The Goldman Sachs Group Forecasts Strong Price Appreciation for Dover (NYSE:DOV) Stock

Dover (NYSE:DOV) had its price target lifted by The Goldman Sachs Group from $202.00 to $223.00 in a report published on Thursday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the industrial products company’s stock.

DOV has been the subject of a number of other research reports. UBS Group began coverage on shares of Dover in a report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 price objective for the company. Wells Fargo & Company upped their price target on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Mizuho raised their price objective on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 target price (up from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Finally, 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 research note on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $213.91.

Dover Price Performance

Shares of NYSE DOV opened at $201.36 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. The stock has a market capitalization of $27.62 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 2.70 and a beta of 1.22. The firm’s 50 day simple moving average is $197.08 and its 200-day simple moving average is $187.28. Dover has a 12 month low of $143.96 and a 12 month high of $208.26.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Friday, November 29th. Dover’s dividend payout ratio is presently 18.43%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. McClarren Financial Advisors Inc. raised its position in Dover by 4,400.0% in the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 176 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Dover in the 3rd quarter valued at $33,000. Fairscale Capital LLC acquired a new position in Dover during the 2nd quarter worth about $34,000. Ashton Thomas Private Wealth LLC purchased a new position in Dover during the 2nd quarter valued at about $41,000. Finally, Avior Wealth Management LLC grew its position in Dover by 183.5% in the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 167 shares in the last quarter. Institutional investors and hedge funds 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.