BNP Paribas Upgrades Dover (NYSE:DOV) to Hold

Dover (NYSE:DOV) was upgraded by equities research analysts at BNP Paribas to a “hold” rating in a report released on Thursday,Zacks.com reports.

A number of other brokerages have also weighed in on DOV. Oppenheimer boosted their price target on Dover from $225.00 to $228.00 and gave the stock an “outperform” rating in a research note on Friday, November 14th. Robert W. Baird set a $235.00 target price on shares of Dover in a research report on Friday, October 24th. Wells Fargo & Company raised their price target on shares of Dover from $180.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, October 24th. Wall Street Zen downgraded shares of Dover from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, UBS Group set a $200.00 target price on Dover in a research report on Friday, October 24th. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $210.83.

Dover Stock Performance

Shares of DOV stock opened at $190.93 on Thursday. Dover has a 12-month low of $143.04 and a 12-month high of $222.31. The business’s fifty day simple moving average is $176.45 and its 200-day simple moving average is $178.53. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35. The company has a market cap of $26.19 billion, a PE ratio of 11.74, a PEG ratio of 1.48 and a beta of 1.31.

Dover (NYSE:DOV) last posted its quarterly earnings data 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 during the quarter. Analysts expect that Dover will post 9.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Ivonne M. Cabrera sold 2,630 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total transaction of $501,804.00. Following the completion of the transaction, the senior vice president directly owned 72,968 shares in the company, valued at $13,922,294.40. The trade was a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Christopher B. Woenker sold 1,627 shares of the stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $186.04, for a total value of $302,687.08. Following the sale, the chief financial officer directly owned 2,553 shares in the company, valued at $474,960.12. This represents a 38.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Dover by 1.4% in the second quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company’s stock worth $3,036,722,000 after acquiring an additional 231,146 shares during the last quarter. State Street Corp lifted its holdings in Dover by 1.3% in the 3rd quarter. State Street Corp now owns 6,533,361 shares of the industrial products company’s stock valued at $1,089,961,000 after purchasing an additional 86,212 shares in the last quarter. Geode Capital Management LLC boosted its stake in Dover by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 3,453,121 shares of the industrial products company’s stock worth $629,996,000 after purchasing an additional 33,539 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Dover during the first quarter worth $526,081,000. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of Dover by 10.6% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,376,279 shares of the industrial products company’s stock valued at $435,406,000 after buying an additional 227,653 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Company Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.