JPMorgan Chase & Co. Issues Positive Forecast for Dover (NYSE:DOV) Stock Price

Dover (NYSE:DOV) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $208.00 to $230.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 11.67% from the stock’s previous close.

Several other equities research analysts also recently commented on DOV. The Goldman Sachs Group lifted their price objective on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Wells Fargo & Company lifted their price target on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday. Royal Bank of Canada raised their target price on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday. Oppenheimer reiterated an “outperform” rating and set a $215.00 target price (up from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Finally, Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a research note on Monday, October 28th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and a consensus price target of $219.45.

Dover Stock Up 0.3 %

Shares of NYSE:DOV traded up $0.54 on Friday, hitting $205.96. 398,986 shares of the company traded hands, compared to its average volume of 830,356. The company has a market cap of $28.26 billion, a PE ratio of 18.50, a PEG ratio of 2.03 and a beta of 1.23. The stock has a 50 day simple moving average of $195.60 and a 200-day simple moving average of $190.22. Dover has a 52 week low of $148.45 and a 52 week high of $214.57. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53.

Dover (NYSE:DOV) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.20. Dover had a net margin of 18.63% and a return on equity of 23.61%. As a group, research analysts expect that Dover will post 8.17 earnings per share for the current year.

Institutional Investors Weigh In On Dover

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Life Planners bought a new position in shares of Dover in the fourth quarter worth approximately $28,000. Ashton Thomas Securities LLC purchased a new stake in Dover in the 3rd quarter worth $33,000. R Squared Ltd bought a new position in Dover during the fourth quarter valued at approximately $34,000. Kieckhefer Group LLC purchased a new position in shares of Dover in the fourth quarter valued at $38,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Dover in the 4th quarter worth about $46,000. 84.46% of the stock is owned by hedge funds and other 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.