3 Industrial Stocks Nudging The Industry Higher
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.
All three major indices are trading down today with the Dow Jones Industrial Average (^DJI) trading down 17 points (-0.1%) at 16,556 as of Thursday, April 3, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,086 issues advancing vs. 1,855 declining with 176 unchanged.
The Industrial industry currently sits down 1.0% versus the S&P 500, which is down 0.3%. A company within the industry that increased today was Eaton Corporation (ETN), up 0.4%. On the negative front, top decliners within the industry include Middleby Corporation (MIDD), down 1.9%, Lincoln Electric Holdings (LECO), down 1.4%, Flowserve Corporation (FLS), down 1.1%, Pall Corporation (PLL), down 1.0% and Nidec Corporation (NJ), down 0.7%.
TheStreet would like to highlight 3 stocks pushing the industry higher today:
3. Dover Corporation (DOV) is one of the companies pushing the Industrial industry higher today. As of noon trading, Dover Corporation is up $0.50 (0.6%) to $85.65 on average volume. Thus far, 735,193 shares of Dover Corporation exchanged hands as compared to its average daily volume of 1.7 million shares. The stock has ranged in price between $84.76-$85.93 after having opened the day at $85.20 as compared to the previous trading day's close of $85.15.
Dover Corporation and its subsidiaries manufacture and sell a range of equipment and components, specialty systems, and support services. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. Dover Corporation has a market cap of $14.1 billion and is part of the industrial goods sector. Currently there are 11 analysts who rate Dover Corporation a buy, no analysts rate it a sell, and 3 rate it a hold.
TheStreet Ratings rates Dover Corporation as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, compelling growth in net income, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Dover Corporation Ratings Report now.
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