Dover (NYSE:DOV) Price Target Cut to $208.00 by Analysts at JPMorgan Chase & Co.

Dover (NYSE:DOV) had its price objective decreased by equities researchers at JPMorgan Chase & Co. from $212.00 to $208.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 10.09% from the company’s current price.

Other equities analysts have also issued reports about the company. Barclays lifted their price objective on Dover from $190.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Oppenheimer restated an “outperform” rating and issued a $215.00 price objective (up previously from $210.00) on shares of Dover in a research note on Wednesday, October 16th. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. UBS Group initiated coverage on shares of Dover in a report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price objective on the stock. Finally, Wells Fargo & Company lowered their price target on Dover from $205.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $212.55.

Dover Price Performance

NYSE DOV opened at $188.93 on Wednesday. The company has a market cap of $25.92 billion, a P/E ratio of 16.90, a P/E/G ratio of 2.70 and a beta of 1.22. Dover has a 1 year low of $143.96 and a 1 year high of $208.26. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $196.72 and a 200 day simple moving average of $188.71.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DOV. Avanza Fonder AB acquired a new position in shares of Dover during the fourth quarter valued at $2,354,000. JGP Wealth Management LLC boosted its position in shares of Dover by 0.8% in the 4th 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 last quarter. Park Avenue Securities LLC grew its stake in shares of Dover by 62.1% during the fourth quarter. Park Avenue Securities LLC now owns 8,192 shares of the industrial products company’s stock worth $1,537,000 after purchasing an additional 3,138 shares during the period. Assenagon Asset Management S.A. increased its holdings in Dover by 195.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock valued at $17,077,000 after purchasing an additional 60,235 shares during the last quarter. Finally, Oak Thistle LLC acquired a new position in Dover in the fourth quarter valued at about $492,000. 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.