Dover (NYSE:DOV) Given New $190.00 Price Target at Wells Fargo & Company

Dover (NYSE:DOV) had its target price boosted by Wells Fargo & Company from $180.00 to $190.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

A number of other brokerages have also recently issued reports on DOV. Barclays raised their price objective on Dover from $180.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. Royal Bank Of Canada restated a “sector perform” rating and set a $176.00 price target on shares of Dover in a research report on Friday, April 25th. Robert W. Baird cut their target price on shares of Dover from $238.00 to $219.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Citigroup decreased their target price on shares of Dover from $244.00 to $201.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Mizuho upped their price target on shares of Dover from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, June 13th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $206.50.

Dover Trading Down 0.5%

Shares of DOV stock opened at $187.23 on Tuesday. The company has a market capitalization of $25.67 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.81 and a beta of 1.26. Dover has a 52-week low of $143.04 and a 52-week high of $222.31. The business’s fifty day moving average is $178.64 and its 200 day moving average is $183.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.56 and a current ratio of 2.13.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.06. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Dover had a net margin of 28.85% and a return on equity of 19.54%. Dover’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.95 earnings per share. On average, equities research analysts anticipate that Dover will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.10%. Dover’s payout ratio is presently 12.41%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DOV. North Capital Inc. purchased a new position in Dover in the first quarter worth about $29,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Dover in the first quarter worth $31,000. Truvestments Capital LLC raised its holdings in Dover by 1,005.9% during the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 171 shares during the period. Costello Asset Management INC purchased a new position in Dover in the 1st quarter worth approximately $35,000. Finally, Ransom Advisory Ltd bought a new position in shares of Dover during the first quarter worth $35,000. 84.46% of the stock is owned by institutional investors.

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.