Brokerages Set Dover Co. (NYSE:DOV) Target Price at $218.91

Dover Co. (NYSE:DOV) has been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $218.91.

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price objective on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Wells Fargo & Company increased their price target on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Royal Bank of Canada lifted their price objective on shares of Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their target price on shares of Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, UBS Group lowered their price target on Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a report on Friday, January 31st.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its holdings in shares of Dover by 67.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 12,162 shares of the industrial products company’s stock valued at $2,332,000 after purchasing an additional 4,895 shares in the last quarter. Private Advisor Group LLC grew its position in Dover by 3.7% during the third quarter. Private Advisor Group LLC now owns 9,139 shares of the industrial products company’s stock worth $1,752,000 after buying an additional 324 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Dover during the 3rd quarter valued at approximately $14,459,000. Allworth Financial LP boosted its stake in shares of Dover by 17.7% during the 3rd quarter. Allworth Financial LP now owns 2,493 shares of the industrial products company’s stock worth $478,000 after acquiring an additional 375 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Dover by 20.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,108 shares of the industrial products company’s stock worth $2,913,000 after acquiring an additional 2,565 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Price Performance

Shares of NYSE:DOV opened at $189.91 on Thursday. Dover has a 12 month low of $167.87 and a 12 month high of $222.31. The firm has a market capitalization of $26.06 billion, a P/E ratio of 9.76, a P/E/G ratio of 2.06 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The company’s fifty day moving average price is $196.00 and its 200 day moving average price is $193.61.

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

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.515 dividend. The ex-dividend date is Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.08%. Dover’s dividend payout ratio (DPR) is presently 10.59%.

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.