Dover Co. (NYSE:DOV) Receives $218.91 Average Target Price from Brokerages

Dover Co. (NYSE:DOV) has earned a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $218.18.

Several analysts have commented on DOV shares. Barclays reduced their price objective on Dover from $213.00 to $205.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price target (up previously from $220.00) on shares of Dover in a report on Friday, January 31st. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. The Goldman Sachs Group lifted their price target on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, UBS Group dropped their price objective on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st.

Dover Price Performance

DOV stock opened at $174.63 on Monday. The company has a market capitalization of $23.94 billion, a PE ratio of 8.98, a P/E/G ratio of 2.06 and a beta of 1.24. Dover has a 12-month low of $168.20 and a 12-month high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The business’s fifty day moving average price is $193.63 and its 200 day moving average price is $193.72.

Dover (NYSE:DOV) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, sell-side analysts anticipate that Dover will post 9.45 EPS for the current year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s dividend payout ratio is presently 10.59%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Dover by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company’s stock worth $3,045,772,000 after acquiring an additional 57,453 shares during the last quarter. State Street Corp boosted its holdings in shares of Dover by 0.9% during the third quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock worth $1,191,531,000 after purchasing an additional 56,149 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Dover by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company’s stock valued at $618,068,000 after purchasing an additional 74,541 shares during the period. FMR LLC lifted its position in Dover by 1.1% during the fourth quarter. FMR LLC now owns 3,118,391 shares of the industrial products company’s stock worth $585,010,000 after buying an additional 32,565 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its stake in Dover by 31.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company’s stock worth $409,530,000 after buying an additional 524,092 shares during the last quarter. 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.