Traders Buy Dover (DOV) on Weakness Following Analyst Downgrade

Traders purchased shares of Dover Corp (NYSE:DOV) on weakness during trading hours on Tuesday after Zacks Investment Research downgraded the stock from a buy rating to a hold rating. $22.52 million flowed into the stock on the tick-up and $15.99 million flowed out of the stock on the tick-down, for a money net flow of $6.53 million into the stock. Of all companies tracked, Dover had the 33rd highest net in-flow for the day. Dover traded down ($0.30) for the day and closed at $94.00

Other equities analysts have also issued research reports about the company. BMO Capital Markets increased their target price on Dover from $116.00 to $118.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Morgan Stanley upped their price target on Dover from $110.00 to $113.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Stifel Nicolaus cut their price target on Dover from $115.00 to $102.00 and set a “hold” rating on the stock in a report on Monday. SunTrust Banks upped their price target on Dover to $106.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. Finally, Barclays assumed coverage on Dover in a report on Thursday, February 15th. They set an “overweight” rating and a $120.00 price target on the stock. Thirteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $107.00.

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In other Dover news, VP Anthony K. Kosinski sold 895 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $104.34, for a total transaction of $93,384.30. Following the completion of the transaction, the vice president now owns 8,516 shares of the company’s stock, valued at $888,559.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen Gary Kennon sold 15,702 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $102.01, for a total value of $1,601,761.02. The disclosure for this sale can be found here. Insiders sold a total of 19,897 shares of company stock valued at $2,031,745 over the last ninety days. 2.60% of the stock is currently owned by company insiders.



A number of institutional investors have recently added to or reduced their stakes in DOV. Cerebellum GP LLC purchased a new position in Dover during the fourth quarter worth $133,000. Tower Research Capital LLC TRC increased its position in Dover by 891.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock worth $179,000 after buying an additional 1,596 shares in the last quarter. Somerville Kurt F purchased a new stake in shares of Dover in the fourth quarter valued at $202,000. Associated Banc Corp purchased a new stake in shares of Dover in the fourth quarter valued at $202,000. Finally, Hemenway Trust Co LLC purchased a new stake in shares of Dover in the fourth quarter valued at $203,000. 88.19% of the stock is owned by institutional investors.

The stock has a market cap of $14,494.27, a P/E ratio of 23.33, a price-to-earnings-growth ratio of 1.23 and a beta of 1.30. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.01.

Dover (NYSE:DOV) last announced its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.09. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. Dover had a return on equity of 15.24% and a net margin of 10.37%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 earnings per share. analysts predict that Dover Corp will post 5.86 earnings per share for the current fiscal year.

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About Dover

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of fuels for drilling and production, bearings and compression, and automation end markets.

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