Dover (NYSE:DOV) Price Target Cut to $211.00 by Analysts at UBS Group

Dover (NYSE:DOV) had its target price cut by UBS Group from $217.00 to $211.00 in a research note released on Friday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

A number of other research firms have also commented on DOV. JPMorgan Chase & Co. raised their price objective on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday. Royal Bank of Canada boosted their price target on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research note on Monday, October 28th. Barclays boosted their target price on shares of Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Oppenheimer reissued an “outperform” rating and issued a $225.00 price objective (up from $220.00) on shares of Dover in a research note on Friday. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Stock Performance

NYSE DOV opened at $203.42 on Friday. The stock has a market cap of $27.91 billion, a PE ratio of 18.19, a P/E/G ratio of 2.03 and a beta of 1.23. 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 52-week low of $148.45 and a 52-week high of $214.57. The firm has a 50-day moving average of $195.57 and a 200-day moving average of $190.34.

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

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors 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 dividend payout ratio is currently 18.43%.

Institutional Trading of Dover

A number of institutional investors have recently bought and sold shares of the company. State Street Corp increased its stake in shares of Dover by 0.9% in the 3rd quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock valued at $1,191,531,000 after acquiring an additional 56,149 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Dover by 0.8% during the third quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock valued at $616,945,000 after purchasing an additional 25,993 shares during the period. FMR LLC boosted its position in shares of Dover by 5.1% during the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after purchasing an additional 149,378 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Dover by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,743 shares of the industrial products company’s stock valued at $188,815,000 after buying an additional 17,193 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Dover by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 811,340 shares of the industrial products company’s stock worth $155,566,000 after buying an additional 9,464 shares during the period. Institutional investors 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.