Dover Corporation (NYSE:DOV) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Dover Corporation received a consensus rating of "Moderate Buy" from thirteen analysts, with five recommending a hold and eight a buy.
• The company recently announced a quarterly dividend of $0.52 per share, consistent with its previous dividend, representing a 1.3% yield.
• Dover's quarterly earnings exceeded expectations with an EPS of $2.44, and the company has projected an FY 2025 EPS guidance of 9.350-9.550.

Shares of Dover Corporation (NYSE:DOV - Get Free Report) have earned a consensus rating of "Moderate Buy" from the thirteen analysts that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $212.4167.

DOV has been the topic of several research reports. Barclays reduced their price objective on Dover from $193.00 to $190.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 1st. Mizuho lifted their price target on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Robert W. Baird lifted their price target on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Royal Bank Of Canada lifted their price target on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. lifted their price target on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, July 28th.

Dover Trading Down 1.6%

DOV opened at $162.10 on Friday. The stock's fifty day moving average is $173.98 and its two-hundred day moving average is $176.01. The company has a market capitalization of $22.23 billion, a P/E ratio of 9.78, a PEG ratio of 1.31 and a beta of 1.26. Dover has a 52 week low of $143.04 and a 52 week high of $222.31. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.39 by $0.05. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%.Dover's quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the business posted $2.36 EPS. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Analysts forecast that Dover will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a dividend of $0.52 per share. This is a positive change from Dover's previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 29th. This represents a $2.08 annualized dividend and a yield of 1.3%. Dover's dividend payout ratio (DPR) is presently 12.55%.

Institutional Trading of Dover

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Dover by 62.1% in the 4th quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company's stock valued at $552,000 after buying an additional 1,128 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of Dover by 7.0% in the 1st quarter. Park Avenue Securities LLC now owns 8,762 shares of the industrial products company's stock valued at $1,539,000 after buying an additional 570 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Dover by 45.4% in the 1st quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company's stock valued at $106,000 after buying an additional 187 shares during the period. Wealthcare Advisory Partners LLC acquired a new position in shares of Dover in the 1st quarter valued at about $203,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Dover by 104.5% in the 1st quarter. GAMMA Investing LLC now owns 3,205 shares of the industrial products company's stock valued at $563,000 after buying an additional 1,638 shares during the period. Institutional investors and hedge funds 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.

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