Dover (NYSE:DOV) Upgraded at Wells Fargo & Company

Dover (NYSE:DOV) was upgraded by research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage presently has a $230.00 price objective on the industrial products company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 10.88% from the stock’s current price.

A number of other research firms have also recently commented on DOV. Wall Street Zen raised shares of Dover from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Oppenheimer increased their price objective on shares of Dover from $228.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Barclays set a $206.00 target price on shares of Dover in a report on Monday, February 2nd. JPMorgan Chase & Co. upped their price target on shares of Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Finally, Robert W. Baird set a $255.00 price target on shares of Dover in a report on Friday, January 30th. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $225.67.

Dover Price Performance

NYSE:DOV opened at $207.43 on Tuesday. Dover has a 12-month low of $143.04 and a 12-month high of $237.54. The firm has a market capitalization of $27.98 billion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 1.57 and a beta of 1.27. The stock’s 50 day moving average price is $215.21 and its two-hundred day moving average price is $192.77. The company has a quick ratio of 1.28, a current ratio of 1.79 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last issued its earnings results on Thursday, January 29th. The industrial products company reported $2.51 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the company posted $2.20 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, analysts anticipate that Dover will post 9.45 earnings per share for the current year.

Insider Activity

In related news, VP Girish Juneja sold 1,500 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $230.77, for a total value of $346,155.00. Following the transaction, the vice president directly owned 8,422 shares in the company, valued at approximately $1,943,544.94. This represents a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard J. Tobin sold 76,997 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the transaction, the chief executive officer directly owned 217,979 shares in the company, valued at approximately $50,723,713.30. This represents a 26.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 82,497 shares of company stock valued at $19,196,277. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dover

A number of hedge funds and other institutional investors have recently made changes to their positions in DOV. Financial Life Planners bought a new stake in shares of Dover in the third quarter valued at approximately $25,000. Meeder Asset Management Inc. raised its holdings in Dover by 234.2% in the 4th quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 89 shares in the last quarter. Reflection Asset Management acquired a new position in Dover in the 4th quarter valued at $26,000. MV Capital Management Inc. bought a new stake in shares of Dover during the 4th quarter valued at $29,000. Finally, Tompkins Financial Corp grew its holdings in shares of Dover by 102.7% during the 4th quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 77 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

About Dover

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.