Dover (NYSE:DOV) Given New $223.00 Price Target at The Goldman Sachs Group

Dover (NYSE:DOV) had its target price boosted by The Goldman Sachs Group from $202.00 to $223.00 in a research report released on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the industrial products company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Oppenheimer restated an “outperform” rating and issued a $215.00 price target (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday. Wolfe Research raised 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. UBS Group assumed coverage on Dover in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 price objective for the company. Finally, Citigroup boosted their target price on Dover from $226.00 to $236.00 and gave the company a “buy” rating in a research report on Monday. 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $213.91.

Dover Stock Performance

Shares of NYSE DOV opened at $201.36 on Thursday. The company has a market cap of $27.62 billion, a P/E ratio of 18.01, a P/E/G ratio of 2.70 and a beta of 1.22. Dover has a 52-week low of $143.96 and a 52-week high of $208.26. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. The firm’s fifty day moving average is $197.08 and its two-hundred day moving average is $187.28.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Friday, November 29th. Dover’s dividend payout ratio (DPR) is 18.43%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DOV. State Street Corp lifted its position in Dover by 0.9% during the 3rd quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock worth $1,191,531,000 after acquiring an additional 56,149 shares during the period. Geode Capital Management LLC boosted its position in Dover by 0.8% in 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 buying an additional 25,993 shares during the last quarter. FMR LLC increased its holdings in Dover by 5.1% in the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after buying an additional 149,378 shares during the period. Dimensional Fund Advisors LP raised its position in Dover by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock worth $271,702,000 after buying an additional 60,912 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Dover by 1.8% during 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 acquiring an additional 17,193 shares during the period. Hedge funds and other 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.