Dover (NYSE:DOV) Price Target Cut to $220.00 by Analysts at Oppenheimer

Key Points

• Oppenheimer analysts have reduced the price target for Dover from $225.00 to $220.00 while maintaining an "outperform" rating, indicating a potential upside of 30.29% based on the stock's last close.
• Other analysts have varying opinions, with Wells Fargo cutting its target to $180.00 and Citigroup raising it to $226.00, contributing to a consensus price target of $212.25.
• Dover's market performance shows recent trading at $168.85, with a twelve-month low of $143.04 and a high of $222.31, suggesting notable volatility in the stock's value.

Dover (NYSE:DOV - Get Free Report) had its price target dropped by stock analysts at Oppenheimer from $225.00 to $220.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the industrial products company's stock. Oppenheimer's price objective would suggest a potential upside of 30.29% from the stock's previous close.

A number of other equities research analysts have also commented on the stock. Wells Fargo & Company dropped their price objective on shares of Dover from $195.00 to $180.00 and set an "equal weight" rating on the stock in a report on Monday, October 6th. Royal Bank Of Canada raised their price objective on shares of Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Citigroup restated a "buy" rating and set a $226.00 price objective (up from $202.00) on shares of Dover in a report on Monday, July 14th. Barclays dropped their price objective on shares of Dover from $193.00 to $190.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 1st. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Dover in a report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $212.25.

Dover Price Performance

Shares of NYSE DOV traded up $2.35 during mid-day trading on Monday, hitting $168.85. 606,739 shares of the stock were exchanged, compared to its average volume of 1,054,158. The company has a market cap of $23.15 billion, a P/E ratio of 10.19, a PEG ratio of 1.33 and a beta of 1.26. The stock's fifty day simple moving average is $172.60 and its two-hundred day simple moving average is $175.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95. Dover has a twelve month low of $143.04 and a twelve month high of $222.31.

Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. Dover had a net margin of 29.29% and a return on equity of 18.19%. The business had revenue of $1.78 billion for the quarter. As a group, analysts forecast that Dover will post 9.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Dover

A number of institutional investors have recently added to or reduced their stakes in DOV. Perigon Wealth Management LLC increased its position in Dover by 64.8% in the 3rd quarter. Perigon Wealth Management LLC now owns 2,668 shares of the industrial products company's stock valued at $445,000 after acquiring an additional 1,049 shares during the period. Castle Rock Wealth Management LLC raised its holdings in shares of Dover by 1.1% in the third quarter. Castle Rock Wealth Management LLC now owns 10,540 shares of the industrial products company's stock valued at $1,757,000 after purchasing an additional 114 shares during the last quarter. Griffin Asset Management Inc. increased its holdings in Dover by 0.4% during the third quarter. Griffin Asset Management Inc. now owns 53,477 shares of the industrial products company's stock worth $8,922,000 after buying an additional 226 shares during the last quarter. Blue Trust Inc. boosted its position in Dover by 4.4% during the third quarter. Blue Trust Inc. now owns 2,846 shares of the industrial products company's stock worth $475,000 after purchasing an additional 119 shares during the period. Finally, CWM LLC grew its stake in Dover by 121.6% during the third quarter. CWM LLC now owns 34,911 shares of the industrial products company's stock valued at $5,824,000 after acquiring an additional 19,155 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.

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