Dover (NYSE:DOV) Upgraded to "Strong-Buy" at Wells Fargo & Company

Key Points

• Wells Fargo upgraded Dover to “strong buy,” while the broader analyst consensus remains “Moderate Buy,” with an average price target of $238.21.
• Dover reported quarterly EPS of $2.74, slightly beating estimates of $2.72, while revenue reached $2.19 billion and rose 6.8% year over year.
• Institutional investors own 84.46% of Dover’s shares, with several funds recently increasing their positions or initiating new stakes.

Dover (NYSE:DOV - Get Free Report) was upgraded by stock analysts at Wells Fargo & Company to a "strong-buy" rating in a research report issued to clients and investors on Thursday, Zacks reports.

Several other equities analysts have also commented on the stock. Morgan Stanley increased their price target on shares of Dover from $210.00 to $230.00 and gave the company an "equal weight" rating in a research note on Thursday, June 4th. Wall Street Zen cut shares of Dover from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Robert W. Baird set a $270.00 target price on shares of Dover in a research report on Friday, July 24th. Royal Bank Of Canada cut their price target on shares of Dover from $252.00 to $227.00 and set a "sector perform" rating on the stock in a research note on Friday, July 24th. Finally, Weiss Ratings cut shares of Dover from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $238.21.

Dover Stock Up 2.1%

Shares of NYSE DOV opened at $191.81 on Thursday. The business has a 50-day moving average of $199.24 and a two-hundred day moving average of $209.89. The company has a market capitalization of $25.83 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 1.43 and a beta of 1.15. Dover has a 1 year low of $158.97 and a 1 year high of $237.54. 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 released its quarterly earnings data on Thursday, July 23rd. The industrial products company reported $2.74 EPS for the quarter, beating analysts' consensus estimates of $2.72 by $0.02. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. Dover had a return on equity of 18.32% and a net margin of 13.48%.The business's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, analysts forecast that Dover will post 10.67 earnings per share for the current fiscal year.

Institutional Trading of Dover

Several institutional investors and hedge funds have recently bought and sold shares of the business. Callan Family Office LLC acquired a new stake in shares of Dover during the second quarter worth about $702,000. Northwestern Mutual Wealth Management Co. increased its position in Dover by 3.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 219,445 shares of the industrial products company's stock valued at $42,845,000 after acquiring an additional 7,396 shares during the period. Independent Financial Group LLC purchased a new stake in Dover during the 1st quarter valued at approximately $1,367,000. Squarepoint Ops LLC raised its stake in Dover by 1,356.0% during the 2nd quarter. Squarepoint Ops LLC now owns 25,989 shares of the industrial products company's stock valued at $5,829,000 after acquiring an additional 24,204 shares during the last quarter. Finally, E. Ohman J or Asset Management AB lifted its position in Dover by 3,177.2% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 146,949 shares of the industrial products company's stock worth $32,958,000 after acquiring an additional 142,465 shares during the period. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Company Profile

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

The company's products and solutions include pumps, compressors, fluid-handling equipment, fueling and vehicle-service systems, refrigeration and heat-transfer technologies, industrial winches, digital printing and coding equipment, and systems used in textile and product identification applications.

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