Analysts Set Dover Co. (NYSE:DOV) Price Target at $206.33

Shares of Dover Co. (NYSE:DOV) have received a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $208.17.

Several analysts have recently weighed in on the stock. Robert W. Baird lowered their price objective on shares of Dover from $238.00 to $219.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Oppenheimer restated an “outperform” rating and set a $225.00 price objective (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. Royal Bank of Canada restated a “sector perform” rating and set a $176.00 price objective on shares of Dover in a research report on Friday, April 25th. Finally, UBS Group lowered their price objective on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st.

Dover Stock Performance

NYSE DOV opened at $186.64 on Tuesday. Dover has a 1 year low of $143.04 and a 1 year high of $222.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The stock has a market capitalization of $25.59 billion, a PE ratio of 9.60, a P/E/G ratio of 2.06 and a beta of 1.28. The company’s 50 day simple moving average is $171.82 and its two-hundred day simple moving average is $188.13.

Dover (NYSE:DOV) last posted its earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.06. Dover had a net margin of 32.95% and a return on equity of 21.03%. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the company posted $1.95 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. Analysts predict that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, May 30th. Dover’s dividend payout ratio is currently 12.41%.

Institutional Investors Weigh In On Dover

A number of large investors have recently added to or reduced their stakes in the company. Ecofi Investissements SA grew its holdings in Dover by 1.1% in the 4th quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company’s stock worth $765,000 after acquiring an additional 50 shares during the last quarter. Spire Wealth Management grew its holdings in Dover by 2.1% in the 4th quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock worth $464,000 after acquiring an additional 52 shares during the last quarter. Legacy Financial Advisors Inc. grew its holdings in Dover by 1.4% in the 1st quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company’s stock worth $726,000 after acquiring an additional 57 shares during the last quarter. Trust Point Inc. grew its holdings in Dover by 3.1% in the 4th quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock worth $367,000 after acquiring an additional 59 shares during the last quarter. Finally, Summit Financial LLC grew its holdings in Dover by 0.9% in the 1st quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company’s stock worth $1,159,000 after acquiring an additional 60 shares during the last quarter. Institutional investors 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.