Dover (NYSE:DOV) Stock Gets Price Target Reduction from Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered Dover’s price target from $227 to $216 while maintaining a “sector perform” rating, implying 12.38% potential upside from the previous close.
• Analyst sentiment remains generally positive, with 10 Buy ratings and five Hold ratings; Dover has a “Moderate Buy” consensus rating and an average price target of $237.43.
• Dover exceeded quarterly EPS estimates, reporting $2.74 versus $2.72 expected, while revenue rose 6.8% year over year to $2.19 billion. Institutional investors own 84.46% of the company’s stock.

Dover (NYSE:DOV - Get Free Report) had its price target cut by stock analysts at Royal Bank Of Canada from $227.00 to $216.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a "sector perform" rating on the industrial products company's stock. Royal Bank Of Canada's target price indicates a potential upside of 12.38% from the stock's previous close.

Other analysts have also recently issued reports about the company. Weiss Ratings cut Dover from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, September 2nd. Wolfe Research restated an "outperform" rating and set a $262.00 price target on shares of Dover in a report on Thursday, July 9th. Wall Street Zen lowered shares of Dover from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Robert W. Baird set a $270.00 target price on Dover in a research note on Friday, July 24th. Finally, BMO Capital Markets raised Dover from a "market perform" rating to an "outperform" rating and dropped their price objective for the company from $255.00 to $240.00 in a research report on Friday, July 24th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $237.43.

Dover Stock Performance

NYSE DOV opened at $192.20 on Wednesday. The stock has a market capitalization of $25.89 billion, a PE ratio of 23.13, a P/E/G ratio of 1.67 and a beta of 1.13. Dover has a 1 year low of $161.27 and a 1 year high of $237.54. The company's 50 day simple moving average is $195.44 and its two-hundred day simple moving average is $208.14. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.98 and a quick ratio of 1.41.

Dover (NYSE:DOV - Get Free Report) last announced its earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.02. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.21 billion. Dover had a net margin of 13.48% and a return on equity of 18.32%. Dover's revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.44 earnings per share. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Analysts predict that Dover will post 10.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dover

Several hedge funds and other institutional investors have recently modified their holdings of DOV. BlackRock Inc. purchased a new position in Dover during the second quarter worth about $2,347,134,000. Bank of New York Mellon Corp increased its holdings in Dover by 5.2% in the 1st quarter. Bank of New York Mellon Corp now owns 3,030,972 shares of the industrial products company's stock valued at $631,806,000 after purchasing an additional 150,319 shares during the last quarter. Bank of America Corp DE purchased a new stake in Dover in the second quarter valued at approximately $625,375,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Dover by 2.2% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 969,469 shares of the industrial products company's stock worth $217,433,000 after buying an additional 20,590 shares during the period. Finally, Hsbc Holdings PLC purchased a new stake in shares of Dover in the 2nd quarter valued at $211,269,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Company Profile

Dover Corporation is a diversified global manufacturer that develops and produces specialized equipment, components and engineered systems for industrial and commercial customers. Its businesses serve markets including industrial manufacturing, energy, transportation, food and beverage, refrigeration, and building services.

The company's products include pumps, compressors, fluid-handling equipment, fueling and dispensing systems, refrigeration and heat-transfer technologies, printing and marking equipment, and engineered components.

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