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 research report released on Monday morning.

A number of other analysts have also recently issued reports on the company. Barclays upped their target price on Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Wells Fargo & Company upped their target price on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Citigroup decreased their target price on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada upped their target price on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. Finally, Oppenheimer reissued an “outperform” rating and issued a $225.00 target price (up from $220.00) on shares of Dover in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $218.91.

Dover Trading Up 0.6 %

DOV opened at $181.83 on Monday. Dover has a one year low of $168.20 and a one year high of $222.31. The company has a market cap of $24.95 billion, a P/E ratio of 9.35, a PEG ratio of 2.06 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The business’s 50-day simple moving average is $195.43 and its 200-day simple moving average is $193.63.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. As a group, equities research analysts expect that Dover will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed 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 1.13%. Dover’s payout ratio is 10.59%.

Hedge Funds Weigh In On Dover

A number of large investors have recently modified their holdings of the business. Bannerman Wealth Management Group LLC purchased a new position in shares of Dover during the 4th quarter worth approximately $228,000. IronOak Wealth LLC. purchased a new position in shares of Dover during the 4th quarter worth approximately $340,000. Smith Shellnut Wilson LLC ADV raised its stake in shares of Dover by 9.8% during the 4th quarter. Smith Shellnut Wilson LLC ADV now owns 3,128 shares of the industrial products company’s stock worth $587,000 after buying an additional 278 shares in the last quarter. Siemens Fonds Invest GmbH raised its stake in shares of Dover by 12.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 2,642 shares of the industrial products company’s stock worth $492,000 after buying an additional 301 shares in the last quarter. Finally, BridgePort Financial Solutions LLC purchased a new position in shares of Dover during the 4th quarter worth approximately $370,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.