StockNews.com Downgrades Dover (NYSE:DOV) to Hold

StockNews.com lowered shares of Dover (NYSE:DOV) from a buy rating to a hold rating in a research report released on Tuesday.

Several other research firms have also recently weighed in on DOV. Citigroup lowered their price objective 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. Royal Bank of Canada lifted their price target on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. The Goldman Sachs Group lifted their price target on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. lifted their price target on shares of Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company lifted their price target on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Trading Down 0.5 %

Shares of DOV stock opened at $181.38 on Tuesday. Dover has a 12-month low of $168.20 and a 12-month high of $222.31. The company has a market capitalization of $24.89 billion, a P/E ratio of 9.33, a P/E/G ratio of 2.06 and a beta of 1.24. The firm has a 50-day moving average price of $194.67 and a 200 day moving average price of $193.45. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. Research analysts forecast that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.515 dividend. The ex-dividend date of this dividend 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 institutional investors and hedge funds have recently modified their holdings of the stock. Financial Life Planners bought a new position in Dover during the fourth quarter worth about $28,000. R Squared Ltd bought a new position in Dover during the fourth quarter worth about $34,000. EverSource Wealth Advisors LLC increased its position 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 acquiring an additional 87 shares during the period. Kieckhefer Group LLC bought a new position in Dover during the fourth quarter worth about $38,000. Finally, Orion Capital Management LLC bought a new position in Dover during the fourth quarter worth about $43,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.