Dover (NYSE:DOV) Price Target Lowered to $220.00 at Oppenheimer

Dover (NYSE:DOV) had its price objective reduced by Oppenheimer from $225.00 to $220.00 in a research report report published on Monday,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

A number of other research firms also recently commented on DOV. Wells Fargo & Company cut their target price on shares of Dover from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Monday, October 6th. Royal Bank Of Canada boosted their price objective on shares of Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Robert W. Baird boosted their price objective on shares of Dover from $219.00 to $234.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Barclays cut their price objective on shares of Dover from $193.00 to $190.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. Finally, Citigroup reissued a “buy” rating and set a $226.00 price objective (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $212.25.

Dover Trading Up 1.5%

NYSE:DOV opened at $169.00 on Monday. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. Dover has a 12 month low of $143.04 and a 12 month high of $222.31. The company has a market cap of $23.18 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. The company has a 50 day simple moving average of $172.47 and a two-hundred day simple moving average of $175.53.

Dover (NYSE:DOV) last posted its earnings results on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. Dover had a net margin of 29.29% and a return on equity of 18.19%. The business had revenue of $1.78 billion during the quarter. Research analysts forecast that Dover will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $2.08 annualized dividend and a yield of 1.2%. This is an increase from Dover’s previous quarterly dividend of $0.52. Dover’s payout ratio is currently 12.55%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. AdvisorShares Investments LLC bought a new position in Dover in the 2nd quarter worth $30,000. North Capital Inc. bought a new position in Dover in the 1st quarter worth $29,000. Vermillion & White Wealth Management Group LLC boosted its holdings in Dover by 122.4% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock worth $31,000 after buying an additional 93 shares during the period. Caldwell Trust Co purchased a new stake in Dover in the 2nd quarter worth $31,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in Dover in the 1st quarter worth $31,000. 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.