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

Shares of Dover Co. (NYSE:DOV) have earned a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $218.91.

Several research analysts recently issued reports on DOV shares. Citigroup lowered their target price on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research report on Monday, January 13th. The Goldman Sachs Group raised their target price on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Wells Fargo & Company raised their target price on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Oppenheimer reissued an “outperform” rating and issued a $225.00 price objective (up from $220.00) on shares of Dover in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their price objective on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st.

Dover Trading Down 2.9 %

NYSE DOV opened at $192.99 on Thursday. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Dover has a twelve month low of $166.20 and a twelve month high of $222.31. The company has a market cap of $26.48 billion, a price-to-earnings ratio of 9.92, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The business’s fifty day moving average is $196.14 and its 200 day moving average is $193.61.

Dover (NYSE:DOV) last announced its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) 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, sell-side analysts expect that Dover will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s payout ratio is 10.59%.

Institutional Trading of Dover

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Dover by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company’s stock valued at $3,045,772,000 after buying an additional 57,453 shares in the last quarter. State Street Corp increased its position in 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 buying an additional 56,149 shares in the last quarter. Geode Capital Management LLC increased its position in Dover by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company’s stock valued at $618,068,000 after buying an additional 74,541 shares in the last quarter. FMR LLC boosted its stake in Dover by 1.1% during the 4th quarter. FMR LLC now owns 3,118,391 shares of the industrial products company’s stock valued at $585,010,000 after purchasing an additional 32,565 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in 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 valued at $409,530,000 after purchasing an additional 524,092 shares during the last quarter. 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.