Brokerages Set Dover Corporation (NYSE:DOV) PT at $206.50

Shares of Dover Corporation (NYSE:DOV) have been assigned an average rating of “Moderate Buy” from the twelve analysts that are covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $206.50.

Several equities analysts recently weighed in on the company. Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Citigroup cut their price objective on Dover from $244.00 to $201.00 and set a “buy” rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. upped their price target on Dover from $190.00 to $211.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Morgan Stanley started coverage on Dover in a report on Monday, April 14th. They issued an “equal weight” rating and a $185.00 price target for the company. Finally, Barclays upped their price target on Dover from $180.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, April 24th.

Institutional Investors Weigh In On Dover

Several large investors have recently modified their holdings of DOV. Nuveen LLC bought a new stake in shares of Dover in the 1st quarter valued at approximately $526,081,000. Norges Bank bought a new stake in shares of Dover in the 4th quarter valued at approximately $316,228,000. GAMMA Investing LLC grew its stake in shares of Dover by 35,832.0% in the 1st quarter. GAMMA Investing LLC now owns 563,054 shares of the industrial products company’s stock valued at $98,917,000 after purchasing an additional 561,487 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Dover in the 4th quarter valued at approximately $99,017,000. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of Dover by 31.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company’s stock valued at $409,530,000 after purchasing an additional 524,092 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Dover Price Performance

NYSE DOV opened at $187.23 on Wednesday. Dover has a twelve month low of $143.04 and a twelve month high of $222.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.56 and a current ratio of 2.13. The stock has a market capitalization of $25.67 billion, a PE ratio of 11.28, a P/E/G ratio of 1.81 and a beta of 1.26. The stock has a 50-day simple moving average of $179.00 and a 200 day simple moving average of $183.19.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.06. Dover had a return on equity of 19.54% and a net margin of 28.85%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the firm earned $1.95 EPS. The firm’s revenue was down .9% compared to the same quarter last year. Research analysts anticipate that Dover will post 9.45 EPS for the current year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a $0.515 dividend. The ex-dividend date was Friday, May 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.10%. Dover’s dividend payout ratio is currently 12.41%.

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.