StockNews.com Downgrades Dover (NYSE:DOV) to Hold

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

DOV has been the topic of a number of other reports. UBS Group initiated coverage on Dover in a research report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price target on the stock. Oppenheimer restated an “outperform” rating and issued a $215.00 price target (up previously from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Citigroup boosted their price objective on Dover from $226.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. lifted their target price on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target for the company in a research note on Monday, October 28th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $213.00.

Dover Stock Performance

Shares of NYSE:DOV traded down $0.17 on Wednesday, reaching $201.14. 513,950 shares of the company’s stock were exchanged, compared to its average volume of 940,543. Dover has a fifty-two week low of $143.96 and a fifty-two week high of $208.26. The business’s 50-day moving average is $196.85 and its two-hundred day moving average is $187.18. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $27.59 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 2.71 and a beta of 1.22.

Hedge Funds Weigh In On Dover

A number of institutional investors have recently modified their holdings of DOV. Independent Advisor Alliance raised its stake in Dover by 0.3% during the 3rd quarter. Independent Advisor Alliance now owns 18,036 shares of the industrial products company’s stock valued at $3,458,000 after purchasing an additional 58 shares during the last quarter. Main Street Financial Solutions LLC boosted its stake in Dover by 2.7% during the third quarter. Main Street Financial Solutions LLC now owns 2,255 shares of the industrial products company’s stock worth $432,000 after buying an additional 60 shares in the last quarter. Valmark Advisers Inc. increased its holdings in Dover by 1.6% in the 2nd quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock valued at $715,000 after buying an additional 63 shares during the period. Empower Advisory Group LLC lifted its holdings in shares of Dover by 3.7% during the 3rd quarter. Empower Advisory Group LLC now owns 2,030 shares of the industrial products company’s stock worth $389,000 after acquiring an additional 73 shares during the period. Finally, First Commonwealth Financial Corp PA boosted its position in shares of Dover by 2.2% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 3,459 shares of the industrial products company’s stock valued at $663,000 after acquiring an additional 73 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

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.