Citigroup Lowers Dover (NYSE:DOV) Price Target to $222.00

Dover (NYSE:DOV) had its target price lowered by Citigroup from $236.00 to $222.00 in a research report sent to investors on Monday,Benzinga reports. Citigroup currently has a buy rating on the industrial products company’s stock.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company decreased their target price on shares of Dover from $205.00 to $200.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Mizuho raised their target price on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. UBS Group initiated coverage on Dover in a report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $212.91.

Dover Stock Up 1.8 %

Dover stock opened at $186.88 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. Dover has a one year low of $143.96 and a one year high of $208.26. The company has a 50-day simple moving average of $196.72 and a 200-day simple moving average of $188.71. The firm has a market capitalization of $25.64 billion, a P/E ratio of 16.72, a P/E/G ratio of 2.70 and a beta of 1.22.

Dover Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 1.10%. Dover’s dividend payout ratio is currently 18.43%.

Hedge Funds Weigh In On Dover

A number of hedge funds have recently modified their holdings of DOV. First Financial Corp IN boosted its position in shares of Dover by 418.1% in the 4th quarter. First Financial Corp IN now owns 430 shares of the industrial products company’s stock valued at $81,000 after purchasing an additional 347 shares during the period. Thomasville National Bank increased its position in shares of Dover by 46.7% in the fourth quarter. Thomasville National Bank now owns 2,727 shares of the industrial products company’s stock worth $512,000 after acquiring an additional 868 shares in the last quarter. Kieckhefer Group LLC purchased a new position in shares of Dover in the fourth quarter worth approximately $38,000. Czech National Bank raised its holdings in shares of Dover by 6.2% during the fourth quarter. Czech National Bank now owns 29,746 shares of the industrial products company’s stock valued at $5,580,000 after acquiring an additional 1,745 shares during the period. Finally, Tilia Fiduciary Partners Inc. grew its position in Dover by 3.6% during the 4th quarter. Tilia Fiduciary Partners Inc. now owns 9,778 shares of the industrial products company’s stock worth $1,834,000 after purchasing an additional 344 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.