Dover (NYSE:DOV) Downgraded to “Hold” Rating by StockNews.com

StockNews.com cut shares of Dover (NYSE:DOV) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

Several other equities analysts have also issued reports on DOV. Royal Bank of Canada increased their target price on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price target (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. The Goldman Sachs Group increased their price target on 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 increased their price target on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their price objective on Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $218.91.

Dover Trading Down 1.3 %

Shares of DOV stock opened at $180.54 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 company has a market cap of $24.78 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 2.06 and a beta of 1.24. The stock has a 50 day simple moving average of $194.88 and a 200-day simple moving average of $193.62. Dover has a 1-year low of $168.20 and a 1-year high of $222.31.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, hitting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. On average, equities research analysts expect that Dover will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.515 dividend. The ex-dividend date was Friday, February 28th. This represents a $2.06 annualized dividend and a dividend yield of 1.14%. Dover’s dividend payout ratio is currently 10.59%.

Hedge Funds Weigh In On Dover

Several hedge funds and other institutional investors have recently bought and sold shares of DOV. Financial Life Planners acquired a new position in Dover during the fourth quarter worth $28,000. R Squared Ltd acquired a new position in Dover during the fourth quarter worth $34,000. EverSource Wealth Advisors LLC raised its holdings in 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 during the last quarter. Kieckhefer Group LLC acquired a new position in Dover during the fourth quarter worth $38,000. Finally, Orion Capital Management LLC acquired a new position in Dover during the fourth quarter worth $43,000. 84.46% of the stock is owned by institutional investors and hedge funds.

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.