Dover (NYSE:DOV) Price Target Raised to $190.00 at Wells Fargo & Company

Dover (NYSE:DOV - Free Report) had its price objective increased by Wells Fargo & Company from $180.00 to $190.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the industrial products company's stock.

DOV has been the topic of several other reports. Barclays upped their target price on shares of Dover from $180.00 to $185.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Citigroup decreased their price objective on Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. lifted their target price on Dover from $190.00 to $211.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Royal Bank Of Canada reissued a "sector perform" rating and set a $176.00 target price on shares of Dover in a research report on Friday, April 25th. Finally, Wall Street Zen lowered shares of Dover from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Dover currently has an average rating of "Moderate Buy" and a consensus price target of $206.50.

Dover Price Performance

Shares of Dover stock traded up $2.94 during trading on Tuesday, reaching $186.17. 912,501 shares of the stock traded hands, compared to its average volume of 954,528. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.13 and a quick ratio of 1.56. The company has a market capitalization of $25.52 billion, a price-to-earnings ratio of 11.22, a P/E/G ratio of 1.76 and a beta of 1.27. Dover has a 52-week low of $143.04 and a 52-week high of $222.31. The business has a fifty day simple moving average of $177.40 and a two-hundred day simple moving average of $183.29.

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 (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.06. Dover had a return on equity of 19.54% and a net margin of 28.85%. The business had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.88 billion. During the same period in the prior year, the firm earned $1.95 EPS. The company's revenue for the quarter was down .9% on a year-over-year basis. Sell-side analysts expect that Dover will post 9.45 EPS for the current year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a $0.515 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.06 annualized dividend and a yield of 1.11%. Dover's dividend payout ratio (DPR) is 12.41%.

Hedge Funds Weigh In On Dover

A number of institutional investors have recently modified their holdings of the stock. North Capital Inc. bought a new stake in Dover during the 1st quarter valued at $29,000. N.E.W. Advisory Services LLC bought a new stake in shares of Dover in the first quarter valued at about $31,000. Truvestments Capital LLC lifted its stake in Dover by 1,005.9% in 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 period. EverSource Wealth Advisors LLC grew its holdings in Dover by 79.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock worth $37,000 after acquiring an additional 87 shares in the last quarter. Finally, Costello Asset Management INC purchased a new position in Dover during the 1st quarter valued at about $35,000. 84.46% of the stock is owned by hedge funds and other 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.