UBS Group Upgrades Dover (NYSE:DOV) to Strong-Buy

Dover (NYSE:DOV) was upgraded by research analysts at UBS Group from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Sunday,Zacks.com reports.

Several other brokerages have also commented on DOV. BNP Paribas initiated coverage on Dover in a research note on Thursday, December 4th. They set a “neutral” rating and a $195.00 price target on the stock. Barclays upped their target price on Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Friday, October 24th. Wall Street Zen downgraded shares of Dover from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Oppenheimer raised their target price on Dover from $225.00 to $228.00 and gave the company an “outperform” rating in a report on Friday, November 14th. Finally, Wells Fargo & Company restated a “positive” rating on shares of Dover in a research report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $215.73.

Dover Stock Up 3.5%

Shares of NYSE DOV opened at $202.51 on Friday. The business has a 50-day simple moving average of $189.03 and a two-hundred day simple moving average of $181.32. The company has a quick ratio of 1.44, a current ratio of 2.04 and a debt-to-equity ratio of 0.35. Dover has a 52 week low of $143.04 and a 52 week high of $222.31. The company has a market cap of $27.77 billion, a P/E ratio of 12.45, a P/E/G ratio of 1.36 and a beta of 1.31.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%.The business had revenue of $1.78 billion for the quarter. Research analysts anticipate that Dover will post 9.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Christopher B. Woenker sold 1,627 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $186.04, for a total transaction of $302,687.08. Following the completion of the transaction, the chief financial officer directly owned 2,553 shares in the company, valued at $474,960.12. The trade was a 38.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the firm’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total value of $501,804.00. Following the completion of the sale, the senior vice president owned 72,968 shares of the company’s stock, valued at approximately $13,922,294.40. This trade represents a 3.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Dover

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Life Planners bought a new position in Dover during the 3rd quarter worth approximately $25,000. AdvisorShares Investments LLC purchased a new stake in Dover during the 2nd quarter worth about $30,000. Vermillion & White Wealth Management Group LLC boosted its position in shares of Dover by 122.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 93 shares during the period. Caldwell Trust Co bought a new position in shares of Dover during the second quarter valued at approximately $31,000. Finally, Harbour Investments Inc. increased its stake in Dover by 51.7% during the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 60 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

About Dover

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.