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 report report published on Wednesday.

Other research analysts have also issued reports about the stock. Wolfe Research raised shares of 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. Barclays boosted their price objective on Dover from $190.00 to $205.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Wells Fargo & Company dropped their target price on Dover from $205.00 to $200.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. The Goldman Sachs Group increased their price target on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, UBS Group started coverage on shares of Dover in a report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price objective on the stock. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.55.

Dover Stock Up 0.3 %

Shares of NYSE:DOV opened at $195.00 on Wednesday. The firm has a market cap of $26.75 billion, a P/E ratio of 17.44, a PEG ratio of 2.15 and a beta of 1.23. Dover has a 52-week low of $144.63 and a 52-week high of $208.26. The business’s 50 day simple moving average is $196.15 and its two-hundred day simple moving average is $188.95. 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 firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Friday, November 29th. Dover’s dividend payout ratio (DPR) is currently 18.43%.

Institutional Investors Weigh In On Dover

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new stake in shares of Dover during the 3rd quarter valued at $33,000. Fairscale Capital LLC bought a new position in shares of Dover in the second quarter valued at approximately $34,000. Kieckhefer Group LLC bought a new stake in Dover during the 4th quarter worth approximately $38,000. Avior Wealth Management LLC lifted its stake in 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 bought a new position in Dover in the 3rd 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.