Wells Fargo & Company Issues Pessimistic Forecast for Dover (NYSE:DOV) Stock Price

Dover (NYSE:DOV) had its price target decreased by research analysts at Wells Fargo & Company from $205.00 to $200.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 6.96% from the company’s previous close.

A number of other equities analysts also recently issued reports on DOV. Citigroup increased their price target on shares of Dover from $226.00 to $236.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Mizuho raised their target price on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 price target (up from $210.00) on shares of Dover in a research note on Wednesday, October 16th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Finally, The Goldman Sachs Group increased their price target on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and a consensus target price of $214.18.

Dover Stock Down 0.5 %

Shares of Dover stock opened at $186.99 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. Dover has a 12-month low of $143.96 and a 12-month high of $208.26. The company has a market cap of $25.65 billion, a P/E ratio of 16.73, a PEG ratio of 2.70 and a beta of 1.23. The company’s fifty day simple moving average is $196.93 and its two-hundred day simple moving average is $188.54.

Institutional Trading of Dover

Several institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its position in shares of Dover by 162.2% during the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock valued at $124,195,000 after buying an additional 425,768 shares during the last quarter. Interval Partners LP boosted its holdings in shares of Dover by 110.0% during the 2nd quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock valued at $105,216,000 after acquiring an additional 305,436 shares during the last quarter. FMR LLC grew its stake in shares of Dover by 5.1% in the third quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after acquiring an additional 149,378 shares during the period. National Bank of Canada FI raised its holdings in shares of Dover by 313.7% during the third quarter. National Bank of Canada FI now owns 191,127 shares of the industrial products company’s stock valued at $36,647,000 after purchasing an additional 144,930 shares during the last quarter. Finally, Kimelman & Baird LLC bought a new position in Dover during the second quarter valued at approximately $17,323,000. 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.