StockNews.com Upgrades Dover (NYSE:DOV) to “Buy”

Dover (NYSE:DOV) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Several other brokerages also recently issued reports on DOV. JPMorgan Chase & Co. upped their price target on shares of Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, October 25th. The Goldman Sachs Group increased their target price on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Oppenheimer reissued an “outperform” rating and issued a $215.00 price target (up from $210.00) on shares of Dover in a report on Wednesday, October 16th. Mizuho increased their price objective on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Barclays boosted their target price on shares of Dover from $190.00 to $205.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $213.91.

Dover Trading Up 0.2 %

NYSE:DOV opened at $189.27 on Thursday. The company has a market capitalization of $25.97 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 2.70 and a beta of 1.22. Dover has a 52-week low of $143.96 and a 52-week high of $208.26. The stock has a fifty day simple moving average of $197.86 and a 200-day simple moving average of $187.70. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53.

Hedge Funds Weigh In On Dover

A number of hedge funds have recently made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new position in Dover in the third quarter valued at $33,000. McClarren Financial Advisors Inc. lifted its stake in shares of Dover by 4,400.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 176 shares in the last quarter. Fairscale Capital LLC purchased a new stake in shares of Dover during the 2nd quarter worth about $34,000. Ashton Thomas Private Wealth LLC purchased a new position in Dover in the second quarter valued at approximately $41,000. Finally, Avior Wealth Management LLC lifted its position in Dover by 183.5% during the third quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock valued at $49,000 after buying an additional 167 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

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.