Dover (NYSE:DOV) Upgraded by UBS Group to Strong-Buy Rating

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

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company reaffirmed a “positive” rating on shares of Dover in a research note on Monday, December 15th. Royal Bank Of Canada raised their price target on shares of Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a report on Friday, October 24th. Morgan Stanley boosted their price target on shares of Dover from $185.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. Wall Street Zen downgraded shares of Dover from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Dover in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $215.73.

Dover Stock Performance

Dover stock opened at $202.51 on Friday. The stock’s 50-day moving average is $189.03 and its 200-day moving average is $181.32. Dover has a 12 month low of $143.04 and a 12 month high of $222.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44. The company has a market cap of $27.77 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 1.36 and a beta of 1.31.

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

Insider Buying and Selling at Dover

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

Hedge Funds Weigh In On Dover

A number of institutional investors have recently made changes to their positions in DOV. Machina Capital S.A.S. increased its position in shares of Dover by 38.8% in the 2nd quarter. Machina Capital S.A.S. now owns 8,779 shares of the industrial products company’s stock valued at $1,609,000 after acquiring an additional 2,452 shares during the period. Nordea Investment Management AB lifted its stake in shares of Dover by 9.3% in the second quarter. Nordea Investment Management AB now owns 124,031 shares of the industrial products company’s stock worth $22,701,000 after buying an additional 10,581 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Dover by 1,034.4% in the first quarter. Acadian Asset Management LLC now owns 34,237 shares of the industrial products company’s stock valued at $6,012,000 after acquiring an additional 31,219 shares during the last quarter. Advisory Resource Group increased its position in shares of Dover by 7.7% during the 2nd quarter. Advisory Resource Group now owns 28,732 shares of the industrial products company’s stock worth $5,264,000 after purchasing an additional 2,047 shares during the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of Dover in the 1st quarter valued at approximately $1,130,000. Institutional investors own 84.46% of the company’s stock.

Dover Company Profile

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.