Dover (NYSE:DOV) Lowered to Hold Rating by StockNews.com

Dover (NYSE:DOV) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other equities analysts have also commented on DOV. Barclays dropped their price target on shares of Dover from $213.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Wednesday. The Goldman Sachs Group upped their target price on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price objective (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. UBS Group decreased their target price on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Finally, Citigroup lowered their price target on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.18.

Dover Trading Down 2.0 %

Shares of NYSE:DOV traded down $3.73 during midday trading on Wednesday, reaching $182.01. The company had a trading volume of 1,020,645 shares, compared to its average volume of 884,976. The company has a fifty day simple moving average of $194.34 and a two-hundred day simple moving average of $193.69. 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 firm has a market cap of $24.98 billion, a price-to-earnings ratio of 9.36, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. Dover has a 1-year low of $168.20 and a 1-year high of $222.31.

Dover (NYSE:DOV) last posted its quarterly earnings results 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%. Research analysts predict that Dover will post 9.45 earnings per share for the current year.

Hedge Funds Weigh In On Dover

A number of institutional investors have recently bought and sold shares of DOV. Vanguard Group Inc. lifted its position in Dover by 0.4% during 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 last quarter. State Street Corp lifted its stake in Dover by 0.9% during the third quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock worth $1,191,531,000 after purchasing an additional 56,149 shares during the last quarter. Geode Capital Management LLC boosted 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 valued at $618,068,000 after buying an additional 74,541 shares in the last quarter. FMR LLC boosted its stake in shares of Dover by 1.1% in the 4th quarter. FMR LLC now owns 3,118,391 shares of the industrial products company’s stock valued at $585,010,000 after purchasing an additional 32,565 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of Dover by 31.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company’s stock worth $409,530,000 after buying an additional 524,092 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.