Dover (NYSE:DOV) Price Target Raised to $217.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has raised its price target for Dover from $211 to $217, indicating a potential upside of 16.39% based on the company's previous closing price.
• Other analysts have also increased their price targets, with Robert W. Baird and Mizuho setting targets of $234 and $225, respectively, demonstrating a current trend of positive sentiment towards Dover's stock.
• Dover reported a quarterly EPS of $2.44, beating analyst estimates and showing a revenue increase of 5.2% year-over-year, contributing to a consensus rating of "Moderate Buy" among analysts.

Dover (NYSE:DOV - Get Free Report) had its target price raised by equities researchers at JPMorgan Chase & Co. from $211.00 to $217.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the industrial products company's stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 16.39% from the company's previous close.

A number of other equities analysts also recently issued reports on the company. Robert W. Baird increased their price objective on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a report on Friday. Mizuho boosted their target price on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Royal Bank Of Canada set a $206.00 target price on Dover and gave the stock a "sector perform" rating in a report on Friday. Morgan Stanley began coverage on Dover in a report on Monday, April 14th. They issued an "equal weight" rating and a $185.00 target price on the stock. Finally, Barclays boosted their target price on Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a report on Friday. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $213.92.

Dover Stock Down 0.0%

DOV traded down $0.06 during trading on Monday, reaching $186.45. The stock had a trading volume of 205,107 shares, compared to its average volume of 1,064,534. The stock's 50 day moving average is $182.63 and its two-hundred day moving average is $183.14. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $25.56 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 1.49 and a beta of 1.26. Dover has a one year low of $143.04 and a one year high of $222.31.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.39 by $0.05. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.36 earnings per share. As a group, analysts expect that Dover will post 9.45 earnings per share for the current year.

Institutional Trading of Dover

Institutional investors and hedge funds have recently modified their holdings of the company. North Capital Inc. bought a new stake in shares of Dover during the 1st quarter valued at $29,000. N.E.W. Advisory Services LLC bought a new stake in shares of Dover during the 1st quarter valued at $31,000. Investment Research & Advisory Group Inc. bought a new stake in shares of Dover during the 2nd quarter valued at $33,000. Truvestments Capital LLC boosted its position in shares of Dover by 1,005.9% during the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock worth $33,000 after acquiring an additional 171 shares during the last quarter. Finally, Costello Asset Management INC bought a new position in shares of Dover during the first quarter worth $35,000. 84.46% of the stock is currently owned by 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.

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