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.
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.
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