Dover Co. (NYSE:DOV) Receives $213.91 Average Target Price from Analysts

Dover Co. (NYSE:DOV) has received an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $213.91.

DOV has been the subject of several recent research reports. Citigroup lifted their target price on shares of Dover from $226.00 to $236.00 and gave the company a “buy” rating in a report on Monday, December 9th. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research report on Monday, October 28th. StockNews.com cut Dover from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Mizuho upped their price target on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Oppenheimer reissued an “outperform” rating and issued a $215.00 price objective (up from $210.00) on shares of Dover in a report on Wednesday, October 16th.

Dover Stock Down 0.7 %

Dover stock opened at $199.65 on Friday. Dover has a 52 week low of $143.96 and a 52 week high of $208.26. The firm has a market cap of $27.39 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 2.70 and a beta of 1.22. The business’s 50-day moving average price is $197.57 and its 200 day moving average price is $187.60. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $0.515 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a yield of 1.03%. Dover’s payout ratio is currently 18.43%.

Institutional Investors Weigh In On Dover

A number of large investors have recently modified their holdings of the business. Versor Investments LP acquired a new position in Dover during the third quarter worth about $1,920,000. Brendel Financial Advisors LLC lifted its position in Dover by 347.7% during the third quarter. Brendel Financial Advisors LLC now owns 22,772 shares of the industrial products company’s stock worth $4,366,000 after buying an additional 17,685 shares in the last quarter. Empowered Funds LLC grew its holdings in Dover by 54.3% in the 3rd quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock valued at $2,523,000 after buying an additional 4,629 shares in the last quarter. National Pension Service increased its stake in shares of Dover by 3.0% in the 3rd quarter. National Pension Service now owns 216,010 shares of the industrial products company’s stock worth $41,418,000 after acquiring an additional 6,241 shares during the last quarter. Finally, Custom Index Systems LLC raised its holdings in shares of Dover by 91.0% during the 3rd quarter. Custom Index Systems LLC now owns 7,791 shares of the industrial products company’s stock worth $1,494,000 after acquiring an additional 3,713 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

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.