Dover (NYSE:DOV) Price Target Raised to $230.00 at JPMorgan Chase & Co.

Dover (NYSE:DOV) had its price target increased by research analysts at JPMorgan Chase & Co. from $208.00 to $230.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 11.67% from the stock’s previous close.

Several other equities analysts have also commented on the company. Royal Bank of Canada raised 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. The Goldman Sachs Group boosted their price target on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Barclays lifted their price objective on shares of Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a report on Friday. Mizuho upped their target price on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price on the stock in a research report on Monday, October 28th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $219.45.

Dover Trading Up 0.3 %

DOV traded up $0.54 on Friday, reaching $205.96. 398,986 shares of the company traded hands, compared to its average volume of 830,356. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The company has a market cap of $28.26 billion, a P/E ratio of 18.50, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23. The firm has a fifty day simple moving average of $195.60 and a two-hundred day simple moving average of $190.22. Dover has a one year low of $148.45 and a one year high of $214.57.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (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%. As a group, equities research analysts expect that Dover will post 8.17 earnings per share for the current year.

Institutional Investors Weigh In On Dover

A number of large investors have recently made changes to their positions in the stock. Truist Financial Corp lifted its holdings in shares of Dover by 1.2% during the fourth quarter. Truist Financial Corp now owns 47,911 shares of the industrial products company’s stock worth $8,988,000 after purchasing an additional 576 shares during the period. CIBC Asset Management Inc grew its stake in shares of Dover by 4.2% during the 4th quarter. CIBC Asset Management Inc now owns 21,445 shares of the industrial products company’s stock worth $4,023,000 after purchasing an additional 858 shares during the period. Catalyst Capital Advisors LLC purchased a new position in shares of Dover during the 4th quarter valued at approximately $68,000. Game Plan Financial Advisors LLC boosted its holdings in Dover by 11.0% during the fourth quarter. Game Plan Financial Advisors LLC now owns 8,584 shares of the industrial products company’s stock worth $1,604,000 after buying an additional 852 shares in the last quarter. Finally, Allworth Financial LP grew its position in Dover by 10.3% during the fourth quarter. Allworth Financial LP now owns 2,751 shares of the industrial products company’s stock valued at $547,000 after buying an additional 258 shares during the period. 84.46% of the stock is owned by hedge funds and other 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.