Dover (NYSE:DOV) Price Target Raised to $190.00

by · The Cerbat Gem

Dover (NYSE:DOV – Free Report) had its price target boosted by Wells Fargo & Company from $180.00 to $190.00 in a research report released on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

A number of other research analysts also recently issued reports on the stock. Mizuho boosted their target price on shares of Dover from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, June 13th. Morgan Stanley started coverage on shares of Dover in a research report on Monday, April 14th. They set an “equal weight” rating and a $185.00 price objective on the stock. Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Robert W. Baird dropped their price target on Dover from $238.00 to $219.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Finally, Citigroup cut their price target on Dover from $244.00 to $201.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $206.50.

Get Our Latest Research Report on Dover

Dover Stock Performance

Shares of DOV opened at $187.23 on Tuesday. The company has a current ratio of 2.13, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36. The firm’s fifty day simple moving average is $178.64 and its two-hundred day simple moving average is $183.26. Dover has a 12 month low of $143.04 and a 12 month high of $222.31. The stock has a market capitalization of $25.67 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 1.81 and a beta of 1.26.

Dover (NYSE:DOV – Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.06. Dover had a return on equity of 19.54% and a net margin of 28.85%. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the business earned $1.95 EPS. The firm’s revenue was down .9% compared to the same quarter last year. As a group, analysts predict that Dover will post 9.45 EPS for the current year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Friday, May 30th. Dover’s dividend payout ratio is currently 12.41%.

Institutional Investors Weigh In On Dover

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. North Capital Inc. bought a new stake in shares of Dover in the first quarter valued at approximately $29,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Dover during the first quarter worth $31,000. Truvestments Capital LLC boosted its holdings in shares of Dover by 1,005.9% in the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 171 shares during the period. Costello Asset Management INC purchased a new position in shares of Dover in the first quarter valued at $35,000. Finally, Ransom Advisory Ltd bought a new stake in shares of Dover during the 1st quarter valued at $35,000. 84.46% of the stock is currently owned by institutional investors.

Dover Company Profile

(Get Free Report)

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.

Featured Articles