Dover (NYSE:DOV) Price Target Cut to $200.00 by Analysts at Wells Fargo & Company

Dover (NYSE:DOV) had its price target reduced by Wells Fargo & Company from $205.00 to $200.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the industrial products company’s stock.

A number of other equities research analysts also recently weighed in on DOV. Barclays boosted their price target on shares of Dover from $190.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. The Goldman Sachs Group increased their price target on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Mizuho raised their price target on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price objective (up previously from $210.00) on shares of Dover in a report on Wednesday, October 16th. Finally, StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $214.18.

Dover Price Performance

Dover stock opened at $187.93 on Tuesday. The business’s 50-day simple moving average is $197.05 and its 200 day simple moving average is $188.55. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The stock has a market cap of $25.78 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 2.70 and a beta of 1.23. Dover has a 12-month low of $143.96 and a 12-month high of $208.26.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a dividend of $0.515 per share. The ex-dividend date was Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.10%. Dover’s payout ratio is 18.43%.

Hedge Funds Weigh In On Dover

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versor Investments LP acquired a new position in shares of Dover during the third quarter worth about $1,920,000. Brendel Financial Advisors LLC lifted its stake in Dover by 347.7% in the 3rd quarter. Brendel Financial Advisors LLC now owns 22,772 shares of the industrial products company’s stock valued at $4,366,000 after acquiring an additional 17,685 shares in the last quarter. Principal Financial Group Inc. boosted its position in Dover by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock worth $34,100,000 after acquiring an additional 5,372 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Dover by 54.3% during the 3rd quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock worth $2,523,000 after acquiring an additional 4,629 shares in the last quarter. Finally, Virtu Financial LLC raised its holdings in shares of Dover by 85.1% in the third quarter. Virtu Financial LLC now owns 14,373 shares of the industrial products company’s stock valued at $2,756,000 after purchasing an additional 6,608 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

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.