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

Key Points

• Dover Corporation has received a consensus recommendation of "Moderate Buy" from twelve brokerages, with an average 12-month price target of $213.92.
• The company reported $2.44 EPS in its last quarterly earnings, exceeding estimates, with a net margin of 29.29% and a quarterly revenue increase of 5.2% year-over-year.
• Dover has recently announced a quarterly dividend of $0.52 per share, reflecting a dividend yield of 1.2%, and will be paid on September 15th.

Shares of Dover Corporation (NYSE:DOV - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twelve brokerages that are covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $213.9167.

Several analysts have commented on DOV shares. Royal Bank Of Canada increased their price target on shares of Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Wells Fargo & Company upped their price objective on shares of Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Citigroup restated a "buy" rating and set a $226.00 price objective (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. JPMorgan Chase & Co. upped their price objective on shares of Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Finally, Robert W. Baird upped their price objective on shares of Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a report on Friday, July 25th.

Dover Stock Performance

DOV stock opened at $178.5770 on Thursday. The firm has a market cap of $24.49 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 1.43 and a beta of 1.26. The firm has a 50-day simple moving average of $182.19 and a two-hundred day simple moving average of $181.17. Dover has a one year low of $143.04 and a one year high of $222.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95.

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

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. This is an increase from Dover's previous quarterly dividend of $0.52. The ex-dividend date is Friday, August 29th. Dover's dividend payout ratio is currently 12.42%.

Hedge Funds Weigh In On Dover

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Legacy Financial Advisors Inc. lifted its holdings in Dover by 1.4% in the 1st quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company's stock valued at $726,000 after purchasing an additional 57 shares in the last quarter. Summit Financial LLC lifted its holdings in Dover by 0.9% in the 1st quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company's stock valued at $1,159,000 after purchasing an additional 60 shares in the last quarter. Harbour Investments Inc. lifted its holdings in Dover by 51.7% in the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 60 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its holdings in Dover by 0.9% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 6,911 shares of the industrial products company's stock valued at $1,266,000 after purchasing an additional 60 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its holdings in Dover by 4.9% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,282 shares of the industrial products company's stock valued at $235,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Dover Company Profile

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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