Dover Corp Receives a Hold from Oppenheimer

By Ryan Adsit

In a report released today, Jim Giannakouros from Oppenheimer reiterated a Hold rating on Dover Corp (NYSE: DOV). The company’s shares opened today at $83.36, close to its 52-week high of $84.40.

According to TipRanks.com, Giannakouros is a 3-star analyst with an average return of 3.4% and a 54.6% success rate. Giannakouros covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Mueller Water Products.

Dover Corp has an analyst consensus of Hold, with a price target consensus of $87.33.

Based on Dover Corp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.81 billion and quarterly net profit of $172 million. In comparison, last year the company earned revenue of $1.62 billion and had a net profit of $99.36 million.

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Anderson Fincher, the VP of DOV sold 15,638 shares for a total of $1,248,694.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Dover Corp. engages in the manufacture of equipment, components, and specialty systems. It also provides supporting engineering, testing, and other similar services. It operates through the following segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment services include drilling and production; bearings and compression; and automation end markets. The Engineered Systems segment comprises of platforms the printing and identification as well as industrials; and is focused on the design, manufacture, and service of critical equipment and components. The Fluids segment services involves fluid transfer and pumps end markets. The Refrigeration & Food Equipment segment provides energy equipment and systems serving the commercial refrigeration; and food service industries. The company was founded by George L. Ohrstrom in 1947 and is headquartered in Downers Grove, IL.