Dover (NYSE:DOV) Price Target Raised to $213.00

Dover (NYSE:DOV) had its price objective boosted by Barclays from $205.00 to $213.00 in a research note released on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

A number of other equities research analysts have also weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a report on Monday, October 28th. Citigroup decreased their price objective on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a report on Monday, January 13th. UBS Group began coverage on shares of Dover in a report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price objective for the company. Finally, Wells Fargo & Company decreased their price objective on shares of Dover from $205.00 to $200.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and an average target price of $218.91.

Dover Stock Performance

Shares of DOV opened at $203.42 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. The company has a market capitalization of $27.91 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 2.03 and a beta of 1.23. The company’s 50 day simple moving average is $195.57 and its 200 day simple moving average is $190.34. Dover has a 1 year low of $148.45 and a 1 year high of $214.57.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a net margin of 18.63% and a return on equity of 23.61%. On average, sell-side analysts predict that Dover will post 8.17 EPS for the current year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Friday, November 29th. Dover’s payout ratio is 18.43%.

Hedge Funds Weigh In On Dover

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Spire Wealth Management increased its position in Dover by 2.1% during the fourth quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock worth $464,000 after acquiring an additional 52 shares during the period. Independent Advisor Alliance lifted its position in Dover by 0.3% during the 3rd quarter. Independent Advisor Alliance now owns 18,036 shares of the industrial products company’s stock worth $3,458,000 after buying an additional 58 shares in the last quarter. ORG Partners LLC lifted its position in Dover by 5.4% during the 4th quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock worth $214,000 after buying an additional 58 shares in the last quarter. Trust Point Inc. lifted its position in Dover by 3.1% during the 4th quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock valued at $367,000 after purchasing an additional 59 shares during the period. Finally, Main Street Financial Solutions LLC lifted its position in Dover by 2.7% during the 3rd quarter. Main Street Financial Solutions LLC now owns 2,255 shares of the industrial products company’s stock valued at $432,000 after purchasing an additional 60 shares during the period. Institutional investors own 84.46% of the company’s stock.

About Dover

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.