc now owns 1,728 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 227 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Dover Corporation by 5,446.9% during the first quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock valued at $143,000 after purchasing an additional 1,743 shares during the last quarter. Penserra Capital Management LLC boosted its position in Dover Corporation by 9.5% during the first quarter. Penserra Capital Management LLC now owns 1,978 shares of the industrial products company’s stock valued at $158,000 after purchasing an additional 172 shares during the last quarter. First Mercantile Trust Co. boosted its position in Dover Corporation by 10.1% during the second quarter. First Mercantile Trust Co. now owns 2,327 shares of the industrial products company’s stock valued at $187,000 after purchasing an additional 213 shares during the last quarter. Finally, Dixon Hubard Feinour & Brown Inc. VA acquired a new position in Dover Corporation during the first quarter valued at approximately $200,000. 86.01% of the stock is owned by hedge funds and other institutional investors.
Dover Corporation Company Profile
Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.
Receive News & Ratings for Dover Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover Corporation and related companies with MarketBeat.com's FREE daily email newsletter.