JPMorgan Chase & Co. Increases Dover (NYSE:DOV) Price Target to $212.00

Dover (NYSE:DOV) had its price target lifted by investment analysts at JPMorgan Chase & Co. from $210.00 to $212.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 12.71% from the company’s current price.

Other analysts have also issued reports about the company. Mizuho increased their target price on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Wolfe Research upgraded Dover to a “hold” rating in a research report on Friday, September 20th. Royal Bank of Canada upped their price objective on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Wells Fargo & Company upped their price objective on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Finally, Barclays upped their price objective on Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and a consensus price target of $205.00.

Dover Stock Performance

Shares of DOV stock traded up $3.31 during trading on Friday, reaching $188.09. 316,445 shares of the company’s stock were exchanged, compared to its average volume of 975,971. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55. The firm’s fifty day moving average price is $186.66 and its 200-day moving average price is $182.12. Dover has a twelve month low of $127.25 and a twelve month high of $195.68. The stock has a market capitalization of $25.85 billion, a PE ratio of 18.04, a PEG ratio of 2.20 and a beta of 1.22.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.11. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. As a group, sell-side analysts anticipate that Dover will post 9.18 EPS for the current year.

Insider Activity

In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the transaction, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at $8,706,100. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the transaction, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at $8,706,100. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total value of $801,305.19. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at approximately $2,274,887.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,383 shares of company stock valued at $8,169,883 over the last three months. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Dover

Institutional investors and hedge funds have recently bought and sold shares of the company. LRI Investments LLC bought a new position in Dover during the first quarter valued at $27,000. McClarren Financial Advisors Inc. grew its holdings in Dover by 4,400.0% during the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 176 shares during the period. Fairscale Capital LLC bought a new position in Dover during the second quarter valued at $34,000. Transcendent Capital Group LLC grew its holdings in Dover by 208.0% during the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 156 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in Dover during the second quarter valued at $41,000. 84.46% of the stock is owned by institutional investors.

About Dover

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.