Dover (NYSE:DOV) Rating Lowered to “Hold” at StockNews.com

Dover (NYSE:DOV) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

DOV has been the topic of several other research reports. Royal Bank of Canada raised their price target on shares of Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. The Goldman Sachs Group increased their target price on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Wells Fargo & Company boosted their price objective on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on shares of Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Citigroup lowered their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $218.18.

Dover Trading Down 2.0 %

Shares of DOV stock traded down $3.73 during mid-day trading on Wednesday, hitting $182.01. The company’s stock had a trading volume of 1,020,645 shares, compared to its average volume of 884,976. The company has a market cap of $24.98 billion, a PE ratio of 9.36, a P/E/G ratio of 2.06 and a beta of 1.24. The company’s fifty day simple moving average is $194.34 and its 200-day simple moving average is $193.69. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. Dover has a 52 week low of $168.20 and a 52 week high of $222.31.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting 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 expect that Dover will post 9.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DOV. Cerity Partners LLC grew its holdings in shares of Dover by 5.0% during the 3rd quarter. Cerity Partners LLC now owns 54,187 shares of the industrial products company’s stock valued at $10,390,000 after purchasing an additional 2,592 shares during the last quarter. Swedbank AB boosted its holdings in Dover by 76.6% during the 3rd quarter. Swedbank AB now owns 15,053 shares of the industrial products company’s stock valued at $2,886,000 after acquiring an additional 6,529 shares during the period. Daiwa Securities Group Inc. grew its position in Dover by 7.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 22,145 shares of the industrial products company’s stock worth $4,246,000 after acquiring an additional 1,463 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Dover during the 3rd quarter worth approximately $293,000. Finally, DRW Securities LLC purchased a new stake in shares of Dover during the third quarter valued at approximately $265,000. 84.46% of the stock is currently owned by institutional investors.

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.