Dover (NYSE:DOV) PT Lowered to $162.00

Dover (NYSE:DOVGet Rating) had its target price dropped by investment analysts at Royal Bank of Canada from $170.00 to $162.00 in a research note issued on Friday, The Fly reports. Royal Bank of Canada’s price objective would indicate a potential upside of 12.38% from the stock’s previous close.

DOV has been the subject of several other reports. Citigroup lifted their price target on shares of Dover from $218.00 to $221.00 in a report on Friday, January 28th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Dover from $187.00 to $182.00 and set a “hold” rating for the company in a report on Thursday, April 14th. Zacks Investment Research lowered shares of Dover from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a research note on Wednesday, March 16th. Morgan Stanley reduced their target price on shares of Dover from $196.00 to $177.00 and set an “equal weight” rating for the company in a research note on Thursday, April 7th. Finally, Robert W. Baird reduced their target price on shares of Dover from $194.00 to $169.00 in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $178.50.

DOV opened at $144.16 on Friday. The company has a 50-day moving average of $154.88 and a 200-day moving average of $165.50. The company has a market capitalization of $20.77 billion, a P/E ratio of 18.65, a PEG ratio of 1.22 and a beta of 1.40. Dover has a 1-year low of $138.50 and a 1-year high of $184.04. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 1.36.

Dover (NYSE:DOVGet Rating) last posted its quarterly earnings results on Thursday, April 21st. The industrial products company reported $1.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.07. Dover had a net margin of 14.21% and a return on equity of 28.99%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the business posted $1.81 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts expect that Dover will post 8.57 earnings per share for the current fiscal year.

In related news, VP Anthony K. Kosinski sold 3,287 shares of the business’s stock in a transaction that occurred on Monday, March 14th. The shares were sold at an average price of $153.43, for a total value of $504,324.41. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard J. Tobin sold 31,515 shares of the business’s stock in a transaction that occurred on Thursday, March 3rd. The stock was sold at an average price of $156.91, for a total transaction of $4,945,018.65. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Selective Wealth Management Inc. acquired a new stake in shares of Dover during the fourth quarter valued at approximately $27,000. First Community Trust NA acquired a new stake in shares of Dover during the fourth quarter valued at approximately $30,000. Richwood Investment Advisors LLC acquired a new stake in shares of Dover during the fourth quarter valued at approximately $31,000. CVA Family Office LLC acquired a new stake in shares of Dover during the fourth quarter valued at approximately $35,000. Finally, Allworth Financial LP raised its holdings in shares of Dover by 45.2% during the fourth quarter. Allworth Financial LP now owns 196 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 61 shares during the period. Institutional investors and hedge funds own 82.30% of the company’s stock.

About Dover (Get Rating)

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides various equipment, component, software, solution, and services that are used in aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.

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