Dover Corporation (NYSE:DOV) Receives $211.55 Average Target Price from Analysts

Shares of Dover Corporation (NYSE:DOV) have been assigned an average rating of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $211.5455.

A number of research analysts have commented on DOV shares. Wells Fargo & Company increased their price objective on Dover from $180.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, October 24th. Oppenheimer cut their price target on Dover from $225.00 to $220.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. Wall Street Zen lowered Dover from a “buy” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. boosted their price objective on Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Finally, Robert W. Baird set a $235.00 target price on shares of Dover in a research note on Friday, October 24th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Legacy Financial Advisors Inc. grew its stake in shares of Dover by 1.4% during the first quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company’s stock worth $726,000 after purchasing an additional 57 shares during the period. Mission Wealth Management LP boosted its holdings in Dover by 0.8% during the third quarter. Mission Wealth Management LP now owns 7,493 shares of the industrial products company’s stock worth $1,250,000 after buying an additional 58 shares during the last quarter. Summit Financial LLC grew its position in shares of Dover by 0.9% during the 1st quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company’s stock worth $1,159,000 after buying an additional 60 shares during the period. Harbour Investments Inc. increased its stake in shares of Dover by 51.7% in the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 60 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its position in shares of Dover by 0.9% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 6,911 shares of the industrial products company’s stock valued at $1,266,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Trading Up 1.0%

DOV opened at $180.34 on Tuesday. Dover has a 1-year low of $143.04 and a 1-year high of $222.31. The stock has a market capitalization of $24.73 billion, a PE ratio of 11.09, a PEG ratio of 1.40 and a beta of 1.29. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $171.99 and a two-hundred day moving average price of $177.32.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. The business had revenue of $1.78 billion for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. As a group, equities analysts anticipate that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. Dover’s dividend payout ratio (DPR) is presently 12.79%.

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.