Dover (NYSE:DOV) Sets New 52-Week Low – Should You Sell?

Dover Co. (NYSE:DOV) shares hit a new 52-week low on Thursday . The company traded as low as $163.73 and last traded at $163.73, with a volume of 255647 shares trading hands. The stock had previously closed at $179.02.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DOV. Citigroup dropped their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research report on Monday, January 13th. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Barclays reduced their target price on Dover from $213.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. UBS Group cut their price objective on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Finally, Wells Fargo & Company raised their price objective on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $218.18.

Dover Stock Down 9.3 %

The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market cap of $22.26 billion, a P/E ratio of 8.36, a P/E/G ratio of 2.06 and a beta of 1.24. The company has a 50-day simple moving average of $192.41 and a two-hundred day simple moving average of $193.48.

Dover (NYSE:DOV) last announced its quarterly 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%. On average, equities analysts forecast that Dover Co. will post 9.45 EPS for the current year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s payout ratio is 10.59%.

Institutional Investors Weigh In On Dover

A number of large investors have recently made changes to their positions in DOV. Vanguard Group Inc. lifted its stake in Dover by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company’s stock worth $3,045,772,000 after acquiring an additional 57,453 shares during the period. State Street Corp increased its position in shares of Dover by 0.9% during the third quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock valued at $1,191,531,000 after buying an additional 56,149 shares during the period. Geode Capital Management LLC raised its stake in Dover by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company’s stock worth $618,068,000 after buying an additional 74,541 shares in the last quarter. FMR LLC lifted its holdings in Dover by 1.1% in the fourth quarter. FMR LLC now owns 3,118,391 shares of the industrial products company’s stock worth $585,010,000 after buying an additional 32,565 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its position in Dover by 31.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company’s stock valued at $409,530,000 after acquiring an additional 524,092 shares in the last quarter. 84.46% of the stock is currently 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.