Dover (NYSE:DOV) Given New $200.00 Price Target at Wells Fargo & Company

Dover (NYSE:DOV) had its target price trimmed by Wells Fargo & Company from $205.00 to $200.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

A number of other analysts also recently commented on DOV. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price objective (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a report on Monday, October 28th. Barclays raised their price objective on shares of Dover from $190.00 to $205.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. increased their price target on shares of Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Citigroup lifted their price objective on Dover from $226.00 to $236.00 and gave the company a “buy” rating in a report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.18.

Dover Stock Performance

NYSE:DOV opened at $186.99 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. The firm’s 50-day moving average is $196.88 and its 200-day moving average is $188.53. Dover has a 52-week low of $143.96 and a 52-week high of $208.26. The company has a market cap of $25.65 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 2.70 and a beta of 1.23.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid 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 1.10%. Dover’s dividend payout ratio (DPR) is presently 18.43%.

Institutional Investors Weigh In On Dover

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new stake in shares of Dover during the third quarter valued at approximately $33,000. Fairscale Capital LLC bought a new position in Dover in the 2nd quarter valued at $34,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Dover in the 2nd quarter valued at $41,000. Avior Wealth Management LLC raised its position in shares of Dover by 183.5% during the third 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 last quarter. Finally, Coastline Trust Co acquired a new position in shares of Dover during the third quarter valued at $50,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

About Dover

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.