Barclays Issues Pessimistic Forecast for Dover (NYSE:DOV) Stock Price

Dover (NYSE:DOV - Free Report) had its target price trimmed by Barclays from $213.00 to $205.00 in a research note released on Wednesday, Marketbeat reports. The brokerage currently has an equal weight rating on the industrial products company's stock.

A number of other equities analysts have also recently weighed in on the company. Wells Fargo & Company lifted their price target on Dover from $200.00 to $215.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. Royal Bank of Canada boosted their price target on Dover from $196.00 to $214.00 and gave the stock a "sector perform" rating in a research report on Friday, January 31st. UBS Group dropped their target price on shares of Dover from $217.00 to $211.00 and set a "neutral" rating on the stock in a report on Friday, January 31st. Citigroup lowered their price target on Dover from $236.00 to $222.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Finally, The Goldman Sachs Group upped 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. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $218.18.

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Dover Stock Down 2.5 %

Shares of DOV traded down $4.52 during trading on Wednesday, reaching $174.63. The company's stock had a trading volume of 608,913 shares, compared to its average volume of 924,226. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The company has a market cap of $23.94 billion, a price-to-earnings ratio of 8.98, a P/E/G ratio of 2.06 and a beta of 1.24. Dover has a twelve month low of $168.20 and a twelve month high of $222.31. The company has a fifty day moving average of $193.63 and a two-hundred day moving average of $193.64.

Dover (NYSE:DOV - Get Free Report) last issued its 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%. On average, sell-side analysts predict that Dover will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, February 28th. Dover's dividend payout ratio (DPR) is presently 10.59%.

Institutional Trading of Dover

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Dover by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company's stock worth $3,045,772,000 after acquiring an additional 57,453 shares during the period. State Street Corp raised its position in shares of Dover by 0.9% in the 3rd quarter. State Street Corp now owns 6,214,308 shares of the industrial products company's stock worth $1,191,531,000 after acquiring an additional 56,149 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Dover by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company's stock valued at $618,068,000 after purchasing an additional 74,541 shares during the period. FMR LLC boosted its position in shares of Dover by 1.1% during the 4th quarter. FMR LLC now owns 3,118,391 shares of the industrial products company's stock valued at $585,010,000 after purchasing an additional 32,565 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in Dover by 31.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company's stock worth $409,530,000 after purchasing an additional 524,092 shares during the period. 84.46% of the stock is currently owned by 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.