Oppenheimer Issues Positive Forecast for Dover (NYSE:DOV) Stock Price

Dover (NYSE:DOV) had its price objective boosted by research analysts at Oppenheimer from $225.00 to $228.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price target suggests a potential upside of 24.44% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Robert W. Baird set a $235.00 price target on Dover in a research note on Friday, October 24th. JPMorgan Chase & Co. increased their price target on shares of Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Barclays raised their target price on Dover from $190.00 to $195.00 and gave the company an “equal weight” rating in a report on Friday, October 24th. UBS Group set a $200.00 price target on Dover in a report on Friday, October 24th. Finally, Wall Street Zen downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Dover has an average rating of “Moderate Buy” and a consensus price target of $212.27.

Dover Stock Up 0.7%

DOV stock traded up $1.25 during trading on Friday, hitting $183.22. 307,336 shares of the company’s stock were exchanged, compared to its average volume of 1,073,069. The business has a 50-day moving average price of $172.48 and a two-hundred day moving average price of $177.66. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $25.13 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 1.40 and a beta of 1.29. Dover has a 52-week low of $143.04 and a 52-week high of $222.31.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. The business had revenue of $1.78 billion during the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. As a group, equities research analysts expect that Dover will post 9.45 EPS for the current year.

Hedge Funds Weigh In On Dover

Large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in shares of Dover by 41.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,029 shares of the industrial products company’s stock worth $839,000 after purchasing an additional 1,480 shares during the period. Two Sigma Investments LP grew its stake in Dover by 1,242.1% during the third quarter. Two Sigma Investments LP now owns 291,024 shares of the industrial products company’s stock worth $48,552,000 after buying an additional 269,339 shares during the period. Vident Advisory LLC grew its stake in Dover by 6.2% during the third quarter. Vident Advisory LLC now owns 4,736 shares of the industrial products company’s stock worth $790,000 after buying an additional 278 shares during the period. M&T Bank Corp increased its position in shares of Dover by 1.5% in the third quarter. M&T Bank Corp now owns 121,745 shares of the industrial products company’s stock worth $20,311,000 after acquiring an additional 1,838 shares in the last quarter. Finally, Ossiam raised its stake in shares of Dover by 3,126.2% in the 3rd quarter. Ossiam now owns 7,259 shares of the industrial products company’s stock valued at $1,211,000 after acquiring an additional 7,034 shares during the period. 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.