Dover (NYSE:DOV) Downgraded by StockNews.com

Dover (NYSE:DOVGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird cut their target price on Dover from $194.00 to $169.00 in a research note on Thursday, April 21st. Wells Fargo & Company dropped their price target on shares of Dover from $161.00 to $159.00 and set an “equal weight” rating on the stock in a research report on Friday, April 22nd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Dover from $187.00 to $182.00 and set a “hold” rating for the company in a research note on Thursday, April 14th. Morgan Stanley cut their price target on shares of Dover from $161.00 to $149.00 and set an “equal weight” rating for the company in a report on Tuesday, May 31st. Finally, Zacks Investment Research downgraded shares of Dover from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a report on Wednesday, March 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $172.83.

Shares of DOV stock traded down $1.91 during mid-day trading on Thursday, reaching $132.71. The stock had a trading volume of 647,070 shares, compared to its average volume of 906,455. Dover has a one year low of $127.04 and a one year high of $184.04. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.69. The firm’s 50 day simple moving average is $139.22 and its 200 day simple moving average is $157.18. The firm has a market cap of $19.13 billion, a PE ratio of 17.28, a P/E/G ratio of 1.14 and a beta of 1.42.

Dover (NYSE:DOVGet Rating) last posted its quarterly earnings results on Thursday, April 21st. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 27.82% and a net margin of 13.81%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the company earned $1.81 EPS. Sell-side analysts forecast that Dover will post 8.55 earnings per share for the current fiscal year.

In other Dover news, SVP David J. Malinas acquired 350 shares of the company’s stock in a transaction on Monday, April 25th. The shares were purchased at an average price of $139.44 per share, for a total transaction of $48,804.00. Following the completion of the purchase, the senior vice president now directly owns 2,744 shares of the company’s stock, valued at $382,623.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Anthony K. Kosinski sold 3,287 shares of the stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $153.43, for a total value of $504,324.41. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Dover by 1.3% in the first quarter. Vanguard Group Inc. now owns 16,895,470 shares of the industrial products company’s stock worth $2,650,899,000 after purchasing an additional 224,091 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Dover by 6.5% during the first quarter. JPMorgan Chase & Co. now owns 12,039,850 shares of the industrial products company’s stock worth $1,889,052,000 after purchasing an additional 731,961 shares during the period. BlackRock Inc. raised its stake in Dover by 0.5% in the first quarter. BlackRock Inc. now owns 10,761,653 shares of the industrial products company’s stock worth $1,688,503,000 after buying an additional 48,340 shares in the last quarter. Boston Partners raised its stake in Dover by 1.1% in the first quarter. Boston Partners now owns 4,304,635 shares of the industrial products company’s stock worth $675,288,000 after buying an additional 45,804 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Dover by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 2,656,593 shares of the industrial products company’s stock worth $481,176,000 after buying an additional 121,884 shares in the last quarter. Institutional investors and hedge funds own 84.14% of the company’s stock.

Dover Company Profile (Get Rating)

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides various equipment, component, software, solution, and services that are used in aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.

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Analyst Recommendations for Dover (NYSE:DOV)

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