Dover (NYSE:DOV) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Dover (NYSE:DOV) from a hold rating to a buy rating in a report issued on Monday.

DOV has been the topic of several other reports. Oppenheimer reissued an “outperform” rating and issued a $225.00 price objective (up from $220.00) on shares of Dover 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 stock a “buy” rating in a research report on Thursday, December 12th. Barclays boosted their price objective on shares of Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. UBS Group decreased their price objective on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and an average target price of $218.91.

Dover Stock Performance

DOV opened at $177.97 on Monday. The firm’s fifty day simple moving average is $195.68 and its two-hundred day simple moving average is $193.73. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The company has a market cap of $24.42 billion, a price-to-earnings ratio of 9.15, a PEG 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.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. Equities analysts anticipate that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.515 per share. The ex-dividend date is Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a yield of 1.16%. Dover’s payout ratio is currently 10.59%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DOV. Financial Life Planners acquired a new position in shares of Dover in the fourth quarter valued at $28,000. Ashton Thomas Securities LLC bought a new stake in Dover in the third quarter valued at $33,000. R Squared Ltd bought a new stake in Dover in the fourth quarter valued at $34,000. EverSource Wealth Advisors LLC grew its position in Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 87 shares during the period. Finally, Kieckhefer Group LLC bought a new stake in Dover in the fourth quarter valued at $38,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.