Dover (NYSE:DOV) Price Target Lowered to $205.00 at Barclays

Dover (NYSE:DOV) had its target price cut by stock analysts at Barclays from $213.00 to $205.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price target would indicate a potential upside of 14.42% from the company’s current price.

Other equities research analysts have also issued research reports about the company. StockNews.com lowered Dover from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Wells Fargo & Company increased their price objective on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Citigroup decreased their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Oppenheimer reissued an “outperform” rating and set a $225.00 price target (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.18.

Dover Trading Down 1.7 %

Shares of DOV stock opened at $179.16 on Wednesday. The business has a 50-day moving average price of $194.03 and a two-hundred day moving average price of $193.59. Dover has a 12-month low of $168.20 and a 12-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 $24.56 billion, a P/E ratio of 9.21, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last released its 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 return on equity of 21.03% and a net margin of 32.95%. Equities analysts anticipate that Dover will post 9.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Dover by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company’s stock worth $3,045,772,000 after purchasing an additional 57,453 shares during the period. State Street Corp increased its stake in shares of Dover by 0.9% in the 3rd quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock worth $1,191,531,000 after acquiring an additional 56,149 shares in the last quarter. Geode Capital Management LLC lifted its position in Dover by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company’s stock valued at $618,068,000 after acquiring an additional 74,541 shares during the period. FMR LLC boosted its stake in Dover by 1.1% during the fourth quarter. FMR LLC now owns 3,118,391 shares of the industrial products company’s stock worth $585,010,000 after acquiring an additional 32,565 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of Dover by 31.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company’s stock valued at $409,530,000 after purchasing an additional 524,092 shares in the last quarter. Hedge funds and other 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.