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

Dover (NYSE:DOV) had its price target lowered by JPMorgan Chase & Co. from $230.00 to $189.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

Several other equities analysts have also recently issued reports on DOV. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Barclays dropped their target price on shares of Dover from $213.00 to $205.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. The Goldman Sachs Group boosted their target price on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Oppenheimer restated an “outperform” rating and issued a $225.00 price target (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Finally, Royal Bank of Canada increased their target price on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $214.45.

Dover Trading Down 0.6 %

NYSE:DOV opened at $150.58 on Tuesday. The stock has a market cap of $20.64 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 2.06 and a beta of 1.24. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average price is $188.01 and its 200-day moving average price is $192.27. Dover has a 52 week low of $143.04 and a 52 week high of $222.31.

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

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.37%. The ex-dividend date was Friday, February 28th. Dover’s dividend payout ratio is 10.59%.

Hedge Funds Weigh In On Dover

Hedge funds have recently modified their holdings of the company. Financial Life Planners purchased a new position in shares of Dover during the 4th quarter valued at $28,000. R Squared Ltd purchased a new stake in shares of Dover during the fourth quarter worth about $34,000. EverSource Wealth Advisors LLC raised its stake in Dover by 79.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 87 shares during the period. Kieckhefer Group LLC purchased a new position in Dover in the 4th quarter worth approximately $38,000. Finally, Orion Capital Management LLC bought a new position in Dover in the 4th quarter worth approximately $43,000. 84.46% of the stock is currently owned by 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.