Dover (NYSE:DOV) Stock Rating Upgraded by StockNews.com

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

DOV has been the subject of several other research reports. The Goldman Sachs Group boosted their target price on 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 set a $225.00 price target (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective 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. Barclays boosted their price objective on shares of Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company boosted their price objective on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Trading Down 4.1 %

DOV traded down $7.67 on Monday, hitting $177.97. The company had a trading volume of 1,608,840 shares, compared to its average volume of 887,463. The company has a market cap of $24.42 billion, a PE ratio of 9.15, a PEG ratio of 2.06 and a beta of 1.24. Dover has a 12-month low of $168.20 and a 12-month high of $222.31. 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 business’s fifty day simple moving average is $195.68 and its 200 day simple moving average is $193.73.

Dover (NYSE:DOV) last released 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 return on equity of 21.03% and a net margin of 32.95%. Equities research analysts expect that Dover will post 9.45 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Versor Investments LP acquired a new position in shares of Dover in the third quarter worth about $1,920,000. Wolverine Asset Management LLC raised its position in shares of 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. Assenagon Asset Management S.A. raised its position in shares of Dover by 195.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock worth $17,077,000 after purchasing an additional 60,235 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Dover by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock worth $34,100,000 after purchasing an additional 5,372 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in Dover by 54.3% in the 3rd quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock valued at $2,523,000 after acquiring an additional 4,629 shares during the last quarter. 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.