Wells Fargo & Company Cuts Dover (NYSE:DOV) Price Target to $200.00

Dover (NYSE:DOV) had its price target cut by Wells Fargo & Company from $205.00 to $200.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

Several other equities analysts have also recently weighed in on the stock. Mizuho lifted their price objective on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Citigroup upped their price target on Dover from $226.00 to $236.00 and gave the company a “buy” rating in a research report on Monday, December 9th. The Goldman Sachs Group lifted their target price on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Oppenheimer reissued an “outperform” rating and issued a $215.00 price target (up from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Finally, StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $214.18.

Dover Price Performance

NYSE DOV opened at $186.99 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. Dover has a 1 year low of $143.96 and a 1 year high of $208.26. The company has a market cap of $25.65 billion, a PE ratio of 16.73, a PEG ratio of 2.70 and a beta of 1.23. The stock’s 50-day moving average price is $196.88 and its two-hundred day moving average price is $188.53.

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 given a $0.515 dividend. The ex-dividend date was Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.10%. Dover’s dividend payout ratio is currently 18.43%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DOV. Independent Advisor Alliance grew its holdings in Dover by 0.3% during the third quarter. Independent Advisor Alliance now owns 18,036 shares of the industrial products company’s stock valued at $3,458,000 after purchasing an additional 58 shares during the last quarter. Main Street Financial Solutions LLC grew its stake in Dover by 2.7% in the 3rd quarter. Main Street Financial Solutions LLC now owns 2,255 shares of the industrial products company’s stock valued at $432,000 after buying an additional 60 shares during the last quarter. Empower Advisory Group LLC raised its holdings in Dover by 3.7% in the 3rd quarter. Empower Advisory Group LLC now owns 2,030 shares of the industrial products company’s stock worth $389,000 after acquiring an additional 73 shares during the period. First Commonwealth Financial Corp PA lifted its position in Dover by 2.2% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 3,459 shares of the industrial products company’s stock worth $663,000 after acquiring an additional 73 shares during the last quarter. Finally, PFG Investments LLC grew its position in shares of Dover by 3.9% in the second quarter. PFG Investments LLC now owns 1,951 shares of the industrial products company’s stock valued at $352,000 after purchasing an additional 74 shares during the last quarter. 84.46% of the stock is owned by 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.