Dover (NYSE:DOV) Given New $236.00 Price Target at Citigroup

Dover (NYSE:DOV) had its price target lifted by Citigroup from $226.00 to $236.00 in a research note published on Monday,Benzinga reports. Citigroup currently has a buy rating on the industrial products company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Mizuho increased their price target on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised their price target on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. UBS Group started coverage on shares of Dover in a report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 target price on the stock. Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a report on Monday, October 28th. Finally, StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Dover has an average rating of “Moderate Buy” and a consensus price target of $213.00.

Dover Price Performance

DOV stock opened at $201.74 on Monday. The firm has a 50 day simple moving average of $196.41 and a two-hundred day simple moving average of $186.96. The stock has a market cap of $27.68 billion, a PE ratio of 18.04, a P/E/G ratio of 2.71 and a beta of 1.22. Dover has a one year low of $143.52 and a one year high of $208.26. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.06 annualized dividend and a dividend yield of 1.02%. Dover’s dividend payout ratio (DPR) is 18.43%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ORG Partners LLC boosted its position in shares of Dover by 1,414.2% during the second quarter. ORG Partners LLC now owns 4,255 shares of the industrial products company’s stock valued at $754,000 after buying an additional 3,974 shares during the period. Versor Investments LP acquired a new stake in shares of Dover during the third quarter worth about $1,920,000. Brendel Financial Advisors LLC boosted its holdings in Dover by 347.7% in the third quarter. Brendel Financial Advisors LLC now owns 22,772 shares of the industrial products company’s stock valued at $4,366,000 after purchasing an additional 17,685 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 purchasing an additional 4,629 shares during the period. Finally, National Pension Service increased its stake in shares of Dover by 3.0% in the 3rd quarter. National Pension Service now owns 216,010 shares of the industrial products company’s stock valued at $41,418,000 after purchasing an additional 6,241 shares in the last quarter. Hedge funds and other institutional investors 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.