Dover (NYSE:DOV) Price Target Lowered to $222.00 at Citigroup

Dover (NYSE:DOV - Get Free Report) had its price target dropped by research analysts at Citigroup from $236.00 to $222.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. Citigroup's target price suggests a potential upside of 18.79% from the stock's current price.

Other analysts also recently issued reports about the company. StockNews.com upgraded Dover from a "hold" rating to a "buy" rating in a research note on Thursday, December 19th. UBS Group started coverage on Dover in a research report on Wednesday, November 13th. They set a "neutral" rating and a $217.00 price objective on the stock. Barclays upped their target price on shares of Dover from $190.00 to $205.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Mizuho lifted their price target on shares of Dover from $200.00 to $220.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Finally, Wolfe Research upgraded shares of Dover from a "peer perform" rating to an "outperform" rating and set a $227.00 target price on the stock in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Dover currently has an average rating of "Moderate Buy" and an average target price of $212.91.

Dover Stock Up 1.8 %

DOV stock traded up $3.24 during trading on Monday, hitting $186.88. 1,275,265 shares of the stock traded hands, compared to its average volume of 743,266. 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 cap of $25.64 billion, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 2.70 and a beta of 1.22. Dover has a 1 year low of $143.96 and a 1 year high of $208.26. The firm's 50 day moving average is $196.77 and its two-hundred day moving average is $188.65.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Versor Investments LP bought a new position in shares of Dover in the third quarter worth about $1,920,000. Brendel Financial Advisors LLC lifted its holdings in Dover by 347.7% in the 3rd quarter. Brendel Financial Advisors LLC now owns 22,772 shares of the industrial products company's stock worth $4,366,000 after purchasing an additional 17,685 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Dover by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company's stock worth $34,100,000 after purchasing an additional 5,372 shares during the period. Empowered Funds LLC grew its holdings in Dover by 54.3% during the 3rd quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company's stock valued at $2,523,000 after buying an additional 4,629 shares in the last quarter. Finally, Virtu Financial LLC raised its position in shares of Dover by 85.1% during the third quarter. Virtu Financial LLC now owns 14,373 shares of the industrial products company's stock valued at $2,756,000 after buying an additional 6,608 shares during the last quarter. 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.