Dover (NYSE:DOV) Lowered to Sell at ValuEngine

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ValuEngine downgraded shares of Dover (NYSE:DOV) from a hold rating to a sell rating in a research note issued to investors on Thursday morning, ValuEngine reports.

Several other equities research analysts have also issued reports on the stock. Citigroup raised their target price on shares of Dover from $113.00 to $114.00 and gave the stock a buy rating in a report on Monday, September 9th. Barclays raised their target price on shares of Dover from $111.00 to $112.00 and gave the stock an overweight rating in a report on Friday, July 19th. JPMorgan Chase & Co. raised their target price on shares of Dover from $82.00 to $93.00 and gave the stock a neutral rating in a report on Thursday. Robert W. Baird raised their target price on shares of Dover from $100.00 to $105.00 and gave the stock a neutral rating in a report on Wednesday, September 11th. Finally, Royal Bank of Canada raised their target price on shares of Dover to $97.00 and gave the stock a sector perform rating in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $99.12.

Shares of Dover stock traded down $1.49 during trading on Thursday, hitting $95.87. The stock had a trading volume of 47,415 shares, compared to its average volume of 698,366. The firm’s fifty day simple moving average is $95.56 and its 200-day simple moving average is $95.75. The stock has a market cap of $13.80 billion, a PE ratio of 19.29, a PEG ratio of 1.42 and a beta of 1.47. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.34 and a quick ratio of 0.91. Dover has a 12 month low of $65.83 and a 12 month high of $103.47.

Dover (NYSE:DOV) last released its earnings results on Thursday, July 18th. The industrial products company reported $1.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.01. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.86 billion. Dover had a net margin of 8.50% and a return on equity of 29.22%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business earned $1.30 EPS. Analysts expect that Dover will post 5.83 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.49 per share. This is a positive change from Dover’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, August 29th. This represents a $1.96 dividend on an annualized basis and a yield of 2.04%. Dover’s dividend payout ratio (DPR) is presently 39.44%.

In other news, insider Brad M. Cerepak sold 9,918 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $90.93, for a total value of $901,843.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP William Spurgeon sold 20,049 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $98.42, for a total transaction of $1,973,222.58. Following the completion of the sale, the vice president now owns 5,296 shares of the company’s stock, valued at approximately $521,232.32. The disclosure for this sale can be found here. Insiders have sold a total of 45,383 shares of company stock valued at $4,385,834 in the last quarter. 1.70% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of DOV. LLBH Private Wealth Management LLC bought a new stake in shares of Dover in the 2nd quarter valued at about $65,000. Nuveen Asset Management LLC grew its position in shares of Dover by 50,089.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,981,474 shares of the industrial products company’s stock worth $198,544,000 after buying an additional 1,977,526 shares during the last quarter. APG Asset Management N.V. grew its position in shares of Dover by 180.3% in the 2nd quarter. APG Asset Management N.V. now owns 691,697 shares of the industrial products company’s stock worth $60,861,000 after buying an additional 444,913 shares during the last quarter. Prudential Financial Inc. grew its position in shares of Dover by 225.4% in the 2nd quarter. Prudential Financial Inc. now owns 551,949 shares of the industrial products company’s stock worth $55,305,000 after buying an additional 382,344 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Dover by 3.1% in the 2nd quarter. BlackRock Inc. now owns 12,354,483 shares of the industrial products company’s stock worth $1,237,921,000 after buying an additional 371,171 shares during the last quarter. Institutional investors and hedge funds own 85.99% of the company’s stock.

About Dover

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.

Further Reading: Market Capitalization and Individual Investors

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Dover (NYSE:DOV)

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