Dover (NYSE:DOV) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Dover (NYSE:DOV) from a hold rating to a buy rating in a research note published on Thursday.

A number of other research analysts have also weighed in on the stock. The Goldman Sachs Group raised 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. Barclays lifted their price objective on Dover from $190.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Mizuho upped their target price on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Citigroup lifted their price target on Dover from $226.00 to $236.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Oppenheimer reissued an “outperform” rating and set a $215.00 price target (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.91.

Dover Price Performance

Shares of NYSE DOV opened at $188.94 on Thursday. The stock has a market capitalization of $25.92 billion, a price-to-earnings ratio of 16.90, a price-to-earnings-growth ratio of 2.70 and a beta of 1.22. Dover has a 52 week low of $143.96 and a 52 week high of $208.26. The firm has a 50-day simple moving average of $197.86 and a 200-day simple moving average of $187.70. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, November 29th. Dover’s dividend payout ratio is presently 18.43%.

Hedge Funds Weigh In On Dover

Several large investors have recently made changes to their positions in DOV. American Century Companies Inc. raised its position in Dover by 162.2% in the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock valued at $124,195,000 after purchasing an additional 425,768 shares during the period. Interval Partners LP raised its holdings in shares of Dover by 110.0% in the 2nd quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock valued at $105,216,000 after buying an additional 305,436 shares during the period. FMR LLC lifted its stake in Dover by 5.1% during the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after acquiring an additional 149,378 shares in the last quarter. National Bank of Canada FI boosted its holdings in Dover by 313.7% during the 3rd quarter. National Bank of Canada FI now owns 191,127 shares of the industrial products company’s stock valued at $36,647,000 after acquiring an additional 144,930 shares during the period. Finally, Kimelman & Baird LLC acquired a new position in Dover in the 2nd quarter valued at about $17,323,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.