The stock of Dover Corp (NYSE:DOV) hit a new 52-week high and has $80.86 target or 6.00% above today’s $76.28 share price. The 9 months bullish chart indicates low risk for the $12.33 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $80.86 price target is reached, the company will be worth $739.80M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.97 million shares traded hands or 11.30% up from the average. Dover Corp (NYSE:DOV) has risen 9.95% since April 28, 2016 and is uptrending. It has outperformed by 4.02% the S&P500.
Analysts await Dover Corp (NYSE:DOV) to report earnings on January, 24. They expect $0.80 EPS, down 1.23% or $0.01 from last year’s $0.81 per share. DOV’s profit will be $129.31M for 23.84 P/E if the $0.80 EPS becomes a reality. After $0.87 actual EPS reported by Dover Corp for the previous quarter, Wall Street now forecasts -8.05% negative EPS growth.
Dover Corp (NYSE:DOV) Ratings Coverage
Out of 19 analysts covering Dover (NYSE:DOV), 8 rate it a “Buy”, 1 “Sell”, while 10 “Hold”. This means 42% are positive. Dover has been the topic of 45 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Thursday, January 21 by Citigroup. UBS downgraded the shares of DOV in a report on Wednesday, January 13 to “Sell” rating. Citigroup maintained the shares of DOV in a report on Wednesday, June 8 with “Neutral” rating. The stock of Dover Corp (NYSE:DOV) has “Perform” rating given on Friday, December 4 by Oppenheimer. On Monday, October 5 the stock rating was maintained by Barclays Capital with “Equal-Weight”. Seaport Global downgraded Dover Corp (NYSE:DOV) on Monday, April 25 to “Neutral” rating. The stock has “Buy” rating given by Suntrust Robinson on Tuesday, November 3. The firm has “Hold” rating given on Thursday, October 20 by Stifel Nicolaus. Barclays Capital maintained the shares of DOV in a report on Monday, July 18 with “Equalweight” rating. The rating was upgraded by JP Morgan to “Neutral” on Friday, September 11.
According to Zacks Investment Research, “Dover Corporation is a world-wide, diversified manufacturer of industrial products. The company’s businesses are divided into the following four business segments: Dover Diversified; Dover Industries; Dover Resources; and Dover Technologies.”
Insitutional Activity: The institutional sentiment decreased to 0.93 in 2016 Q2. Its down 0.01, from 0.94 in 2016Q1. The ratio dropped, as 38 funds sold all Dover Corp shares owned while 196 reduced positions. 61 funds bought stakes while 158 increased positions. They now own 132.11 million shares or 2.85% less from 135.99 million shares in 2016Q1.
Brown Brothers Harriman & holds 4,650 shares or 0% of its portfolio. Moreover, Boothbay Fund Mngmt Ltd Llc has 0.39% invested in Dover Corp (NYSE:DOV) for 11,774 shares. Finemark Comml Bank Tru accumulated 0.02% or 2,960 shares. Plante Moran Advsrs holds 2,469 shares or 0.12% of its portfolio. Da Davidson & accumulated 4,267 shares or 0.01% of the stock. Nomura Holdg has 50,846 shares for 0.01% of their US portfolio. Tiaa Cref Fsb Mo has 35,572 shares for 0.02% of their US portfolio. North Point Port Managers Oh holds 1.95% of its portfolio in Dover Corp (NYSE:DOV) for 142,912 shares. Gulf Intll Comml Bank (Uk) Limited has 0.06% invested in the company for 48,108 shares. Cincinnati Finance accumulated 3.12% or 796,800 shares. Choate Investment Advsr holds 16,540 shares or 0% of its portfolio. Ngam Advsrs L P reported 12,291 shares or 0.01% of all its holdings. Mackenzie Financial, a Ontario – Canada-based fund reported 11,351 shares. Mariner Wealth Advsrs Ltd owns 6,034 shares or 0.02% of their US portfolio. Loews reported 2,950 shares or 0% of all its holdings.
Insider Transactions: Since July 26, 2016, the stock had 0 insider buys, and 6 sales for $3.67 million net activity. Shares for $38,832 were sold by Arkell Sandra A. $104,262 worth of shares were sold by Fincher C. Anderson on Monday, August 8. On Tuesday, July 26 the insider Spurgeon William sold $1.23 million. Goldberg Paul sold $129,836 worth of Dover Corp (NYSE:DOV) on Wednesday, August 3. STUBBS MICHAEL B sold $1.36 million worth of stock or 19,000 shares. $807,889 worth of Dover Corp (NYSE:DOV) was sold by Kloosterboer Jay L on Thursday, November 10.
More news for Dover Corp (NYSE:DOV) were recently published by: Fool.com, which released: “Dover Corporation Still Looks Like a Good Value” on December 01, 2016. Investorplace.com‘s article titled: “Why Now May Be the Time to Dump Dover Corp (DOV)” and published on November 09, 2016 is yet another important article.
DOV Company Profile
Dover Corporation (Dover), incorporated on April 22, 1947, is engaged in the manufacturing of equipment, components and specialty systems. The Firm also provides supporting engineering, testing and other services. The Firm operates through four divisions: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Company’s businesses are based in the United States and Europe with manufacturing and other activities across the world. The Company’s clients include businesses supplying the waste and recycling; agricultural; defense; energy; automotive and commercial refrigeration industries; businesses supplying the power generation; aerospace, and chemical industries.
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