Dover (NYSE:DOV) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Dover (NYSE:DOV) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other brokerages have also issued reports on DOV. Robert W. Baird set a $235.00 target price on Dover in a research report on Friday, October 24th. Oppenheimer reduced their price objective on shares of Dover from $225.00 to $220.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. Royal Bank Of Canada boosted their price target on shares of Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a report on Friday, October 24th. Barclays raised their price objective on shares of Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Friday, October 24th. Finally, Wells Fargo & Company lifted their price objective on shares of Dover from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, October 24th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $211.55.

Dover Stock Performance

NYSE:DOV opened at $180.34 on Friday. The company has a 50-day moving average of $171.99 and a 200-day moving average of $177.32. The firm has a market cap of $24.73 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 1.40 and a beta of 1.29. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35. Dover has a twelve month low of $143.04 and a twelve month high of $222.31.

Dover (NYSE:DOV) last released its earnings results on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. The business had revenue of $1.78 billion during the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. Analysts forecast that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, November 28th. Dover’s payout ratio is currently 12.79%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DOV. Nuveen LLC purchased a new stake in shares of Dover during the 1st quarter worth about $526,081,000. First Trust Advisors LP raised its position in Dover by 717.4% during the second quarter. First Trust Advisors LP now owns 1,716,256 shares of the industrial products company’s stock valued at $314,470,000 after acquiring an additional 1,506,288 shares in the last quarter. Norges Bank acquired a new stake in Dover in the second quarter valued at approximately $274,135,000. AQR Capital Management LLC grew its position in Dover by 912.9% in the second quarter. AQR Capital Management LLC now owns 789,409 shares of the industrial products company’s stock worth $144,572,000 after acquiring an additional 711,471 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Dover by 133.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 656,349 shares of the industrial products company’s stock valued at $109,499,000 after purchasing an additional 375,333 shares in the last quarter. 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.