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

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

A number of other research analysts also recently weighed in on DOV. Royal Bank of Canada lifted their price target on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. Barclays lifted their price target 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 lifted their price target on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Oppenheimer reissued 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. Finally, UBS Group reduced 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. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Stock Up 1.1 %

Shares of DOV stock opened at $183.05 on Tuesday. Dover has a 1 year low of $168.20 and a 1 year high of $222.31. The stock has a market cap of $25.12 billion, a PE ratio of 9.41, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The business’s fifty day moving average is $195.02 and its 200-day moving average is $193.65. 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 (EPS) for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Equities analysts expect that Dover will post 9.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dover

Large investors have recently made changes to their positions in the business. Bannerman Wealth Management Group LLC bought a new position in Dover during the fourth quarter valued at about $228,000. IronOak Wealth LLC. bought a new stake in shares of Dover in the 4th quarter valued at approximately $340,000. Smith Shellnut Wilson LLC ADV grew its stake in shares of Dover by 9.8% in the 4th quarter. Smith Shellnut Wilson LLC ADV now owns 3,128 shares of the industrial products company’s stock valued at $587,000 after purchasing an additional 278 shares during the period. Siemens Fonds Invest GmbH grew its stake in shares of Dover by 12.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 2,642 shares of the industrial products company’s stock valued at $492,000 after purchasing an additional 301 shares during the period. Finally, BridgePort Financial Solutions LLC bought a new stake in shares of Dover in the 4th quarter valued at approximately $370,000. 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.