JPMorgan Chase & Co. Cuts Dover (NYSE:DOV) Price Target to $189.00

Dover (NYSE:DOV - Free Report) had its target price cut by JPMorgan Chase & Co. from $230.00 to $189.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the industrial products company's stock.

Several other research firms have also recently weighed in on DOV. Wells Fargo & Company raised their target price on shares of Dover from $200.00 to $215.00 and gave the company an "equal weight" rating in a research note 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 report on Thursday, December 12th. Oppenheimer restated an "outperform" rating and issued a $225.00 price target (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. StockNews.com downgraded shares of Dover from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Finally, Barclays lowered their price target on shares of Dover from $213.00 to $205.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $212.18.

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Dover Stock Up 1.7 %

Dover stock traded up $2.67 during trading hours on Tuesday, hitting $162.23. 1,590,092 shares of the stock traded hands, compared to its average volume of 953,778. Dover has a one year low of $143.04 and a one year high of $222.31. The firm's 50-day moving average price is $184.81 and its two-hundred day moving average price is $191.50. The company has a market cap of $22.24 billion, a PE ratio of 8.34, a PEG ratio of 2.06 and a beta of 1.24. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36.

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

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Friday, February 28th. Dover's dividend payout ratio (DPR) is 10.59%.

Institutional Trading of Dover

Institutional investors have recently modified their holdings of the company. Financial Life Planners acquired a new stake in Dover in the 4th quarter worth approximately $28,000. R Squared Ltd purchased a new stake in shares of Dover during the fourth quarter valued at $34,000. EverSource Wealth Advisors LLC raised its stake in Dover by 79.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock worth $37,000 after acquiring an additional 87 shares during the last quarter. Kieckhefer Group LLC acquired a new stake in Dover during the 4th quarter worth about $38,000. Finally, Orion Capital Management LLC purchased a new stake in Dover during the 4th quarter valued at about $43,000. 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.