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

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

Several other research analysts also recently weighed in on the company. Oppenheimer reaffirmed an “outperform” rating and set 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 increased their price objective on shares of Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. The Goldman Sachs Group lifted 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. Citigroup reduced their price target on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Wells Fargo & Company lifted their price objective on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a report 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’s stock. According to data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Stock Performance

DOV opened at $196.47 on Thursday. The firm has a fifty day moving average price of $195.86 and a 200 day moving average price of $193.11. Dover has a 1 year low of $163.32 and a 1 year high of $222.31. The stock has a market cap of $26.96 billion, a P/E ratio of 10.10, a P/E/G ratio of 2.06 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52.

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

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.515 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.05%. Dover’s dividend payout ratio (DPR) is presently 10.59%.

Hedge Funds Weigh In On Dover

A number of institutional investors have recently added to or reduced their stakes in DOV. Financial Life Planners acquired a new stake in shares of Dover in the 4th quarter worth $28,000. Ashton Thomas Securities LLC purchased a new stake in shares of Dover in the third quarter valued at about $33,000. R Squared Ltd acquired a new stake in Dover during the fourth quarter worth about $34,000. EverSource Wealth Advisors LLC raised its stake 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 period. Finally, Kieckhefer Group LLC acquired a new position in Dover in the 4th quarter valued at about $38,000. Hedge funds and other 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.