Dover (NYSE:DOV) PT Lowered to $146.00

Dover (NYSE:DOVGet Rating) had its price target cut by analysts at The Goldman Sachs Group from $176.00 to $146.00 in a report released on Thursday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 23.18% from the stock’s previous close.

Several other analysts have also commented on the stock. Wells Fargo & Company decreased their price target on shares of Dover from $161.00 to $159.00 and set an “equal weight” rating for the company in a research report on Friday, April 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Dover from $187.00 to $182.00 and set a “hold” rating on the stock in a report on Thursday, April 14th. Morgan Stanley cut their price objective on shares of Dover from $161.00 to $149.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 31st. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Thursday, June 9th. Finally, Barclays cut their price objective on shares of Dover from $155.00 to $140.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $171.67.

Shares of DOV stock traded down $0.89 during mid-day trading on Thursday, hitting $118.53. 5,867 shares of the stock traded hands, compared to its average volume of 799,945. The stock has a market cap of $17.09 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.00 and a beta of 1.42. The stock’s fifty day moving average is $133.53 and its two-hundred day moving average is $154.13. Dover has a 52-week low of $117.21 and a 52-week high of $184.04. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.44 and a quick ratio of 0.85.

Dover (NYSE:DOVGet Rating) last released its quarterly earnings results on Thursday, April 21st. The industrial products company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. Dover had a net margin of 13.81% and a return on equity of 27.82%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.81 earnings per share. As a group, equities analysts forecast that Dover will post 8.55 EPS for the current fiscal year.

In other news, SVP David J. Malinas acquired 350 shares of the company’s stock in a transaction dated Monday, April 25th. The shares were acquired at an average price of $139.44 per share, with a total value of $48,804.00. Following the purchase, the senior vice president now directly owns 2,744 shares of the company’s stock, valued at $382,623.36. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in DOV. Dark Forest Capital Management LP purchased a new position in shares of Dover during the 3rd quarter valued at approximately $162,000. MML Investors Services LLC lifted its holdings in Dover by 7.7% in the 3rd quarter. MML Investors Services LLC now owns 10,967 shares of the industrial products company’s stock valued at $1,705,000 after purchasing an additional 782 shares in the last quarter. LPL Financial LLC lifted its holdings in Dover by 20.5% in the 3rd quarter. LPL Financial LLC now owns 47,388 shares of the industrial products company’s stock valued at $7,369,000 after purchasing an additional 8,049 shares in the last quarter. UBS Group AG lifted its holdings in Dover by 4.7% in the 3rd quarter. UBS Group AG now owns 324,081 shares of the industrial products company’s stock valued at $50,395,000 after purchasing an additional 14,467 shares in the last quarter. Finally, Toroso Investments LLC lifted its holdings in Dover by 18.1% in the 3rd quarter. Toroso Investments LLC now owns 2,411 shares of the industrial products company’s stock valued at $375,000 after purchasing an additional 370 shares in the last quarter. Hedge funds and other institutional investors own 84.14% of the company’s stock.

Dover Company Profile (Get Rating)

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides various equipment, component, software, solution, and services that are used in aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.

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