Citigroup Has Lowered Expectations for Dover (NYSE:DOV) Stock Price

Dover (NYSE:DOV) had its price objective trimmed by Citigroup from $236.00 to $222.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other analysts also recently commented on the company. JPMorgan Chase & Co. upped their price objective on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Wells Fargo & Company reduced their price objective on Dover from $205.00 to $200.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. UBS Group initiated coverage on Dover in a research note on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price objective for the company. Finally, Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a research note on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $212.55.

Dover Trading Up 1.1 %

NYSE:DOV opened at $190.88 on Monday. The stock has a 50-day simple moving average of $196.66 and a 200-day simple moving average of $188.77. The stock has a market cap of $26.19 billion, a P/E ratio of 17.07, a P/E/G ratio of 2.70 and a beta of 1.23. Dover has a 1 year low of $143.96 and a 1 year 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.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, November 29th. Dover’s dividend payout ratio is currently 18.43%.

Institutional Investors Weigh In On Dover

Institutional investors and hedge funds have recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Dover in the 3rd quarter worth approximately $33,000. Fairscale Capital LLC acquired a new stake in shares of Dover in the 2nd quarter worth approximately $34,000. Kieckhefer Group LLC acquired a new stake in shares of Dover in the 4th quarter worth approximately $38,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Dover in the 2nd quarter worth approximately $41,000. Finally, Avior Wealth Management LLC grew its holdings in shares of Dover by 183.5% in the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 167 shares during the period. Institutional investors and hedge funds 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.