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

Dover (NYSE:DOV) had its price objective lowered by JPMorgan Chase & Co. from $212.00 to $208.00 in a report released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

Several other research firms have also issued reports on DOV. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Citigroup dropped their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Mizuho increased their price target on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Oppenheimer restated an “outperform” rating and set a $215.00 target price (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group lifted their target price on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Five equities research 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, Dover presently has an average rating of “Moderate Buy” and an average target price of $212.55.

Dover Trading Up 0.3 %

Shares of DOV stock opened at $195.00 on Wednesday. Dover has a 1-year low of $144.63 and a 1-year high of $208.26. 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 $26.75 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 2.15 and a beta of 1.23. The stock has a 50-day moving average of $196.15 and a 200-day moving average of $188.95.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.06 annualized dividend and a yield of 1.06%. Dover’s payout ratio is 18.43%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC acquired a new position in Dover during the 2nd quarter valued at about $634,000. Dimensional Fund Advisors LP boosted its position in shares of Dover by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock valued at $271,702,000 after buying an additional 60,912 shares during the last quarter. Citizens Financial Group Inc. RI raised its position in Dover by 14.1% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 2,244 shares of the industrial products company’s stock valued at $405,000 after buying an additional 277 shares during the last quarter. Renaissance Technologies LLC bought a new position in Dover during the 2nd quarter valued at $2,995,000. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in Dover by 8.2% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 48,267 shares of the industrial products company’s stock worth $8,710,000 after acquiring an additional 3,657 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.