Barclays Issues Positive Forecast for Dover (NYSE:DOV) Stock Price

Dover (NYSE:DOV) had its target price upped by Barclays from $205.00 to $213.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

A number of other equities analysts also recently issued reports on DOV. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target for the company in a report on Monday, October 28th. Mizuho increased their target price on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company cut their price target on shares of Dover from $205.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. The Goldman Sachs Group upped their price objective on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. cut their target price on Dover from $212.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Stock Performance

Shares of Dover stock opened at $203.42 on Friday. The business has a 50-day simple moving average of $195.57 and a 200-day simple moving average of $190.34. The company has a market cap of $27.91 billion, a PE ratio of 18.19, a P/E/G ratio of 2.03 and a beta of 1.23. Dover has a one year low of $148.45 and a one year high of $214.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a net margin of 18.63% and a return on equity of 23.61%. On average, equities research analysts forecast that Dover will post 8.17 EPS for the current fiscal year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Friday, November 29th. Dover’s dividend payout ratio is presently 18.43%.

Hedge Funds Weigh In On Dover

Large investors have recently bought and sold shares of the company. Spire Wealth Management lifted its holdings in Dover by 2.1% in the fourth quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock valued at $464,000 after acquiring an additional 52 shares during the period. Independent Advisor Alliance lifted its stake in shares of Dover by 0.3% in the third quarter. Independent Advisor Alliance now owns 18,036 shares of the industrial products company’s stock valued at $3,458,000 after purchasing an additional 58 shares during the period. ORG Partners LLC boosted its holdings in Dover by 5.4% during the fourth quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock worth $214,000 after buying an additional 58 shares in the last quarter. Trust Point Inc. grew its position in Dover by 3.1% during the fourth quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock worth $367,000 after buying an additional 59 shares during the period. Finally, Main Street Financial Solutions LLC increased its holdings in Dover by 2.7% in the third quarter. Main Street Financial Solutions LLC now owns 2,255 shares of the industrial products company’s stock valued at $432,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

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.