Dover (NYSE:DOV) Downgraded to "Hold" Rating by StockNews.com

Dover (NYSE:DOV - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Wednesday.

Several other analysts have also recently issued reports on the stock. Wolfe Research upgraded shares of Dover from a "peer perform" rating to an "outperform" rating and set a $227.00 target price on the stock in a research report on Monday, October 28th. JPMorgan Chase & Co. lowered their price objective on Dover from $212.00 to $208.00 and set an "overweight" rating for the company in a research note on Wednesday. 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. UBS Group began coverage on Dover in a report on Wednesday, November 13th. They set a "neutral" rating and a $217.00 price target on the stock. Finally, Mizuho lifted their price objective on shares of Dover from $200.00 to $220.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $212.55.

Dover Price Performance

DOV traded up $2.08 during trading hours on Wednesday, hitting $190.88. The company's stock had a trading volume of 843,414 shares, compared to its average volume of 766,013. Dover has a 12 month low of $143.96 and a 12 month high of $208.26. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The business's 50-day moving average price is $196.66 and its 200-day moving average price is $188.77. The stock has a market cap of $26.19 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 2.70 and a beta of 1.23.

Institutional Investors Weigh In On Dover

Several large investors have recently added to or reduced their stakes in DOV. Ashton Thomas Securities LLC purchased a new position in shares of Dover during the third quarter worth approximately $33,000. Fairscale Capital LLC purchased a new position in Dover during the 2nd quarter worth $34,000. Kieckhefer Group LLC bought a new stake in Dover during the 4th quarter valued at $38,000. 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. Finally, Coastline Trust Co bought a new position in shares of Dover during the 3rd quarter worth $50,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.

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