JPMorgan Chase & Co. Increases Dover (NYSE:DOV) Price Target to $230.00

Dover (NYSE:DOV) had its price objective boosted by JPMorgan Chase & Co. from $208.00 to $230.00 in a report published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

Other equities research analysts also recently issued research reports about the stock. Oppenheimer reiterated an “outperform” rating and set a $215.00 price target (up previously from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Citigroup cut their price target on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a report on Monday, January 13th. Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research report on Monday, October 28th. Barclays lifted their price objective on Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Royal Bank of Canada boosted their target price on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Price Performance

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

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 23.61% and a net margin of 18.63%. As a group, research analysts expect that Dover will post 8.17 EPS for the current fiscal year.

Dover Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new position in shares of Dover during the 2nd quarter valued at $3,175,000. Czech National Bank lifted its holdings in Dover by 6.9% during the 3rd quarter. Czech National Bank now owns 28,001 shares of the industrial products company’s stock worth $5,369,000 after purchasing an additional 1,812 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Dover by 167.7% during the 3rd quarter. SG Americas Securities LLC now owns 101,591 shares of the industrial products company’s stock worth $19,479,000 after purchasing an additional 63,638 shares in the last quarter. Burns J W & Co. Inc. NY purchased a new stake in Dover during the 3rd quarter worth about $302,000. Finally, Handelsbanken Fonder AB lifted its holdings in Dover by 15.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 39,522 shares of the industrial products company’s stock worth $7,578,000 after purchasing an additional 5,177 shares in the last quarter. Hedge funds and other 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.