Dover (NYSE:DOV) Price Target Cut to $211.00 by Analysts at UBS Group

Dover (NYSE:DOV - Free Report) had its price objective cut by UBS Group from $217.00 to $211.00 in a report issued on Friday morning,Benzinga reports. They currently have a neutral rating on the industrial products company's stock.

A number of other analysts have also recently weighed in on the company. Citigroup cut 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. Royal Bank of Canada boosted their target price on Dover from $196.00 to $214.00 and gave the stock a "sector perform" rating in a research note on Friday. Wells Fargo & Company increased their price target on shares of Dover from $200.00 to $215.00 and gave the company an "equal weight" rating in a research note on Friday. Oppenheimer restated an "outperform" rating and set a $225.00 price objective (up previously from $220.00) on shares of Dover in a research report on Friday. Finally, Mizuho increased their target price on shares of Dover from $200.00 to $220.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $218.91.

Dover Stock Up 0.4 %

Shares of DOV traded up $0.85 during midday trading on Friday, hitting $203.13. The company had a trading volume of 842,495 shares, compared to its average volume of 917,118. The company's 50-day simple moving average is $195.44 and its 200-day simple moving average is $190.59. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. Dover has a 1 year low of $156.59 and a 1 year high of $222.31. The firm has a market capitalization of $27.87 billion, a P/E ratio of 10.44, a P/E/G ratio of 2.07 and a beta of 1.24.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, hitting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. As a group, sell-side analysts expect that Dover will post 9.42 EPS for the current year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, November 29th. Dover's dividend payout ratio is currently 10.59%.

Institutional Trading of Dover

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Spire Wealth Management raised its stake in shares of Dover by 2.1% during the fourth quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company's stock worth $464,000 after purchasing an additional 52 shares during the last quarter. Independent Advisor Alliance increased its stake in Dover by 0.3% in the 3rd quarter. Independent Advisor Alliance now owns 18,036 shares of the industrial products company's stock valued at $3,458,000 after buying an additional 58 shares during the period. ORG Partners LLC raised its position in Dover by 5.4% during the 4th quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company's stock worth $214,000 after buying an additional 58 shares during the last quarter. Trust Point Inc. lifted its stake in shares of Dover by 3.1% in the 4th quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company's stock worth $367,000 after acquiring an additional 59 shares during the period. Finally, Main Street Financial Solutions LLC boosted its holdings in shares of Dover by 2.7% in the third quarter. Main Street Financial Solutions LLC now owns 2,255 shares of the industrial products company's stock valued at $432,000 after acquiring an additional 60 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other 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.