Dover (NYSE:DOV) Cut to Hold at StockNews.com

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

Other equities analysts have also issued reports about the company. Oppenheimer reiterated an “outperform” rating and set a $215.00 price objective (up from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Citigroup decreased their price target on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company cut their price objective on shares of Dover from $205.00 to $200.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. The Goldman Sachs Group boosted their price target on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research note on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $212.55.

Dover Stock Performance

Dover stock opened at $195.00 on Wednesday. Dover has a fifty-two week low of $144.63 and a fifty-two week high of $208.26. The firm’s fifty day moving average price is $196.15 and its 200-day moving average price is $188.95. The stock has a market cap of $26.75 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 2.15 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $0.515 per share. The ex-dividend date was Friday, November 29th. This represents a $2.06 annualized dividend and a yield of 1.06%. Dover’s payout ratio is 18.43%.

Hedge Funds Weigh In On Dover

Institutional investors have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Dover in the 3rd quarter worth about $33,000. Fairscale Capital LLC bought a new position in shares of Dover during the second quarter valued at approximately $34,000. Kieckhefer Group LLC purchased a new position in shares of Dover during the fourth quarter valued at approximately $38,000. Avior Wealth Management LLC boosted its position in shares of Dover by 183.5% in the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 167 shares in the last quarter. Finally, Coastline Trust Co purchased a new position in Dover during the third quarter valued at $50,000. Institutional investors 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.