Dover (NYSE:DOV) Upgraded by StockNews.com to “Buy” Rating

by · The Markets Daily

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

A number of other analysts also recently weighed in on the stock. Mizuho upped their target price on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research report on Monday, October 28th. JPMorgan Chase & Co. lifted their target price on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Wells Fargo & Company boosted their target price on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Finally, Oppenheimer restated an “outperform” rating and issued a $215.00 price target (up from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Dover has an average rating of “Moderate Buy” and a consensus target price of $213.91.

Read Our Latest Report on DOV

Dover Trading Up 0.2 %

Shares of DOV opened at $189.27 on Thursday. The stock has a market capitalization of $25.97 billion, a PE ratio of 16.93, a P/E/G ratio of 2.70 and a beta of 1.22. The company’s fifty day moving average is $197.83 and its 200 day moving average is $187.76. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. Dover has a fifty-two week low of $143.96 and a fifty-two week high of $208.26.

Dover Dividend Announcement

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

Institutional Investors Weigh In On Dover

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. increased its position in shares of Dover by 4,400.0% during the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 176 shares during the period. Ashton Thomas Securities LLC bought a new position in Dover in the third quarter worth approximately $33,000. Fairscale Capital LLC purchased a new position in Dover during the 2nd quarter worth $34,000. Ashton Thomas Private Wealth LLC bought a new stake in Dover during the 2nd quarter valued at $41,000. Finally, Avior Wealth Management LLC lifted 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 worth $49,000 after buying an additional 167 shares during the period. Institutional investors own 84.46% of the company’s stock.

About Dover

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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.

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