Dover (NYSE:DOV) Cut to Hold at StockNews.com

Dover (NYSE:DOV) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

A number of other brokerages have also commented on DOV. Citigroup decreased their price objective on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research report on Monday, January 13th. UBS Group decreased their price target on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Barclays boosted their price objective on shares of Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Royal Bank of Canada increased their target price on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company boosted their price target on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Stock Up 0.8 %

DOV stock opened at $182.27 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The firm has a market capitalization of $25.01 billion, a P/E ratio of 9.37, a P/E/G ratio of 2.06 and a beta of 1.24. Dover has a 52-week low of $168.20 and a 52-week high of $222.31. The company’s 50 day simple moving average is $194.78 and its 200-day simple moving average is $193.54.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. As a group, equities research analysts anticipate that Dover will post 9.45 EPS for the current year.

Institutional Trading of Dover

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Dover by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company’s stock worth $3,045,772,000 after purchasing an additional 57,453 shares during the last quarter. State Street Corp lifted its stake in shares of Dover by 0.9% in the third quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock worth $1,191,531,000 after buying an additional 56,149 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Dover by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company’s stock worth $618,068,000 after buying an additional 74,541 shares during the period. FMR LLC boosted its holdings in shares of Dover by 1.1% during the 4th quarter. FMR LLC now owns 3,118,391 shares of the industrial products company’s stock worth $585,010,000 after buying an additional 32,565 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its stake in Dover by 31.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company’s stock valued at $409,530,000 after buying an additional 524,092 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

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.