Citigroup Inc. reiterated their neutral rating on shares of Dover Corporation (NYSE:DOV) in a report issued on Monday morning. Citigroup Inc. currently has a $96.00 target price on the industrial products company’s stock, up from their prior target price of $90.00.
Several other equities research analysts have also recently weighed in on the company. Morgan Stanley restated an overweight rating and set a $106.00 target price (up from $97.00) on shares of Dover Corporation in a research note on Monday, October 2nd. J P Morgan Chase & Co upgraded Dover Corporation from a neutral rating to an overweight rating and upped their target price for the stock from $80.00 to $105.00 in a research note on Wednesday, September 20th. Seaport Global Securities restated a neutral rating on shares of Dover Corporation in a research note on Wednesday, September 13th. Robert W. Baird restated a buy rating and set a $95.00 target price on shares of Dover Corporation in a research note on Tuesday, September 12th. Finally, Royal Bank Of Canada restated a hold rating and set a $91.00 target price on shares of Dover Corporation in a research note on Wednesday, September 6th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $93.31.
Shares of Dover Corporation (NYSE:DOV) opened at 94.07 on Monday. The company’s 50-day moving average price is $89.72 and its 200-day moving average price is $83.89. The firm has a market capitalization of $14.65 billion, a PE ratio of 23.52 and a beta of 1.27. Dover Corporation has a 12-month low of $65.50 and a 12-month high of $94.50.
ILLEGAL ACTIVITY NOTICE: “Dover Corporation (DOV) Stock Rating Reaffirmed by Citigroup Inc.” was reported by Community Financial News and is the property of of Community Financial News. If you are accessing this news story on another website, it was illegally stolen and republished in violation of US & international trademark & copyright laws. The legal version of this news story can be accessed at https://www.com-unik.info/2017/10/13/dover-corporation-dov-stock-rating-reaffirmed-by-citigroup-inc.html.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.00%. This is an increase from Dover Corporation’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Tuesday, August 29th. Dover Corporation’s dividend payout ratio is presently 47.12%.
In other Dover Corporation news, Director Michael B. Stubbs sold 25,000 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the completion of the sale, the director now directly owns 275,344 shares in the company, valued at approximately $23,965,941.76. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.50% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Dover Corporation by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 16,549,433 shares of the industrial products company’s stock worth $1,327,596,000 after acquiring an additional 370,572 shares during the period. BlackRock Inc. grew its holdings in Dover Corporation by 3.9% during the 2nd quarter. BlackRock Inc. now owns 10,314,301 shares of the industrial products company’s stock worth $827,412,000 after acquiring an additional 389,449 shares during the period. Bank of America Corp DE grew its holdings in Dover Corporation by 9.4% during the 1st quarter. Bank of America Corp DE now owns 6,446,209 shares of the industrial products company’s stock worth $517,953,000 after acquiring an additional 553,136 shares during the period. Pzena Investment Management LLC grew its holdings in Dover Corporation by 0.3% during the 2nd quarter. Pzena Investment Management LLC now owns 5,599,307 shares of the industrial products company’s stock worth $449,176,000 after acquiring an additional 17,738 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Dover Corporation by 11.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,962,208 shares of the industrial products company’s stock worth $398,069,000 after acquiring an additional 511,469 shares during the period. Hedge funds and other institutional investors own 86.01% of the company’s stock.
About Dover Corporation
Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.
What are top analysts saying about Dover Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Dover Corporation and related companies.