Brokerages Set Dover Corporation (NYSE:DOV) Price Target at $218.09

Dover Corporation (NYSE:DOV) has earned a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $218.0909.

Several analysts have weighed in on DOV shares. Oppenheimer upped their price objective on shares of Dover from $225.00 to $228.00 and gave the stock an “outperform” rating in a research note on Friday, November 14th. Weiss Ratings restated a “buy (b-)” rating on shares of Dover in a research report on Monday, December 29th. UBS Group set a $256.00 price target on Dover and gave the company a “buy” rating in a report on Sunday, January 4th. Barclays boosted their price objective on Dover from $195.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 7th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $199.00 price target on shares of Dover in a research report on Thursday, January 15th.

Dover Trading Down 2.6%

DOV stock opened at $201.32 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35. The firm has a market cap of $27.61 billion, a P/E ratio of 12.38, a P/E/G ratio of 1.44 and a beta of 1.31. Dover has a 1-year low of $143.04 and a 1-year high of $222.31. The business’s 50 day moving average is $194.15 and its 200-day moving average is $182.93.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, October 23rd. The industrial products company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.12. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Dover had a return on equity of 17.62% and a net margin of 28.37%.The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.27 earnings per share. Dover has set its FY 2025 guidance at 9.500-9.600 EPS. Equities analysts anticipate that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, November 28th. Dover’s dividend payout ratio is 12.79%.

Insider Activity at Dover

In related news, CFO Christopher B. Woenker sold 1,627 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $186.04, for a total value of $302,687.08. Following the completion of the transaction, the chief financial officer owned 2,553 shares in the company, valued at $474,960.12. The trade was a 38.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total value of $501,804.00. Following the completion of the transaction, the senior vice president owned 72,968 shares in the company, valued at $13,922,294.40. The trade was a 3.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.20% of the company’s stock.

Institutional Trading of Dover

Several institutional investors and hedge funds have recently added to or reduced their stakes in DOV. Brighton Jones LLC grew its position in shares of Dover by 62.1% during the 4th quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock worth $552,000 after buying an additional 1,128 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Dover by 4.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,377 shares of the industrial products company’s stock worth $2,526,000 after acquiring an additional 676 shares during the period. Empowered Funds LLC raised its position in shares of Dover by 11.8% during the 1st quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company’s stock valued at $2,636,000 after acquiring an additional 1,580 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Dover by 19.9% in the 2nd quarter. Parallel Advisors LLC now owns 2,926 shares of the industrial products company’s stock valued at $536,000 after purchasing an additional 486 shares during the period. Finally, Sivia Capital Partners LLC bought a new position in shares of Dover in the 2nd quarter worth $488,000. 84.46% of the stock is owned by institutional investors.

Dover Company Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.