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

Dover (NYSE:DOV) had its price objective lifted by JPMorgan Chase & Co. from $208.00 to $230.00 in a research report report published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the industrial products company’s stock.

A number of other analysts also recently weighed in on the company. Wolfe Research upgraded 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. Wells Fargo & Company lifted their target price on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday. The Goldman Sachs Group increased their price target on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price objective (up previously from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Finally, StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $218.91.

Dover Trading Down 1.0 %

Shares of DOV stock opened at $203.42 on Friday. The stock has a 50-day moving average of $195.57 and a 200-day moving average of $190.34. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The stock has a market cap of $27.91 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 2.03 and a beta of 1.23. Dover has a 1-year low of $148.45 and a 1-year high of $214.57.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 earnings per share for the current year.

Dover Dividend Announcement

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

Institutional Trading of Dover

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versor Investments LP bought a new stake in Dover during the third quarter worth $1,920,000. Brendel Financial Advisors LLC raised its holdings in shares of Dover by 347.7% in the third quarter. Brendel Financial Advisors LLC now owns 22,772 shares of the industrial products company’s stock valued at $4,366,000 after purchasing an additional 17,685 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Dover by 195.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock valued at $17,077,000 after purchasing an additional 60,235 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Dover by 3.1% during the third quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock worth $34,100,000 after purchasing an additional 5,372 shares during the last quarter. Finally, Empowered Funds LLC grew its position in Dover by 54.3% in the 3rd quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock worth $2,523,000 after purchasing an additional 4,629 shares in the last quarter. 84.46% of the stock is owned by 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.