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

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

DOV has been the topic of a number of other research reports. Oppenheimer restated an “outperform” rating and set a $225.00 target price (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. Wells Fargo & Company lifted their target price on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. The Goldman Sachs Group increased their price target on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research note on Monday, October 28th. Finally, Mizuho lifted their target price on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Stock Performance

DOV opened at $204.41 on Tuesday. Dover has a 12-month low of $158.19 and a 12-month high of $222.31. The company has a market cap of $28.04 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 2.07 and a beta of 1.24. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $195.37 and its 200 day moving average is $190.79.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, equities research analysts predict that Dover will post 9.42 EPS for the current year.

Hedge Funds Weigh In On Dover

A number of large investors have recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Dover by 0.9% in the third quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock worth $1,191,531,000 after buying an additional 56,149 shares during the period. Geode Capital Management LLC grew its stake in Dover by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock worth $616,945,000 after purchasing an additional 25,993 shares in the last quarter. FMR LLC lifted its holdings in shares of Dover by 5.1% in the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after buying an additional 149,378 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Dover by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,743 shares of the industrial products company’s stock valued at $188,815,000 after buying an additional 17,193 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Dover by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 828,103 shares of the industrial products company’s stock worth $155,352,000 after acquiring an additional 16,763 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.