JPMorgan Chase & Co. Has Lowered Expectations for Dover (NYSE:DOV) Stock Price

Dover (NYSE:DOV - Get Free Report) had its target price cut by stock analysts at JPMorgan Chase & Co. from $212.00 to $208.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the industrial products company's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 8.97% from the stock's current price.

Several other equities analysts have also recently weighed in on the stock. StockNews.com raised shares of Dover from a "hold" rating to a "buy" rating in a research report on Thursday, December 19th. Oppenheimer reiterated an "outperform" rating and set a $215.00 price target (up previously from $210.00) on shares of Dover in a report on Wednesday, October 16th. Citigroup dropped their price objective on Dover from $236.00 to $222.00 and set a "buy" rating on the stock in a research note on Monday. UBS Group assumed coverage on shares of Dover in a research note on Wednesday, November 13th. They issued a "neutral" rating and a $217.00 target price for the company. 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 report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Dover has an average rating of "Moderate Buy" and a consensus target price of $212.55.

Dover Stock Up 1.1 %

NYSE:DOV traded up $2.08 on Wednesday, hitting $190.88. The stock had a trading volume of 617,136 shares, compared to its average volume of 728,074. The company has a market cap of $26.19 billion, a PE ratio of 17.07, a P/E/G ratio of 2.70 and a beta of 1.22. Dover has a 52 week low of $143.96 and a 52 week high of $208.26. The business's fifty day moving average is $196.66 and its 200 day moving average is $188.77. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53.

Institutional Investors Weigh In On Dover

A number of hedge funds have recently modified their holdings of DOV. Acadian Asset Management LLC bought a new stake in shares of Dover in the second quarter valued at $634,000. Dimensional Fund Advisors LP raised its stake in Dover by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company's stock valued at $271,702,000 after acquiring an additional 60,912 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in Dover by 14.1% during the second quarter. Citizens Financial Group Inc. RI now owns 2,244 shares of the industrial products company's stock valued at $405,000 after purchasing an additional 277 shares during the last quarter. Renaissance Technologies LLC bought a new position in Dover during the second quarter worth about $2,995,000. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of Dover by 8.2% in the second quarter. Mercer Global Advisors Inc. ADV now owns 48,267 shares of the industrial products company's stock worth $8,710,000 after purchasing an additional 3,657 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.