StockNews.com Upgrades Dover (NYSE:DOV) to Buy

Dover (NYSE:DOV) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Several other brokerages have also recently weighed in 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 research note on Friday, January 31st. Mizuho lifted their price objective on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. The Goldman Sachs Group increased their target price 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. Citigroup decreased their price target on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, UBS Group cut their price objective on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $218.91.

Dover Price Performance

Shares of DOV opened at $204.93 on Tuesday. The firm has a market capitalization of $28.11 billion, a price-to-earnings ratio of 10.54, a price-to-earnings-growth ratio of 2.07 and a beta of 1.24. The stock’s fifty day moving average is $195.41 and its 200-day moving average is $190.69. Dover has a one year low of $158.19 and a one year high of $222.31. 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 announced its earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS 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%. Equities analysts anticipate that Dover will post 9.42 EPS for the current year.

Hedge Funds Weigh In On Dover

Institutional investors and hedge funds have recently bought and sold shares of the business. Proficio Capital Partners LLC purchased a new position in Dover during the fourth quarter valued at approximately $28,718,000. FMR LLC boosted its stake in shares of Dover by 5.1% during the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after buying an additional 149,378 shares during the period. National Bank of Canada FI grew its holdings in shares of Dover by 313.7% during 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 in the last quarter. Barclays PLC increased its stake in shares of Dover by 26.6% in the third quarter. Barclays PLC now owns 360,291 shares of the industrial products company’s stock worth $69,082,000 after acquiring an additional 75,670 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Dover during the third quarter worth $14,459,000. Hedge funds and other institutional investors 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.