J P Morgan Chase & Co upgraded shares of Dover Corporation (NYSE:DOV) from a neutral rating to an overweight rating in a report released on Wednesday, Marketbeat Ratings reports. J P Morgan Chase & Co currently has $105.00 price target on the industrial products company’s stock, up from their prior price target of $80.00.

A number of other equities research analysts also recently commented on the company. Morgan Stanley boosted their target price on Dover Corporation from $95.00 to $97.00 and gave the stock an overweight rating in a research report on Tuesday, September 19th. Seaport Global Securities reiterated a neutral rating on shares of Dover Corporation in a research report on Wednesday, September 13th. Robert W. Baird reiterated a buy rating and issued a $95.00 target price on shares of Dover Corporation in a research report on Tuesday, September 12th. Royal Bank Of Canada reiterated a hold rating and issued a $91.00 target price on shares of Dover Corporation in a research report on Wednesday, September 6th. Finally, BMO Capital Markets reiterated a buy rating and issued a $94.00 target price on shares of Dover Corporation in a research report on Sunday, August 27th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $91.15.

Dover Corporation (DOV) opened at 92.43 on Wednesday. The stock has a market capitalization of $14.39 billion, a PE ratio of 23.11 and a beta of 1.26. The company’s 50 day moving average price is $86.06 and its 200-day moving average price is $82.19. Dover Corporation has a one year low of $65.50 and a one year high of $92.55.

Dover Corporation (NYSE:DOV) last posted its earnings results on Thursday, July 20th. The industrial products company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.94 billion. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.76 earnings per share. Analysts expect that Dover Corporation will post $4.29 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were paid a dividend of $0.47 per share. This is a boost from Dover Corporation’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.03%. Dover Corporation’s dividend payout ratio is currently 47.12%.

In other news, Director Michael B. Stubbs sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the transaction, the director now owns 275,344 shares of the company’s stock, valued at $23,965,941.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.50% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DOV. BlackRock Inc. grew its stake in shares of Dover Corporation by 1,664.3% during the first quarter. BlackRock Inc. now owns 9,924,852 shares of the industrial products company’s stock valued at $797,462,000 after buying an additional 9,362,330 shares during the last quarter. Cramer Rosenthal Mcglynn LLC grew its stake in shares of Dover Corporation by 132.6% during the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,797,775 shares of the industrial products company’s stock valued at $144,218,000 after buying an additional 1,024,890 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Dover Corporation by 108.3% during the second quarter. Bessemer Group Inc. now owns 1,598,035 shares of the industrial products company’s stock valued at $128,193,000 after buying an additional 830,946 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Dover Corporation by 5.2% during the first quarter. Vanguard Group Inc. now owns 16,178,861 shares of the industrial products company’s stock valued at $1,299,971,000 after buying an additional 792,862 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Dover Corporation by 9.4% during the first quarter. Bank of America Corp DE now owns 6,446,209 shares of the industrial products company’s stock valued at $517,953,000 after buying an additional 553,136 shares during the last quarter. 86.01% of the stock is currently owned by hedge funds and other institutional investors.

Dover Corporation 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 Corporation (NYSE:DOV)

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