Dover Corporation (NYSE:DOV) Receives $206.50 Average Price Target from Analysts

Shares of Dover Corporation (NYSE:DOV - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $206.50.

Several analysts have recently issued reports on the company. Morgan Stanley initiated coverage on Dover in a report on Monday, April 14th. They set an "equal weight" rating and a $185.00 price objective on the stock. Citigroup reduced their price target on shares of Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Wall Street Zen lowered shares of Dover from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. JPMorgan Chase & Co. lifted their price objective on shares of Dover from $190.00 to $211.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Finally, Robert W. Baird decreased their target price on shares of Dover from $238.00 to $219.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th.

Dover Price Performance

NYSE DOV traded up $0.19 on Wednesday, reaching $188.34. The company had a trading volume of 51,184 shares, compared to its average volume of 1,045,096. The stock has a market capitalization of $25.82 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 1.79 and a beta of 1.26. Dover has a 12 month low of $143.04 and a 12 month high of $222.31. The company has a quick ratio of 1.56, a current ratio of 2.13 and a debt-to-equity ratio of 0.36. The firm's 50 day moving average price is $178.29 and its 200 day moving average price is $183.34.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.99 by $0.06. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. Dover had a return on equity of 19.54% and a net margin of 28.85%. The business's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $1.95 earnings per share. As a group, equities analysts predict that Dover will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were paid a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.09%. Dover's dividend payout ratio is presently 12.41%.

Institutional Trading of Dover

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DOV. North Capital Inc. purchased a new stake in shares of Dover in the first quarter worth approximately $29,000. N.E.W. Advisory Services LLC purchased a new position in Dover during the 1st quarter valued at $31,000. Truvestments Capital LLC grew its position in Dover by 1,005.9% in the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 171 shares during the last quarter. Costello Asset Management INC purchased a new stake in Dover in the first quarter worth $35,000. Finally, Ransom Advisory Ltd bought a new stake in shares of Dover during the first quarter worth $35,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Company Profile

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.