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 Wednesday.

Several other research firms have also commented on DOV. Citigroup reduced their price target on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a report on Monday, January 13th. Royal Bank of Canada upped their target price on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Wells Fargo & Company increased their target price on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. UBS Group reduced their price target on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $225.00 price objective (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $218.18.

Dover Stock Performance

Dover stock opened at $174.63 on Wednesday. Dover has a fifty-two week low of $168.20 and a fifty-two week high of $222.31. The company has a market capitalization of $23.94 billion, a PE ratio of 8.98, a P/E/G ratio of 2.06 and a beta of 1.24. The company has a 50 day moving average price of $193.63 and a 200-day moving average price of $193.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04.

Dover (NYSE:DOV) last issued 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%. As a group, equities analysts forecast that Dover will post 9.45 earnings per share 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. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.18%. Dover’s dividend payout ratio is currently 10.59%.

Institutional Trading of Dover

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DOV. Cerity Partners LLC lifted its stake in Dover by 5.0% during the 3rd quarter. Cerity Partners LLC now owns 54,187 shares of the industrial products company’s stock valued at $10,390,000 after acquiring an additional 2,592 shares during the period. Swedbank AB grew its position in Dover by 76.6% during the 3rd quarter. Swedbank AB now owns 15,053 shares of the industrial products company’s stock worth $2,886,000 after purchasing an additional 6,529 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Dover by 7.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 22,145 shares of the industrial products company’s stock valued at $4,246,000 after buying an additional 1,463 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Dover in the third quarter worth about $293,000. Finally, DRW Securities LLC acquired a new stake in Dover during the third quarter worth about $265,000. Institutional investors and hedge funds 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.