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

Dover (NYSE:DOV) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

DOV has been the topic of several other research reports. Barclays upped their price objective on Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Wells Fargo & Company upped their price objective on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Royal Bank of Canada upped their price objective on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Finally, Oppenheimer reissued an “outperform” rating and issued a $225.00 price target (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $218.91.

Dover Stock Up 1.1 %

Shares of DOV opened at $183.05 on Tuesday. The company has a market capitalization of $25.12 billion, a P/E ratio of 9.41, a PEG ratio of 2.06 and a beta of 1.24. 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 one year low of $168.20 and a one year high of $222.31. The business’s 50 day simple moving average is $195.02 and its 200-day simple moving average is $193.65.

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%. As a group, sell-side analysts predict that Dover will post 9.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Dover

Large investors have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC increased its holdings in Dover by 78.6% during the 4th quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company’s stock worth $2,345,000 after purchasing an additional 5,500 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Dover by 195.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock valued at $17,077,000 after acquiring an additional 60,235 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Dover by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock valued at $34,100,000 after acquiring an additional 5,372 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Dover by 54.3% in the 3rd quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock valued at $2,523,000 after acquiring an additional 4,629 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in shares of Dover by 28.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 23,831 shares of the industrial products company’s stock valued at $4,471,000 after acquiring an additional 5,289 shares in the last quarter. 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.