Dover (NYSE:DOV) Downgraded by ValuEngine

Dover (NYSE:DOV) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Thursday, ValuEngine reports.

A number of other brokerages have also recently weighed in on DOV. Morgan Stanley boosted their price objective on shares of Dover from $97.00 to $101.00 and gave the stock an “equal weight” rating in a research note on Monday, April 22nd. Royal Bank of Canada set a $94.00 price objective on shares of Dover and gave the stock a “hold” rating in a research note on Friday, July 19th. Citigroup set a $114.00 price objective on shares of Dover and gave the stock a “buy” rating in a research note on Friday, July 19th. Robert W. Baird cut shares of Dover from an “outperform” rating to a “neutral” rating in a research note on Monday, April 22nd. Finally, Barclays boosted their price objective on shares of Dover from $111.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Dover has a consensus rating of “Hold” and a consensus price target of $98.76.

NYSE DOV traded down $2.46 during trading on Thursday, reaching $94.39. The company’s stock had a trading volume of 1,101,134 shares, compared to its average volume of 1,018,848. The company has a quick ratio of 0.91, a current ratio of 1.34 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $13.75 billion, a PE ratio of 18.99, a PEG ratio of 1.44 and a beta of 1.49. The stock has a 50-day simple moving average of $98.65. Dover has a 1-year low of $65.83 and a 1-year high of $103.47.

Dover (NYSE:DOV) last posted its earnings results on Thursday, July 18th. The industrial products company reported $1.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.01. Dover had a net margin of 8.50% and a return on equity of 29.22%. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the company earned $1.30 earnings per share. The company’s revenue was up 4.6% compared to the same quarter last year. On average, sell-side analysts expect that Dover will post 5.84 earnings per share for the current year.

In related news, VP William Spurgeon sold 20,049 shares of the business’s stock in a transaction on 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 transaction, the vice president now owns 5,296 shares of the company’s stock, valued at $521,232.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jay L. Kloosterboer sold 15,416 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $98.00, for a total transaction of $1,510,768.00. Following the transaction, the insider now directly owns 24,425 shares in the company, valued at approximately $2,393,650. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in DOV. Coastal Investment Advisors Inc. increased its position in Dover by 154.4% during the second quarter. Coastal Investment Advisors Inc. now owns 262 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 159 shares during the period. Pinnacle Bank bought a new stake in Dover in the 4th quarter valued at $28,000. NuWave Investment Management LLC increased its holdings in Dover by 229.1% in the 2nd quarter. NuWave Investment Management LLC now owns 283 shares of the industrial products company’s stock valued at $28,000 after buying an additional 197 shares during the period. Country Trust Bank bought a new stake in Dover in the 2nd quarter valued at $30,000. Finally, CWM LLC increased its holdings in Dover by 378.6% in the 1st quarter. CWM LLC now owns 493 shares of the industrial products company’s stock valued at $46,000 after buying an additional 390 shares during the period. 84.87% of the stock is currently owned by institutional investors and hedge funds.

Dover Company Profile

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.

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Analyst Recommendations for Dover (NYSE:DOV)

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