Dover (NYSE:DOV) Price Target Lowered to $205.00 at Barclays

Dover (NYSE:DOV) had its target price lowered by Barclays from $213.00 to $205.00 in a research note published on Wednesday morning, Marketbeat Ratings reports. The firm currently has an equal weight rating on the industrial products company’s stock.

Several other research analysts also recently commented on the company. JPMorgan Chase & Co. boosted their target price on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Citigroup lowered their price objective on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research report on Monday, January 13th. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. The Goldman Sachs Group upped their price target on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, UBS Group cut their price objective on Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $218.18.

Dover Stock Performance

Shares of Dover stock opened at $182.01 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The company has a market cap of $24.98 billion, a PE ratio of 9.36, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The company has a 50 day moving average of $194.34 and a 200-day moving average of $193.69. Dover has a 1-year low of $168.20 and a 1-year high of $222.31.

Dover (NYSE:DOV) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. As a group, equities research analysts forecast that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.515 per share. The ex-dividend date was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.13%. Dover’s dividend payout ratio (DPR) is 10.59%.

Institutional Investors Weigh In On Dover

Institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Dover during the fourth quarter worth approximately $316,228,000. Balyasny Asset Management L.P. bought a new position in shares of Dover during the 4th quarter worth approximately $99,017,000. Adage Capital Partners GP L.L.C. grew its position in shares of Dover by 31.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company’s stock worth $409,530,000 after buying an additional 524,092 shares during the period. Woodline Partners LP increased its stake in shares of Dover by 352.9% in the 4th quarter. Woodline Partners LP now owns 385,180 shares of the industrial products company’s stock valued at $72,260,000 after acquiring an additional 300,124 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Dover by 16.6% during the 4th quarter. Northern Trust Corp now owns 1,726,523 shares of the industrial products company’s stock valued at $323,896,000 after acquiring an additional 245,535 shares during the period. 84.46% of the stock is owned by 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.