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 brokerages that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $218.18.

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, January 31st. UBS Group cut their price target on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Citigroup decreased their price objective on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price objective (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. Finally, StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a research report on Wednesday.

Hedge Funds Weigh In On Dover

Hedge funds have recently bought and sold shares of the business. Financial Life Planners acquired a new position in shares of Dover during the 4th quarter worth approximately $28,000. R Squared Ltd purchased a new stake in Dover in the 4th quarter worth $34,000. EverSource Wealth Advisors LLC lifted its holdings in Dover by 79.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 87 shares in the last quarter. Kieckhefer Group LLC acquired a new stake in shares of Dover in the fourth quarter valued at about $38,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Dover during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of Dover stock opened at $174.63 on Monday. The firm has a market capitalization of $23.94 billion, a P/E ratio of 8.98, a PEG ratio of 2.06 and a beta of 1.24. Dover has a 52 week low of $168.20 and a 52 week high of $222.31. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The company has a 50 day moving average price of $193.63 and a 200 day moving average price of $193.56.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, hitting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. Sell-side analysts expect that Dover will post 9.45 EPS for the current year.

Dover Announces Dividend

The firm also recently announced 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. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Friday, February 28th. Dover’s dividend payout ratio (DPR) is presently 10.59%.

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.