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

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

DOV has been the subject of a number of other research reports. Seaport Res Ptn raised shares of Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Barclays boosted their price target on Dover from $150.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Monday, February 5th. Wells Fargo & Company lifted their target price on shares of Dover from $140.00 to $167.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 19th. Royal Bank of Canada upped their price target on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Finally, Citigroup lifted their price objective on shares of Dover from $167.00 to $173.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $167.60.

Dover Stock Down 0.8 %

Shares of NYSE:DOV traded down $1.49 during trading hours on Friday, hitting $176.41. The company’s stock had a trading volume of 994,258 shares, compared to its average volume of 968,919. The company has a market capitalization of $24.68 billion, a price-to-earnings ratio of 23.46, a P/E/G ratio of 1.79 and a beta of 1.27. Dover has a 52 week low of $127.25 and a 52 week high of $178.28. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.40 and a quick ratio of 0.90. The firm’s fifty day moving average price is $161.89 and its 200 day moving average price is $148.60.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.01. Dover had a return on equity of 25.95% and a net margin of 12.52%. The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the business posted $2.16 EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, research analysts expect that Dover will post 9.07 EPS for the current year.

Insider Activity at Dover

In other news, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the sale, the chief financial officer now directly owns 17,909 shares of the company’s stock, valued at approximately $3,164,699.39. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Brad M. Cerepak sold 6,000 shares of Dover stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total value of $1,060,260.00. Following the sale, the chief financial officer now owns 17,909 shares of the company’s stock, valued at approximately $3,164,699.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the transaction, the chief financial officer now directly owns 23,909 shares in the company, valued at $3,897,406.09. The disclosure for this sale can be found here. Insiders sold a total of 25,910 shares of company stock worth $4,318,059 in the last three months. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Dover

Several hedge funds and other institutional investors have recently made changes to their positions in DOV. Legacy Financial Advisors Inc. raised its holdings in Dover by 1.7% in the 4th quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock valued at $577,000 after acquiring an additional 63 shares during the last quarter. BOKF NA lifted its position in Dover by 0.7% during the fourth quarter. BOKF NA now owns 10,057 shares of the industrial products company’s stock worth $1,547,000 after buying an additional 68 shares in the last quarter. Manchester Capital Management LLC grew its holdings in Dover by 4.1% in the 4th quarter. Manchester Capital Management LLC now owns 1,752 shares of the industrial products company’s stock valued at $269,000 after buying an additional 69 shares in the last quarter. CX Institutional increased its stake in shares of Dover by 1.5% in the 4th quarter. CX Institutional now owns 4,933 shares of the industrial products company’s stock worth $759,000 after acquiring an additional 72 shares during the last quarter. Finally, First Commonwealth Financial Corp PA raised its holdings in shares of Dover by 2.6% during the 4th quarter. First Commonwealth Financial Corp PA now owns 3,176 shares of the industrial products company’s stock worth $430,000 after acquiring an additional 80 shares during the period. Hedge funds and other institutional investors own 83.97% 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.