Dover (NYSE:DOV) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Dover (NYSE:DOV) from a buy rating to a hold rating in a research report report published on Thursday morning.

Several other analysts also recently weighed in on DOV. UBS Group decreased their target price on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Barclays lifted their price objective on shares of Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Oppenheimer restated an “outperform” rating and issued a $225.00 target price (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Royal Bank of Canada lifted their price target on shares of Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company increased their price objective on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $218.91.

Dover Stock Performance

Shares of NYSE:DOV opened at $198.75 on Thursday. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. Dover has a 12 month low of $163.71 and a 12 month high of $222.31. The company has a market capitalization of $27.27 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 2.06 and a beta of 1.24. The firm’s 50-day moving average is $196.05 and its 200 day moving average is $193.39.

Dover (NYSE:DOV) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Research analysts predict that Dover will post 9.45 EPS for the current year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Friday, February 28th. Dover’s payout ratio is currently 10.59%.

Hedge Funds Weigh In On Dover

Large investors have recently added to or reduced their stakes in the company. Financial Life Planners purchased a new position in shares of Dover in the 4th quarter worth approximately $28,000. Ashton Thomas Securities LLC acquired a new stake in Dover in the third quarter valued at approximately $33,000. R Squared Ltd purchased a new position in Dover in the fourth quarter worth $34,000. EverSource Wealth Advisors LLC increased its position in shares of Dover by 79.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 87 shares in the last quarter. Finally, Kieckhefer Group LLC purchased a new stake in shares of Dover during the 4th quarter valued at $38,000. 84.46% of the stock is currently owned by institutional investors.

About Dover

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.