Barclays Issues Positive Forecast for Dover (NYSE:DOV) Stock Price

Dover (NYSE:DOV) had its price objective hoisted by analysts at Barclays from $190.00 to $205.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price target suggests a potential upside of 1.69% from the stock’s previous close.

A number of other research firms have also weighed in on DOV. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 price target (up from $210.00) on shares of Dover in a report on Wednesday, October 16th. Wells Fargo & Company increased their price target on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target for the company in a research report on Monday, October 28th. Finally, UBS Group started coverage on shares of Dover in a report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and an average price target of $209.90.

Dover Stock Down 0.8 %

Shares of NYSE:DOV traded down $1.68 during mid-day trading on Thursday, hitting $201.60. 40,409 shares of the company traded hands, compared to its average volume of 944,898. The firm’s 50 day simple moving average is $195.87 and its 200 day simple moving average is $186.62. The firm has a market cap of $27.66 billion, a P/E ratio of 18.08, a PEG ratio of 2.74 and a beta of 1.22. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. Dover has a 52-week low of $142.09 and a 52-week high of $208.26.

Insider Buying and Selling

In related news, CFO Brad M. Cerepak sold 14,818 shares of Dover stock in a transaction dated Friday, September 6th. The shares were 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 in the company, valued at $2,156,700. This trade represents a 54.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dover

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers increased its stake in Dover by 975.5% during the 1st quarter. Cetera Investment Advisers now owns 24,886 shares of the industrial products company’s stock valued at $4,410,000 after buying an additional 22,572 shares during the period. ORG Partners LLC raised its holdings in Dover by 1,414.2% during the second quarter. ORG Partners LLC now owns 4,255 shares of the industrial products company’s stock worth $754,000 after purchasing an additional 3,974 shares in the last quarter. QRG Capital Management Inc. lifted its position in Dover by 10.8% in the second quarter. QRG Capital Management Inc. now owns 31,274 shares of the industrial products company’s stock worth $5,643,000 after purchasing an additional 3,051 shares during the period. Versor Investments LP acquired a new position in shares of Dover during the 3rd quarter valued at $1,920,000. Finally, Brendel Financial Advisors LLC raised its stake in shares of Dover by 347.7% in the 3rd quarter. Brendel Financial Advisors LLC now owns 22,772 shares of the industrial products company’s stock worth $4,366,000 after buying an additional 17,685 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.