Dover (NYSE:DOV) Price Target Lowered to $208.00 at JPMorgan Chase & Co.

Dover (NYSE:DOV) had its price target reduced by JPMorgan Chase & Co. from $212.00 to $208.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other research analysts have also commented on the company. Mizuho upped their price target on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Citigroup reduced their price objective on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research report on Monday. Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 target price (up from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Finally, Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target for the company in a research note on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $212.55.

Dover Price Performance

Shares of Dover stock opened at $190.88 on Wednesday. The firm has a market cap of $26.19 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 2.15 and a beta of 1.23. The company’s fifty day simple moving average is $196.43 and its two-hundred day simple moving average is $188.79. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. Dover has a 12-month low of $143.96 and a 12-month high of $208.26.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.515 per share. 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 payout ratio is 18.43%.

Hedge Funds Weigh In On Dover

Hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of Dover in the 3rd quarter worth $33,000. Fairscale Capital LLC bought a new stake in Dover in the 2nd quarter worth about $34,000. Kieckhefer Group LLC purchased a new position in Dover in the 4th quarter worth about $38,000. Avior Wealth Management LLC boosted its holdings in shares of Dover by 183.5% during the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 167 shares during the last quarter. Finally, Coastline Trust Co bought a new stake in shares of Dover in the third quarter worth approximately $50,000. 84.46% of the stock is currently 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.