Dover (NYSE:DOV) Given New $214.00 Price Target at Royal Bank of Canada

Dover (NYSE:DOV) had its target price lifted by Royal Bank of Canada from $196.00 to $214.00 in a research report released on Friday morning,Benzinga reports. They currently have a sector perform rating on the industrial products company’s stock.

Other equities analysts also recently issued reports about the company. StockNews.com downgraded Dover from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group raised their target price on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 price target (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Barclays lifted their price objective on Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, UBS Group initiated coverage on shares of Dover in a research report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price target for the company. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $218.91.

Dover Stock Performance

NYSE DOV opened at $203.42 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. Dover has a fifty-two week low of $148.45 and a fifty-two week high of $214.57. The business has a fifty day moving average of $195.57 and a 200-day moving average of $190.34. The stock has a market cap of $27.91 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23.

Dover (NYSE:DOV) last announced its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting the consensus estimate of $2.20. Dover had a net margin of 18.63% and a return on equity of 23.61%. As a group, analysts predict that Dover will post 8.17 earnings per share for the current fiscal year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Friday, November 29th. Dover’s dividend payout ratio is currently 18.43%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC acquired a new stake in Dover in the 2nd quarter valued at approximately $3,175,000. Czech National Bank increased its holdings in shares of Dover by 6.9% during the third quarter. Czech National Bank now owns 28,001 shares of the industrial products company’s stock valued at $5,369,000 after purchasing an additional 1,812 shares during the period. SG Americas Securities LLC raised its stake in shares of Dover by 167.7% during the third quarter. SG Americas Securities LLC now owns 101,591 shares of the industrial products company’s stock valued at $19,479,000 after purchasing an additional 63,638 shares in the last quarter. Burns J W & Co. Inc. NY acquired a new stake in Dover in the third quarter worth about $302,000. Finally, Handelsbanken Fonder AB grew its position in Dover by 15.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 39,522 shares of the industrial products company’s stock valued at $7,578,000 after buying an additional 5,177 shares in the last quarter. Institutional investors and hedge funds 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.