Dover (NYSE:DOV) Price Target Cut to $200.00 by Analysts at Wells Fargo & Company

Dover (NYSE:DOV) had its price target decreased by Wells Fargo & Company from $205.00 to $200.00 in a report published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the industrial products company’s stock.

A number of other equities analysts have also issued reports on DOV. JPMorgan Chase & Co. boosted their target price on shares of Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. The Goldman Sachs Group upped their price objective on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Barclays lifted their target price on Dover from $190.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Finally, Citigroup boosted their price objective on Dover from $226.00 to $236.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $214.18.

Dover Stock Performance

DOV opened at $187.93 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average price is $197.05 and its two-hundred day moving average price is $188.55. The firm has a market capitalization of $25.78 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 2.70 and a beta of 1.23. Dover has a 12-month low of $143.96 and a 12-month high of $208.26.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $0.515 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a yield of 1.10%. Dover’s dividend payout ratio (DPR) is presently 18.43%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of DOV. Ashton Thomas Securities LLC acquired a new stake in Dover during the 3rd quarter valued at $33,000. Fairscale Capital LLC acquired a new stake in shares of Dover in the second quarter valued at $34,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Dover in the second quarter valued at about $41,000. Avior Wealth Management LLC lifted its position in Dover by 183.5% during the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock worth $49,000 after buying an additional 167 shares in the last quarter. Finally, Coastline Trust Co bought a new stake in Dover during the 3rd quarter worth about $50,000. 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.