Dover (NYSE:DOV) Given a $96.00 Price Target at Royal Bank of Canada
Royal Bank of Canada set a $96.00 price objective on Dover (NYSE:DOV) in a research note issued to investors on Friday morning, TipRanks reports. The firm currently has a hold rating on the industrial products company’s stock.
Several other brokerages have also recently weighed in on DOV. Robert W. Baird boosted their target price on Dover from $105.00 to $110.00 and gave the stock a neutral rating in a report on Friday. Citigroup boosted their target price on Dover from $113.00 to $115.00 and gave the stock a buy rating in a report on Friday. ValuEngine cut Dover from a hold rating to a sell rating in a report on Thursday, October 10th. Barclays boosted their target price on Dover from $112.00 to $116.00 and gave the stock an overweight rating in a report on Friday. Finally, Morgan Stanley boosted their target price on Dover from $103.00 to $109.00 and gave the stock an equal weight rating in a report on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Dover has a consensus rating of Hold and a consensus price target of $101.64.
Shares of Dover stock traded up $0.84 on Friday, hitting $102.22. 1,782,834 shares of the company were exchanged, compared to its average volume of 865,107. The stock has a market capitalization of $14.74 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The company has a 50-day moving average price of $96.79 and a 200 day moving average price of $95.95. Dover has a 1-year low of $65.83 and a 1-year high of $104.44. The company has a quick ratio of 0.91, a current ratio of 1.34 and a debt-to-equity ratio of 1.00.
In related news, VP William Spurgeon sold 20,049 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $98.42, for a total value of $1,973,222.58. Following the transaction, the vice president now directly owns 5,296 shares in the company, valued at $521,232.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jay L. Kloosterboer sold 15,416 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $98.00, for a total value of $1,510,768.00. Following the completion of the transaction, the insider now owns 24,425 shares in the company, valued at $2,393,650. The disclosure for this sale can be found here. Insiders sold 45,383 shares of company stock worth $4,385,834 over the last quarter. 1.70% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Shamrock Asset Management LLC purchased a new stake in Dover in the second quarter valued at approximately $26,000. Coastal Investment Advisors Inc. raised its position in Dover by 154.4% in the second quarter. Coastal Investment Advisors Inc. now owns 262 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 159 shares during the period. Krane Funds Advisors LLC purchased a new stake in Dover in the second quarter valued at approximately $26,000. Motco purchased a new stake in Dover in the second quarter valued at approximately $28,000. Finally, NuWave Investment Management LLC raised its position in Dover by 229.1% in the second quarter. NuWave Investment Management LLC now owns 283 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 197 shares during the period. 85.99% of the stock is currently owned by institutional investors.
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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