Dover (NYSE:DOV) Price Target Raised to $193.00

Key Points

• Barclays has raised its target price for Dover (NYSE:DOV) from $185.00 to $193.00, indicating a potential upside of 4.53% from the current stock price.
• Other analysts like Citigroup and JPMorgan Chase have set higher target prices of $226.00 and $211.00, respectively, suggesting a generally positive outlook for the stock.
• Dover reported a quarterly earnings per share of $2.44, exceeding analyst estimates and showing a year-over-year revenue increase of 5.2%.
• The stock currently holds an average rating of "Moderate Buy" with an average target price of $213.42, reflecting strong investor confidence.

Dover (NYSE:DOV - Get Free Report) had its price target hoisted by equities researchers at Barclays from $185.00 to $193.00 in a report issued on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the industrial products company's stock. Barclays's target price would indicate a potential upside of 3.46% from the company's current price.

Several other brokerages have also weighed in on DOV. Citigroup restated a "buy" rating and issued a $226.00 price objective (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. Robert W. Baird boosted their target price on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research report on Friday. JPMorgan Chase & Co. boosted their target price on Dover from $190.00 to $211.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Morgan Stanley started coverage on Dover in a research report on Monday, April 14th. They set an "equal weight" rating and a $185.00 target price on the stock. Finally, Mizuho boosted their target price on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Dover presently has an average rating of "Moderate Buy" and an average target price of $213.42.

Dover Stock Performance

DOV stock traded down $0.09 during trading on Friday, reaching $186.55. 1,579,882 shares of the company's stock were exchanged, compared to its average volume of 1,078,183. The company has a quick ratio of 1.56, a current ratio of 2.13 and a debt-to-equity ratio of 0.36. Dover has a 1-year low of $143.04 and a 1-year high of $222.31. The company's fifty day moving average price is $182.63 and its 200-day moving average price is $183.16. The firm has a market cap of $25.58 billion, a PE ratio of 11.25, a P/E/G ratio of 1.57 and a beta of 1.26.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.39 by $0.05. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 18.77% and a net margin of 29.29%. The firm's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.36 EPS. On average, research analysts expect that Dover will post 9.45 EPS for the current fiscal year.

Institutional Trading of Dover

Large investors have recently made changes to their positions in the stock. NorthRock Partners LLC acquired a new position in Dover in the 2nd quarter valued at approximately $386,000. Astoria Portfolio Advisors LLC. acquired a new position in Dover in the 2nd quarter valued at approximately $211,000. Sequoia Financial Advisors LLC raised its holdings in Dover by 3.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,094 shares of the industrial products company's stock valued at $567,000 after acquiring an additional 112 shares in the last quarter. Vest Financial LLC raised its holdings in shares of Dover by 38.0% in the 2nd quarter. Vest Financial LLC now owns 382,428 shares of the industrial products company's stock worth $70,072,000 after buying an additional 105,366 shares in the last quarter. Finally, MGO One Seven LLC raised its holdings in shares of Dover by 6.3% in the 2nd quarter. MGO One Seven LLC now owns 2,391 shares of the industrial products company's stock worth $438,000 after buying an additional 141 shares in the last quarter. Institutional investors own 84.46% of the company's stock.

About Dover

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.