Dover (NYSE:DOV) Rating Lowered to “Hold” at StockNews.com

StockNews.com cut shares of Dover (NYSE:DOV) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Other analysts also recently issued reports about the stock. UBS Group started coverage on shares of Dover in a report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 target price on the stock. Barclays raised their target price on shares of Dover from $190.00 to $205.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. lowered their price objective on shares of Dover from $212.00 to $208.00 and set an “overweight” rating on the stock in a report on Wednesday. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a report on Monday, October 28th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $215.00 price objective (up from $210.00) on shares of Dover in a report on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $212.55.

Dover Stock Performance

Shares of DOV stock opened at $190.88 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. The company has a market capitalization of $26.19 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 2.15 and a beta of 1.23. The company’s 50 day moving average price is $196.43 and its two-hundred day moving average price is $188.79. Dover has a 52 week low of $143.96 and a 52 week high of $208.26.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $0.515 per share. The ex-dividend date was Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a yield of 1.08%. Dover’s dividend payout ratio (DPR) is 18.43%.

Hedge Funds Weigh In On Dover

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IAM Advisory LLC bought a new position in Dover during the fourth quarter worth $802,000. Astoria Portfolio Advisors LLC. boosted its position in Dover by 16.1% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 1,442 shares of the industrial products company’s stock worth $272,000 after purchasing an additional 200 shares during the period. HB Wealth Management LLC boosted its position in Dover by 5.3% during the fourth quarter. HB Wealth Management LLC now owns 8,029 shares of the industrial products company’s stock worth $1,506,000 after purchasing an additional 401 shares during the period. Trust Co. of Vermont boosted its position in Dover by 4.0% during the fourth quarter. Trust Co. of Vermont now owns 5,023 shares of the industrial products company’s stock worth $942,000 after purchasing an additional 194 shares during the period. Finally, TrueWealth Advisors LLC bought a new position in Dover during the fourth quarter worth $475,000. 84.46% of the stock is owned by institutional investors.

Dover Company Profile

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.