Dover (NYSE:DOV) PT Raised to $212.00 at JPMorgan Chase & Co.

Dover (NYSE:DOV) had its price objective upped by JPMorgan Chase & Co. from $210.00 to $212.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 12.71% from the stock’s current price.

DOV has been the topic of a number of other research reports. Robert W. Baird reiterated an “outperform” rating and issued a $208.00 price objective on shares of Dover in a research report on Monday, July 22nd. Oppenheimer restated an “outperform” rating and set a $215.00 price target (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Royal Bank of Canada raised their price target on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Wells Fargo & Company raised their price target on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Finally, Wolfe Research upgraded Dover to a “hold” rating in a research report on Friday, September 20th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.00.

Dover Stock Performance

Shares of NYSE:DOV traded up $3.31 during trading on Friday, hitting $188.09. 316,445 shares of the company were exchanged, compared to its average volume of 975,971. The company has a market cap of $25.85 billion, a PE ratio of 18.04, a P/E/G ratio of 2.20 and a beta of 1.22. The stock has a 50 day moving average of $186.66 and a 200 day moving average of $182.12. Dover has a 52-week low of $127.25 and a 52-week high of $195.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95.

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

Insider Buying and Selling

In related news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the sale, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,156,700. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of Dover stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the sale, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brad M. Cerepak sold 4,341 shares of Dover 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 sale, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,274,887.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,383 shares of company stock valued at $8,169,883 over the last ninety days. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Dover

Several large investors have recently made changes to their positions in DOV. Price T Rowe Associates Inc. MD lifted its holdings in shares of Dover by 153.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock valued at $466,622,000 after purchasing an additional 1,595,611 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Dover by 162.2% during the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock valued at $124,195,000 after purchasing an additional 425,768 shares during the last quarter. Interval Partners LP lifted its holdings in shares of Dover by 110.0% during the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock valued at $105,216,000 after purchasing an additional 305,436 shares during the last quarter. Kimelman & Baird LLC purchased a new position in shares of Dover during the second quarter valued at approximately $17,323,000. Finally, Earnest Partners LLC raised its holdings in Dover by 31.5% in the 1st quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock worth $70,370,000 after acquiring an additional 95,056 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.