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

StockNews.com cut shares of Dover (NYSE:DOV) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

A number of other brokerages have also recently issued reports on DOV. Wolfe Research upgraded shares of 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. Wells Fargo & Company dropped their price objective on shares of Dover from $205.00 to $200.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. The Goldman Sachs Group increased their price objective on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Barclays increased their price objective on shares of Dover from $190.00 to $205.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Dover from $212.00 to $208.00 and set an “overweight” rating for the company in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.55.

Dover Price Performance

NYSE:DOV opened at $190.88 on Wednesday. Dover has a one year low of $143.96 and a one year high of $208.26. The stock has a market cap of $26.19 billion, a P/E ratio of 17.07, a PEG ratio of 2.15 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. The company has a fifty day moving average price of $196.43 and a 200 day moving average price of $188.79.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Friday, November 29th. Dover’s dividend payout ratio is currently 18.43%.

Institutional Investors Weigh In On Dover

A number of hedge funds have recently added to or reduced their stakes in DOV. Interval Partners LP grew its holdings in Dover by 110.0% during the 2nd quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock worth $105,216,000 after acquiring an additional 305,436 shares during the last quarter. FMR LLC boosted its stake 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 valued at $591,676,000 after purchasing an additional 149,378 shares during the last quarter. National Bank of Canada FI raised its position in shares of Dover by 313.7% in the 3rd quarter. National Bank of Canada FI now owns 191,127 shares of the industrial products company’s stock valued at $36,647,000 after acquiring an additional 144,930 shares during the period. Kimelman & Baird LLC acquired a new stake in shares of Dover in the 2nd quarter valued at approximately $17,323,000. Finally, Barclays PLC raised its position in shares of Dover by 26.6% in the 3rd quarter. Barclays PLC now owns 360,291 shares of the industrial products company’s stock valued at $69,082,000 after acquiring an additional 75,670 shares during the period. Institutional investors 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.