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

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

A number of other equities research analysts have also recently weighed in on DOV. JPMorgan Chase & Co. decreased their price objective on Dover from $212.00 to $208.00 and set an “overweight” rating for the company in a research note on Wednesday. The Goldman Sachs Group increased their price target on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 price objective (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. UBS Group assumed coverage on shares of Dover in a research report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 target price for the company. Finally, Wells Fargo & Company lowered their target price on shares of Dover from $205.00 to $200.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $212.55.

Dover Stock Up 1.1 %

Dover stock traded up $2.08 during mid-day trading on Wednesday, reaching $190.88. 843,414 shares of the company were exchanged, compared to its average volume of 766,013. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. The firm has a market cap of $26.19 billion, a P/E ratio of 17.07, a PEG ratio of 2.70 and a beta of 1.23. The business has a fifty day moving average of $196.66 and a 200 day moving average of $188.77. Dover has a 12-month low of $143.96 and a 12-month high of $208.26.

Institutional Trading of Dover

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Dover during the third quarter worth about $33,000. Fairscale Capital LLC purchased a new position in Dover during the 2nd quarter worth approximately $34,000. Kieckhefer Group LLC acquired a new stake in Dover during the 4th quarter valued at approximately $38,000. Avior Wealth Management LLC boosted its holdings in shares of Dover by 183.5% in the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 167 shares during the last quarter. Finally, Coastline Trust Co acquired a new stake in shares of Dover in the third quarter worth $50,000. Institutional investors and hedge funds 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.