Dover (NYSE:DOV) Price Target Cut to $208.00 by Analysts at JPMorgan Chase & Co.

Dover (NYSE:DOV) had its target price decreased by JPMorgan Chase & Co. from $212.00 to $208.00 in a report issued on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the industrial products company’s stock.

Several other analysts have also issued reports on the stock. Citigroup cut their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research report on Monday. UBS Group initiated coverage on Dover in a report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 target price on the stock. Wells Fargo & Company cut their price target on Dover from $205.00 to $200.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research report on Monday, October 28th. Finally, Mizuho increased their target price on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $212.55.

Dover Stock Up 1.1 %

DOV stock opened at $190.88 on Wednesday. The business’s 50-day moving average is $196.43 and its two-hundred day moving average is $188.79. The company has a market cap of $26.19 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 2.15 and a beta of 1.23. Dover has a fifty-two week low of $143.96 and a fifty-two week high of $208.26. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.515 per share. The ex-dividend date was Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.08%. Dover’s payout ratio is 18.43%.

Institutional Investors Weigh In On Dover

A number of hedge funds have recently made changes to their positions in DOV. 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 worth $3,458,000 after acquiring an additional 58 shares during the last quarter. ORG Partners LLC increased its position in Dover by 5.4% in the fourth quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock worth $214,000 after purchasing an additional 58 shares during the last quarter. Main Street Financial Solutions LLC raised its stake in Dover by 2.7% during 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 purchasing an additional 60 shares in the last quarter. JGP Wealth Management LLC lifted its position in Dover by 0.8% during the fourth quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company’s stock valued at $1,515,000 after purchasing an additional 62 shares during the last quarter. Finally, Empower Advisory Group LLC grew its stake in shares of Dover by 3.7% in the 3rd quarter. Empower Advisory Group LLC now owns 2,030 shares of the industrial products company’s stock worth $389,000 after buying an additional 73 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

About Dover

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.