Barclays Cuts Dover (NYSE:DOV) Price Target to $205.00

Dover (NYSE:DOV) had its target price cut by Barclays from $213.00 to $205.00 in a research note released on Wednesday morning, Marketbeat Ratings 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. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. 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. Wells Fargo & Company boosted their target price on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. The Goldman Sachs Group increased their price target on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Oppenheimer restated 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. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and a consensus target price of $218.18.

Dover Price Performance

DOV stock opened at $174.63 on Wednesday. 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 firm has a market cap of $23.94 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 2.06 and a beta of 1.24. The company’s fifty day simple moving average is $193.63 and its 200 day simple moving average is $193.56. Dover has a 12-month low of $168.20 and a 12-month high of $222.31.

Dover (NYSE:DOV) last released its earnings results 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 return on equity of 21.03% and a net margin of 32.95%. On average, analysts expect that Dover will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s dividend payout ratio is presently 10.59%.

Hedge Funds Weigh In On Dover

Several hedge funds have recently bought and sold shares of the company. Ecofi Investissements SA raised its holdings in shares of Dover by 1.1% during the fourth quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company’s stock valued at $765,000 after acquiring an additional 50 shares in the last quarter. Spire Wealth Management raised its holdings in Dover by 2.1% in the 4th quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock worth $464,000 after purchasing an additional 52 shares in the last quarter. ORG Partners LLC boosted its stake in shares of Dover by 5.4% during the 4th quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock valued at $214,000 after purchasing an additional 58 shares in the last quarter. Trust Point Inc. increased its position in shares of Dover by 3.1% during the fourth quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock valued at $367,000 after buying an additional 59 shares during the period. Finally, JGP Wealth Management LLC raised its stake in Dover by 0.8% in the fourth quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company’s stock worth $1,515,000 after buying an additional 62 shares in the last quarter. 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.