JPMorgan Chase & Co. Lowers Dover (NYSE:DOV) Price Target to $189.00

Dover (NYSE:DOV) had its price objective decreased by investment analysts at JPMorgan Chase & Co. from $230.00 to $189.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 22.39% from the company’s current price.

A number of other research firms have also recently commented on DOV. Citigroup cut their price objective on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada upped their price target on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price objective (up from $220.00) on shares of Dover in a report on Friday, January 31st. UBS Group reduced their target price on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Finally, StockNews.com lowered Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $214.45.

Dover Stock Performance

Shares of NYSE DOV traded up $2.96 during midday trading on Tuesday, reaching $154.43. 461,633 shares of the stock were exchanged, compared to its average volume of 934,002. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a market cap of $21.17 billion, a price-to-earnings ratio of 7.95, a PEG ratio of 2.06 and a beta of 1.24. The firm has a 50-day simple moving average of $189.89 and a two-hundred day simple moving average of $192.84. Dover has a twelve month low of $143.04 and a twelve month high of $222.31.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. As a group, analysts anticipate that Dover will post 9.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Dover

Institutional investors and hedge funds have recently bought and sold shares of the company. Financial Life Planners purchased a new position in Dover in the fourth quarter worth approximately $28,000. R Squared Ltd acquired a new position in shares of Dover in the 4th quarter worth approximately $34,000. EverSource Wealth Advisors LLC boosted its position in shares of Dover by 79.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 87 shares during the period. Kieckhefer Group LLC acquired a new stake in Dover in the 4th quarter valued at approximately $38,000. Finally, Orion Capital Management LLC purchased a new stake in Dover in the fourth quarter valued at approximately $43,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.