UBS Group Upgrades Dover (NYSE:DOV) to “Strong-Buy”

Dover (NYSE:DOV) was upgraded by equities researchers at UBS Group from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Sunday, Marketbeat Ratings reports. The brokerage currently has a $256.00 target price on the industrial products company’s stock, up from their prior target price of $200.00. UBS Group’s price target would suggest a potential upside of 26.41% from the company’s current price.

A number of other equities analysts also recently issued reports on DOV. JPMorgan Chase & Co. increased their price target on shares of Dover from $217.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Morgan Stanley increased their target price on shares of Dover from $185.00 to $195.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Robert W. Baird set a $235.00 price target on Dover in a research note on Friday, October 24th. Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dover in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.73.

Dover Stock Performance

NYSE DOV opened at $202.51 on Friday. The stock has a market capitalization of $27.77 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 1.36 and a beta of 1.31. The business’s 50 day moving average is $189.03 and its two-hundred day moving average is $181.32. Dover has a 12-month low of $143.04 and a 12-month high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%.The firm had revenue of $1.78 billion for the quarter. Research analysts expect that Dover will post 9.45 EPS for the current year.

Insider Transactions at Dover

In other Dover news, CFO Christopher B. Woenker sold 1,627 shares of Dover stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $186.04, for a total value of $302,687.08. Following the completion of the sale, the chief financial officer directly owned 2,553 shares of the company’s stock, valued at approximately $474,960.12. The trade was a 38.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $190.80, for a total value of $501,804.00. Following the transaction, the senior vice president directly owned 72,968 shares in the company, valued at approximately $13,922,294.40. This represents a 3.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Dover

Several institutional investors have recently added to or reduced their stakes in DOV. First Trust Advisors LP raised its stake in shares of Dover by 717.4% in the 2nd quarter. First Trust Advisors LP now owns 1,716,256 shares of the industrial products company’s stock valued at $314,470,000 after acquiring an additional 1,506,288 shares during the period. Norges Bank purchased a new stake in Dover during the 2nd quarter worth $274,135,000. AQR Capital Management LLC increased its holdings in Dover by 912.9% in the 2nd quarter. AQR Capital Management LLC now owns 789,409 shares of the industrial products company’s stock valued at $144,572,000 after purchasing an additional 711,471 shares in the last quarter. Qube Research & Technologies Ltd raised its position in Dover by 65.2% in the third quarter. Qube Research & Technologies Ltd now owns 1,317,787 shares of the industrial products company’s stock valued at $219,846,000 after purchasing an additional 520,211 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Dover by 133.6% during the third quarter. Assenagon Asset Management S.A. now owns 656,349 shares of the industrial products company’s stock worth $109,499,000 after purchasing an additional 375,333 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.