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 report published on Tuesday.

DOV has been the topic of several other reports. Mizuho upped 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. Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price on the stock in a research note on Monday, October 28th. UBS Group cut their target price on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. The Goldman Sachs Group upped their target price on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. upped their target price on shares of Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Stock Performance

Shares of DOV stock opened at $203.13 on Tuesday. The firm’s 50 day moving average price is $195.44 and its 200-day moving average price is $190.59. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. Dover has a one year low of $156.59 and a one year high of $222.31. The firm has a market cap of $27.87 billion, a P/E ratio of 10.44, a P/E/G ratio of 2.07 and a beta of 1.24.

Dover (NYSE:DOV) last issued its quarterly earnings data 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 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 EPS for the current year.

Dover Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Crestwood Advisors Group LLC boosted its holdings in shares of Dover by 1.4% in the 4th quarter. Crestwood Advisors Group LLC now owns 5,279 shares of the industrial products company’s stock valued at $990,000 after buying an additional 75 shares in the last quarter. Asset Advisors Investment Management LLC grew its position in Dover by 1.1% during the 4th quarter. Asset Advisors Investment Management LLC now owns 100,140 shares of the industrial products company’s stock worth $18,786,000 after purchasing an additional 1,061 shares during the last quarter. Fisher Funds Management LTD purchased a new position in Dover during the 4th quarter worth $3,865,000. Hudson Edge Investment Partners Inc. grew its position in Dover by 2.0% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 34,082 shares of the industrial products company’s stock worth $6,394,000 after purchasing an additional 660 shares during the last quarter. Finally, Wolverine Asset Management LLC grew its position 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 during the last quarter. Institutional investors and hedge funds 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.