Dover (NYSE:DOV) Cut to "Hold (C+)" at Weiss Ratings

Key Points

• Dover's stock has been downgraded from a "buy (B-)" rating to a "hold (C+)" by Weiss Ratings.
• Barclays, Royal Bank of Canada, and Wells Fargo have recently adjusted their price targets for Dover, with an average price target now around $212.00.
• Institutional investors own 84.46% of Dover's shares, highlighting strong interest from large financial entities.

Dover (NYSE:DOV - Get Free Report) was downgraded by stock analysts at Weiss Ratings from a "buy (b-)" rating to a "hold (c+)" rating in a research note issued on Friday,Weiss Ratings reports.

A number of other research analysts have also weighed in on the company. Barclays upped their price objective on Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a report on Friday. Robert W. Baird set a $235.00 price objective on Dover in a report on Friday. Royal Bank Of Canada upped their price objective on Dover from $183.00 to $198.00 and gave the stock a "sector perform" rating in a report on Friday. Oppenheimer dropped their price objective on Dover from $225.00 to $220.00 and set an "outperform" rating on the stock in a report on Monday, October 20th. Finally, Wells Fargo & Company upped their price objective on Dover from $180.00 to $190.00 and gave the stock an "equal weight" rating in a report on Friday. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $212.00.

Dover Price Performance

Dover stock opened at $177.64 on Friday. Dover has a 12 month low of $143.04 and a 12 month high of $222.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. The business has a 50 day simple moving average of $172.13 and a 200-day simple moving average of $175.85. The stock has a market capitalization of $24.36 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 1.43 and a beta of 1.26.

Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. Dover had a return on equity of 17.91% and a net margin of 28.37%.The business had revenue of $1.78 billion during the quarter. Equities analysts predict that Dover will post 9.45 earnings per share for the current year.

Institutional Trading of Dover

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Dover by 1.4% during the second quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company's stock valued at $3,036,722,000 after acquiring an additional 231,146 shares during the last quarter. State Street Corp boosted its stake in shares of Dover by 2.7% during the second quarter. State Street Corp now owns 6,447,149 shares of the industrial products company's stock valued at $1,181,311,000 after acquiring an additional 171,934 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Dover by 1.0% during the second quarter. Geode Capital Management LLC now owns 3,453,121 shares of the industrial products company's stock valued at $629,996,000 after acquiring an additional 33,539 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Dover during the first quarter valued at $526,081,000. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of Dover by 10.6% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,376,279 shares of the industrial products company's stock valued at $435,406,000 after acquiring an additional 227,653 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.