Dover (NYSE:DOV) Price Target Raised to $230.00

Dover (NYSE:DOV) had its price target increased by equities research analysts at JPMorgan Chase & Co. from $220.00 to $230.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 11.01% from the company’s current price.

DOV has been the subject of several other reports. Weiss Ratings restated a “buy (b-)” rating on shares of Dover in a research note on Monday, December 29th. Barclays raised their price objective on Dover from $195.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. Wells Fargo & Company upped their target price on Dover from $200.00 to $205.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. Citigroup reissued a “buy” rating on shares of Dover in a report on Monday. Finally, Morgan Stanley upped their price objective on shares of Dover from $185.00 to $195.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Dover has an average rating of “Moderate Buy” and a consensus target price of $218.09.

Dover Stock Up 0.6%

Shares of NYSE DOV traded up $1.34 during mid-day trading on Friday, reaching $207.20. 114,550 shares of the company were exchanged, compared to its average volume of 991,244. The firm has a 50-day moving average of $192.79 and a 200 day moving average of $182.59. Dover has a 1 year low of $143.04 and a 1 year high of $222.31. The company has a quick ratio of 1.44, a current ratio of 2.04 and a debt-to-equity ratio of 0.35. The stock has a market cap of $28.42 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 1.42 and a beta of 1.31.

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

Insider Buying and Selling

In related news, CFO Christopher B. Woenker sold 1,627 shares of the firm’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $186.04, for a total transaction of $302,687.08. Following the completion of the transaction, the chief financial officer owned 2,553 shares of the company’s stock, valued at $474,960.12. This trade represents a 38.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total transaction of $501,804.00. Following the transaction, the senior vice president owned 72,968 shares of the company’s stock, valued at $13,922,294.40. This represents a 3.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Dover

Institutional investors and hedge funds have recently modified their holdings of the stock. Machina Capital S.A.S. boosted its position in Dover by 38.8% in the 2nd quarter. Machina Capital S.A.S. now owns 8,779 shares of the industrial products company’s stock valued at $1,609,000 after buying an additional 2,452 shares during the period. Nordea Investment Management AB boosted its holdings in Dover by 9.3% in the second quarter. Nordea Investment Management AB now owns 124,031 shares of the industrial products company’s stock valued at $22,701,000 after purchasing an additional 10,581 shares during the period. Generali Asset Management SPA SGR grew its stake in Dover by 103.4% during the 3rd quarter. Generali Asset Management SPA SGR now owns 16,020 shares of the industrial products company’s stock worth $2,673,000 after purchasing an additional 8,145 shares in the last quarter. Advisory Resource Group increased its holdings in Dover by 7.7% during the 2nd quarter. Advisory Resource Group now owns 28,732 shares of the industrial products company’s stock worth $5,264,000 after purchasing an additional 2,047 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Dover by 115.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 33,618 shares of the industrial products company’s stock worth $6,341,000 after purchasing an additional 17,979 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

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.