Dover (NYSE:DOV) Lowered to Hold Rating by StockNews.com

Dover (NYSE:DOV) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Several other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. The Goldman Sachs Group boosted their price objective on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Oppenheimer reiterated an “outperform” rating and issued a $225.00 target price (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. Citigroup lowered their price target on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Barclays cut their price objective on Dover from $213.00 to $205.00 and set an “equal weight” rating for the company in a report on Wednesday. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.18.

Dover Stock Down 1.7 %

DOV stock opened at $179.16 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The firm has a market capitalization of $24.56 billion, a P/E ratio of 9.21, a P/E/G ratio of 2.06 and a beta of 1.24. Dover has a 52-week low of $168.20 and a 52-week high of $222.31. The company’s 50 day simple moving average is $194.03 and its 200-day simple moving average is $193.59.

Dover (NYSE:DOV) last announced its 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%. As a group, equities research analysts anticipate that Dover will post 9.45 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Financial Life Planners bought a new stake in Dover during the fourth quarter worth approximately $28,000. R Squared Ltd bought a new stake in shares of Dover during the 4th quarter worth $34,000. EverSource Wealth Advisors LLC grew its stake in Dover by 79.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after buying an additional 87 shares during the last quarter. Kieckhefer Group LLC bought a new position in Dover in the 4th quarter worth $38,000. Finally, Orion Capital Management LLC acquired a new position in Dover during the 4th quarter worth $43,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

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.