Stifel Nicolaus Reaffirms Hold Rating for Dover (DOV)

Dover (NYSE:DOV)‘s stock had its “hold” rating reiterated by analysts at Stifel Nicolaus in a research report issued to clients and investors on Tuesday, Marketbeat reports. They presently have a $112.00 price target on the industrial products company’s stock, up from their prior price target of $100.00. Stifel Nicolaus’ price target would indicate a potential upside of 7.34% from the company’s previous close.

Several other research analysts have also issued reports on the company. Royal Bank of Canada reaffirmed a “hold” rating and set a $100.00 target price on shares of Dover in a research report on Thursday, January 4th. ValuEngine lowered Dover from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research lowered Dover from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. SunTrust Banks reissued a “hold” rating and issued a $96.00 price objective on shares of Dover in a report on Monday, October 23rd. Finally, Citigroup reissued a “neutral” rating and issued a $96.00 price objective (up from $90.00) on shares of Dover in a report on Monday, October 9th. Thirteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Dover has an average rating of “Hold” and a consensus target price of $97.92.

Shares of Dover (NYSE:DOV) traded up $0.98 during trading hours on Tuesday, reaching $104.34. The company had a trading volume of 831,300 shares, compared to its average volume of 841,091. Dover has a 12 month low of $75.51 and a 12 month high of $104.91. The firm has a market cap of $16,102.57, a price-to-earnings ratio of 24.27, a P/E/G ratio of 1.77 and a beta of 1.29. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.70.

Dover (NYSE:DOV) last announced its earnings results on Thursday, October 19th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.05. Dover had a return on equity of 14.10% and a net margin of 8.91%. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period in the prior year, the company posted $0.83 EPS. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. equities analysts predict that Dover will post 3.94 earnings per share for the current fiscal year.

In related news, Director Michael B. Stubbs sold 8,495 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $96.30, for a total transaction of $818,068.50. Following the sale, the director now directly owns 275,344 shares of the company’s stock, valued at $26,515,627.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael B. Stubbs sold 41,505 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $95.67, for a total value of $3,970,783.35. Following the sale, the director now directly owns 275,344 shares in the company, valued at $26,342,160.48. The disclosure for this sale can be found here. Insiders sold 65,276 shares of company stock worth $6,234,042 over the last three months. Corporate insiders own 2.50% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. grew its holdings in Dover by 388.2% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the industrial products company’s stock worth $155,000 after acquiring an additional 1,347 shares during the period. Cape Cod Five Cents Savings Bank acquired a new stake in Dover during the third quarter worth about $201,000. NBT Bank N A NY acquired a new stake in Dover during the third quarter worth about $202,000. South State Corp acquired a new stake in Dover during the third quarter worth about $208,000. Finally, Folger Nolan Fleming Douglas Capital Management Inc. acquired a new stake in Dover during the third quarter worth about $209,000. 84.49% of the stock is currently owned by hedge funds and other institutional investors.

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Dover 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.

Analyst Recommendations for Dover (NYSE:DOV)

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