Dover (NYSE:DOV) Lowered to “Hold” Rating by 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 Tuesday morning.

Several other research firms have also issued reports on DOV. Citigroup cut their target price on 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 boosted their price target on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Oppenheimer restated an “outperform” rating and set a $225.00 price target (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. Barclays boosted their price target on Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada boosted their price target on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Stock Down 1.3 %

NYSE:DOV opened at $180.54 on Tuesday. Dover has a twelve month low of $168.20 and a twelve month high of $222.31. The company has a market cap of $24.78 billion, a price-to-earnings ratio of 9.28, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The stock has a fifty day simple moving average of $194.88 and a 200-day simple moving average of $193.62. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36.

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

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Friday, February 28th. Dover’s payout ratio is presently 10.59%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Financial Life Planners acquired a new position in Dover in the fourth quarter valued at approximately $28,000. R Squared Ltd acquired a new position in Dover in the fourth quarter valued at approximately $34,000. EverSource Wealth Advisors LLC lifted its holdings in Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 87 shares during the period. Kieckhefer Group LLC acquired a new position in Dover in the fourth quarter valued at approximately $38,000. Finally, Orion Capital Management LLC acquired a new position in Dover in the fourth quarter valued at approximately $43,000. 84.46% of the stock is owned by institutional investors and hedge funds.

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.