Dover (NYSE:DOV) Upgraded by StockNews.com to Buy Rating

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

DOV has been the topic of a number of other research reports. Wells Fargo & Company boosted their price objective on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Citigroup decreased their price objective on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Mizuho boosted their price objective on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Barclays lifted their target price 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. Finally, UBS Group cut their price objective on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Dover presently has an average rating of “Moderate Buy” and an average target price of $218.91.

Dover Stock Up 0.4 %

Shares of NYSE:DOV opened at $203.13 on Tuesday. The company has a market cap of $27.87 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 2.07 and a beta of 1.24. The firm’s 50-day simple moving average is $195.44 and its 200-day simple moving average is $190.59. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Dover has a fifty-two week low of $156.59 and a fifty-two week high of $222.31.

Dover (NYSE:DOV) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. As a group, equities research analysts predict that Dover will post 9.42 earnings per share for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.515 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a yield of 1.01%. Dover’s payout ratio is 10.59%.

Institutional Investors Weigh In On Dover

Institutional investors have recently bought and sold shares of the business. Financial Life Planners purchased a new stake in Dover during the fourth quarter worth approximately $28,000. Ashton Thomas Securities LLC purchased a new stake in Dover during the third quarter worth approximately $33,000. R Squared Ltd purchased a new stake in Dover during the fourth quarter worth approximately $34,000. Kieckhefer Group LLC purchased a new stake in Dover during the fourth quarter worth approximately $38,000. Finally, Golden State Wealth Management LLC purchased a new stake in Dover during the fourth quarter worth approximately $46,000. 84.46% of the stock is currently owned by hedge funds and other 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.