Dover (NYSE:DOV – Free Report) had its price objective reduced by UBS Group from $217.00 to $211.00 in a report issued on Friday,Benzinga reports. UBS Group currently has a neutral rating on the industrial products company’s stock.
Several other research analysts have also recently commented on the stock. Citigroup lowered their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. The Goldman Sachs Group lifted their price objective on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Barclays upped their price target on shares of Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a report on Friday. Wells Fargo & Company lifted their price target on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Oppenheimer reissued an “outperform” rating and set a $225.00 price target (up from $220.00) on shares of Dover in a research note on Friday. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $218.91.
Check Out Our Latest Stock Analysis on Dover
Dover Price Performance
Dover (NYSE:DOV – Get Free Report) last released its quarterly 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%. Equities analysts expect that Dover will post 8.17 earnings per share for the current year.
Dover Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Friday, November 29th. Dover’s payout ratio is 18.43%.
Institutional Investors Weigh In On Dover
Hedge funds have recently made changes to their positions in the business. Financial Life Planners purchased a new stake in Dover in the 4th quarter worth about $28,000. Ashton Thomas Securities LLC bought a new position in Dover during the third quarter valued at approximately $33,000. R Squared Ltd bought a new position in Dover during the 4th quarter worth approximately $34,000. Kieckhefer Group LLC bought a new position in shares of Dover during the fourth quarter valued at about $38,000. Finally, Golden State Wealth Management LLC purchased a new stake in Dover in the 4th quarter worth approximately $46,000. 84.46% of the stock is currently owned by institutional investors.
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.
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