Wells Fargo & Company Issues Positive Forecast for Dover (NYSE:DOV) Stock Price

Dover (NYSE:DOV) had its target price lifted by Wells Fargo & Company from $200.00 to $215.00 in a research note released on Friday morning,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

A number of other analysts have also recently weighed in on the stock. UBS Group started coverage on shares of Dover in a report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price objective on the stock. Mizuho lifted their target price on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. The Goldman Sachs Group raised their price target on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Finally, Barclays upped their target price on shares of Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a report on Friday. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Stock Down 1.0 %

Shares of NYSE DOV opened at $203.42 on Friday. Dover has a 1 year low of $148.45 and a 1 year high of $214.57. The company has a market capitalization of $27.91 billion, a P/E ratio of 18.19, a P/E/G ratio of 2.03 and a beta of 1.23. The company has a 50 day simple moving average of $195.57 and a 200-day simple moving average of $190.34. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 23.61% and a net margin of 18.63%. On average, equities research analysts predict that Dover will post 8.17 earnings per share for the current year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.515 dividend. The ex-dividend date was Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.01%. Dover’s dividend payout ratio (DPR) is 18.43%.

Institutional Investors Weigh In On Dover

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Life Planners acquired a new stake in shares of Dover in the 4th quarter valued at about $28,000. Ashton Thomas Securities LLC bought a new stake in shares of Dover in the 3rd quarter valued at approximately $33,000. R Squared Ltd acquired a new stake in shares of Dover during the 4th quarter valued at approximately $34,000. Kieckhefer Group LLC bought a new position in Dover during the fourth quarter worth $38,000. Finally, Golden State Wealth Management LLC bought a new stake in Dover during the fourth quarter valued at $46,000. 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.