Dover (NYSE:DOV) Cut to Hold at StockNews.com

StockNews.com cut shares of Dover (NYSE:DOV) from a buy rating to a hold rating in a research note published on Thursday morning.

A number of other brokerages have also recently commented on DOV. Barclays raised their target price on Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. The Goldman Sachs Group raised 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. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 target price (up from $220.00) on shares of Dover in a research note on Friday, January 31st. UBS Group decreased their price target on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Finally, Royal Bank of Canada boosted their price target on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $218.91.

Dover Price Performance

Shares of DOV opened at $196.47 on Thursday. The firm has a 50-day simple moving average of $195.86 and a two-hundred day simple moving average of $193.11. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. Dover has a 1-year low of $163.32 and a 1-year high of $222.31. The stock has a market cap of $26.96 billion, a PE ratio of 10.10, a P/E/G ratio of 2.06 and a beta of 1.24.

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 analysts’ consensus estimates of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. As a group, analysts forecast that Dover will post 9.45 EPS for the current year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.05%. The ex-dividend date is Friday, February 28th. Dover’s dividend payout ratio (DPR) is presently 10.59%.

Institutional Trading of Dover

A number of institutional investors have recently bought and sold shares of the business. Ecofi Investissements SA raised its position in shares of Dover by 1.1% during the 4th quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company’s stock worth $765,000 after acquiring an additional 50 shares in the last quarter. Spire Wealth Management raised its holdings in Dover by 2.1% during the fourth quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock worth $464,000 after purchasing an additional 52 shares in the last quarter. Independent Advisor Alliance lifted its position in shares of Dover by 0.3% during the 3rd quarter. Independent Advisor Alliance now owns 18,036 shares of the industrial products company’s stock worth $3,458,000 after buying an additional 58 shares during the last quarter. ORG Partners LLC boosted its holdings in shares of Dover by 5.4% in the 4th quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock valued at $214,000 after buying an additional 58 shares in the last quarter. Finally, Trust Point Inc. grew its position in shares of Dover by 3.1% in the 4th quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock valued at $367,000 after buying an additional 59 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.