Dover (NYSE:DOV) Price Target Cut to $189.00 by Analysts at JPMorgan Chase & Co.

Dover (NYSE:DOV) had its price target cut by equities research analysts at JPMorgan Chase & Co. from $230.00 to $189.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 13.73% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on DOV. UBS Group lowered their price objective on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Wells Fargo & Company boosted their price objective on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Barclays decreased their price objective on Dover from $213.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. StockNews.com lowered Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Finally, Royal Bank of Canada lifted their price objective on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $214.45.

Dover Stock Up 10.0 %

DOV stock opened at $166.19 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The company has a 50-day moving average of $186.48 and a two-hundred day moving average of $191.92. The stock has a market capitalization of $22.78 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. Dover has a 52-week low of $143.04 and a 52-week high of $222.31.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. As a group, equities research analysts anticipate that Dover will post 9.45 EPS for the current year.

Institutional Trading of Dover

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ecofi Investissements SA raised its position in shares of Dover by 1.1% in the fourth quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company’s stock valued at $765,000 after buying an additional 50 shares in the last quarter. Spire Wealth Management increased its stake in Dover by 2.1% during the 4th quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock worth $464,000 after acquiring an additional 52 shares during the period. ORG Partners LLC raised its holdings in Dover by 5.4% in the 4th quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock valued at $214,000 after acquiring an additional 58 shares in the last quarter. Trust Point Inc. grew its holdings in shares of Dover by 3.1% during the 4th quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock worth $367,000 after purchasing an additional 59 shares in the last quarter. Finally, JGP Wealth Management LLC increased its position in shares of Dover by 0.8% in the fourth quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company’s stock worth $1,515,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

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.