Barclays Lowers Dover (NYSE:DOV) Price Target to $205.00

Dover (NYSE:DOV) had its target price trimmed by Barclays from $213.00 to $205.00 in a research report sent to investors on Wednesday morning, Marketbeat reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

Other analysts also recently issued reports about the stock. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Royal Bank of Canada raised their price target on shares of Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. The Goldman Sachs Group increased their target price on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. UBS Group decreased their price target on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $225.00 price objective (up from $220.00) on shares of Dover in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and an average target price of $218.18.

Dover Trading Down 2.5 %

NYSE:DOV opened at $174.63 on Wednesday. Dover has a one year low of $168.20 and a one year high of $222.31. The company’s 50-day simple moving average is $193.63 and its 200 day simple moving average is $193.56. The firm has a market capitalization of $23.94 billion, a P/E ratio of 8.98, a PEG ratio of 2.06 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. As a group, analysts forecast that Dover will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

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

Institutional Investors Weigh In On Dover

Hedge funds have recently modified their holdings of the business. 111 Capital purchased a new position in Dover during the fourth quarter valued at $464,000. Bannerman Wealth Management Group LLC purchased a new position in shares of Dover during the 4th quarter valued at about $228,000. IronOak Wealth LLC. bought a new position in shares of Dover during the 4th quarter valued at approximately $340,000. Smith Shellnut Wilson LLC ADV raised its stake in Dover by 9.8% during the 4th quarter. Smith Shellnut Wilson LLC ADV now owns 3,128 shares of the industrial products company’s stock worth $587,000 after acquiring an additional 278 shares during the period. Finally, Siemens Fonds Invest GmbH lifted its holdings in Dover by 12.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 2,642 shares of the industrial products company’s stock valued at $492,000 after purchasing an additional 301 shares in the last quarter. Institutional investors 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.