Dover (NYSE:DOV) Earns Market Perform Rating from Analysts at BMO Capital Markets

BMO Capital Markets began coverage on shares of Dover (NYSE:DOV) in a research note issued on Friday, Marketbeat Ratings reports. The brokerage set a “market perform” rating and a $237.00 price target on the industrial products company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 13.23% from the stock’s previous close.

Several other equities analysts have also recently issued reports on DOV. Royal Bank Of Canada lifted their price objective on shares of Dover from $199.00 to $209.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. The Goldman Sachs Group reissued a “buy” rating and set a $224.00 target price on shares of Dover in a research note on Saturday, January 31st. Oppenheimer lifted their price target on shares of Dover from $228.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. UBS Group set a $256.00 price target on Dover and gave the company a “buy” rating in a report on Sunday, January 4th. Finally, Wells Fargo & Company raised shares of Dover from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $210.00 to $230.00 in a research note on Tuesday, March 17th. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $226.54.

Dover Price Performance

Shares of NYSE DOV opened at $209.31 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.79 and a quick ratio of 1.28. The firm has a market capitalization of $28.21 billion, a PE ratio of 26.36, a P/E/G ratio of 1.65 and a beta of 1.27. Dover has a 1-year low of $143.04 and a 1-year high of $237.54. The business’s fifty day moving average price is $216.71 and its two-hundred day moving average price is $194.51.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Dover had a return on equity of 17.87% and a net margin of 13.52%.The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the previous year, the company posted $2.20 earnings per share. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, research analysts expect that Dover will post 9.45 EPS for the current year.

Insider Activity at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total transaction of $932,920.00. Following the transaction, the senior vice president directly owned 72,188 shares in the company, valued at $16,836,407.24. This trade represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard J. Tobin sold 76,997 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $232.70, for a total value of $17,917,201.90. Following the completion of the sale, the chief executive officer owned 217,979 shares of the company’s stock, valued at approximately $50,723,713.30. This trade represents a 26.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 82,497 shares of company stock valued at $19,196,277. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in Dover by 174.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,880,653 shares of the industrial products company’s stock worth $562,419,000 after purchasing an additional 1,830,722 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Dover by 179.7% in the 4th quarter. First Trust Advisors LP now owns 2,509,217 shares of the industrial products company’s stock worth $489,900,000 after buying an additional 1,612,159 shares in the last quarter. Norges Bank bought a new position in shares of Dover during the 2nd quarter worth approximately $274,135,000. Diamond Hill Capital Management Inc. acquired a new stake in Dover in the 4th quarter valued at $151,473,000. Finally, Auto Owners Insurance Co boosted its stake in Dover by 19,424.0% in the 4th quarter. Auto Owners Insurance Co now owns 761,436 shares of the industrial products company’s stock valued at $14,866,000 after buying an additional 757,536 shares in the last quarter. 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.