Dover (NYSE:DOV) Price Target Lowered to $180.00 at Barclays

Dover (NYSE:DOV) had its price objective trimmed by Barclays from $205.00 to $180.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

A number of other equities analysts have also weighed in on DOV. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price objective (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. JPMorgan Chase & Co. dropped their target price on shares of Dover from $230.00 to $189.00 and set an “overweight” rating for the company in a research report on Tuesday. Citigroup reduced their price target on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. The Goldman Sachs Group raised their price objective on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, StockNews.com downgraded Dover from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $212.18.

Dover Stock Down 3.7 %

DOV stock opened at $159.76 on Thursday. The business has a 50 day moving average of $185.63 and a 200 day moving average of $191.69. Dover has a twelve month low of $143.04 and a twelve month high of $222.31. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a market cap of $21.90 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, research analysts forecast that Dover will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.06 annualized dividend and a yield of 1.29%. Dover’s payout ratio is presently 10.59%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Wolverine Asset Management LLC grew its holdings in Dover by 78.6% during the 4th quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company’s stock valued at $2,345,000 after purchasing an additional 5,500 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Dover by 195.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock valued at $17,077,000 after buying an additional 60,235 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Dover by 3.1% in the third quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock worth $34,100,000 after buying an additional 5,372 shares during the period. Westpac Banking Corp lifted its stake in shares of Dover by 1,332.8% during the 4th quarter. Westpac Banking Corp now owns 24,486 shares of the industrial products company’s stock worth $4,594,000 after acquiring an additional 22,777 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in Dover by 1.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 27,626 shares of the industrial products company’s stock valued at $5,183,000 after acquiring an additional 444 shares during the last quarter. 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.