JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Dover (NYSE:DOV) Stock

Dover (NYSE:DOV) had its price objective hoisted by JPMorgan Chase & Co. from $190.00 to $211.00 in a report issued on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the industrial products company’s stock.

A number of other research firms have also recently issued reports on DOV. UBS Group reduced their target price on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Citigroup reduced their target price on shares of Dover from $244.00 to $201.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Oppenheimer reiterated an “outperform” rating and issued a $225.00 target price (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Robert W. Baird reduced their target price on shares of Dover from $238.00 to $219.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Finally, Barclays boosted their price objective on shares of Dover from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.17.

Dover Stock Performance

DOV stock opened at $186.64 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The stock has a market cap of $25.59 billion, a P/E ratio of 9.60, a P/E/G ratio of 2.06 and a beta of 1.28. The firm has a 50 day simple moving average of $171.82 and a 200 day simple moving average of $188.16. Dover has a 52 week low of $143.04 and a 52 week high of $222.31.

Dover (NYSE:DOV) last posted its earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.06. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Dover had a net margin of 32.95% and a return on equity of 21.03%. The company’s revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.95 earnings per share. Research analysts anticipate that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Friday, May 30th. Dover’s dividend payout ratio is 12.41%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Financial Life Planners acquired a new position in Dover during the 4th quarter worth $28,000. North Capital Inc. bought a new position in shares of Dover during the 1st quarter worth about $29,000. N.E.W. Advisory Services LLC bought a new position in shares of Dover during the 1st quarter worth about $31,000. Truvestments Capital LLC increased its holdings in shares of Dover by 1,005.9% during the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 171 shares during the period. Finally, R Squared Ltd bought a new position in shares of Dover during the 4th quarter worth about $34,000. Institutional investors and hedge funds 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.