Dover (NYSE:DOV) had its price objective cut by Barclays from $94.00 to $88.00 in a report released on Monday. The firm currently has an “overweight” rating on the industrial products company’s stock. Barclays’ price objective indicates a potential upside of 20.71% from the stock’s current price.

Several other equities research analysts have also recently weighed in on DOV. JPMorgan Chase & Co. cut Dover from an “overweight” rating to a “neutral” rating in a research report on Monday, March 26th. Stifel Nicolaus decreased their price target on Dover from $115.00 to $102.00 and set a “hold” rating on the stock in a research report on Monday, April 16th. Zacks Investment Research cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Tuesday, April 17th. BMO Capital Markets decreased their price objective on shares of Dover from $118.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, April 30th. Finally, Citigroup decreased their price objective on shares of Dover from $115.00 to $105.00 and set a “neutral” rating on the stock in a research report on Monday, April 30th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $102.00.

Shares of DOV opened at $72.90 on Monday. Dover has a twelve month low of $66.18 and a twelve month high of $88.11. The stock has a market cap of $11.28 billion, a PE ratio of 18.09, a P/E/G ratio of 1.17 and a beta of 1.30. The company has a current ratio of 1.42, a quick ratio of 0.95 and a debt-to-equity ratio of 0.68.

Dover (NYSE:DOV) last announced its quarterly earnings results on Friday, April 27th. The industrial products company reported $1.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.03. Dover had a return on equity of 16.48% and a net margin of 9.71%. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the prior year, the business posted $1.09 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. sell-side analysts predict that Dover will post 4.81 earnings per share for the current fiscal year.

In other Dover news, Director Mary A. Winston sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $78.86, for a total value of $197,150.00. Following the completion of the sale, the director now owns 15,055 shares of the company’s stock, valued at $1,187,237.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jay L. Kloosterboer sold 14,745 shares of the company’s stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $78.67, for a total value of $1,159,989.15. Following the completion of the sale, the senior vice president now directly owns 23,096 shares of the company’s stock, valued at approximately $1,816,962.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,245 shares of company stock valued at $2,873,739. 2.60% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of Dover by 1.3% during the first quarter. BlackRock Inc. now owns 10,252,508 shares of the industrial products company’s stock valued at $1,007,002,000 after purchasing an additional 135,700 shares during the period. Boston Partners purchased a new stake in shares of Dover during the first quarter valued at approximately $239,625,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Dover by 3.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 625,083 shares of the industrial products company’s stock valued at $61,396,000 after purchasing an additional 19,270 shares during the period. State of Wisconsin Investment Board boosted its stake in shares of Dover by 13.2% during the first quarter. State of Wisconsin Investment Board now owns 564,222 shares of the industrial products company’s stock valued at $55,418,000 after purchasing an additional 65,746 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Dover by 20.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 529,139 shares of the industrial products company’s stock valued at $51,972,000 after purchasing an additional 91,602 shares during the period. 85.59% 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 four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of fuels for drilling and production, bearings and compression, and automation end markets.

Analyst Recommendations for Dover (NYSE:DOV)

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