Dover (NYSE:DOV) Given New $211.00 Price Target at JPMorgan Chase & Co.

Dover (NYSE:DOV) had its price objective increased by JPMorgan Chase & Co. from $190.00 to $211.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $176.00 price objective on shares of Dover in a research report on Friday, April 25th. UBS Group decreased their price objective on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Robert W. Baird dropped their target price on shares of Dover from $238.00 to $219.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Finally, Morgan Stanley initiated coverage on Dover in a research report on Monday, April 14th. They set an “equal weight” rating and a $185.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $208.17.

Dover Stock Up 1.2%

Shares of NYSE DOV opened at $186.64 on Friday. Dover has a 52-week low of $143.04 and a 52-week high of $222.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The business has a fifty day moving average of $171.82 and a two-hundred day moving average of $188.12. The stock has a market cap of $25.59 billion, a PE ratio of 9.60, a PEG ratio of 2.06 and a beta of 1.28.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.06. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. Dover had a net margin of 32.95% and a return on equity of 21.03%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.95 earnings per share. As a group, equities research analysts expect that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.06 annualized dividend and a yield of 1.10%. Dover’s dividend payout ratio is presently 12.41%.

Institutional Investors Weigh In On Dover

Hedge funds have recently modified their holdings of the business. Barclays PLC raised its holdings in Dover by 26.6% during the 3rd quarter. Barclays PLC now owns 360,291 shares of the industrial products company’s stock worth $69,082,000 after buying an additional 75,670 shares during the period. SeaCrest Wealth Management LLC lifted its position in Dover by 19.2% in the 4th quarter. SeaCrest Wealth Management LLC now owns 1,655 shares of the industrial products company’s stock valued at $310,000 after acquiring an additional 266 shares in the last quarter. Oak Thistle LLC bought a new position in Dover during the 4th quarter worth about $492,000. Assenagon Asset Management S.A. raised its stake in shares of Dover by 195.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock valued at $17,077,000 after purchasing an additional 60,235 shares during the period. Finally, Park Avenue Securities LLC lifted its holdings in shares of Dover by 62.1% in the fourth quarter. Park Avenue Securities LLC now owns 8,192 shares of the industrial products company’s stock valued at $1,537,000 after purchasing an additional 3,138 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

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.