Analysts Set Dover Corporation (NYSE:DOV) Price Target at $213.92

Key Points

• Dover Corporation has earned an average analyst recommendation of "Moderate Buy", with five hold recommendations and seven buy recommendations from twelve analysts.
• The company's latest earnings report showed $2.44 earnings per share, exceeding estimates, and a 5.2% year-over-year revenue increase to $2.05 billion.
• Dover recently declared a quarterly dividend of $0.52 per share, representing an annual yield of 1.2%, which marks an increase from the previous dividend.

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

A number of equities analysts have weighed in on DOV shares. Wells Fargo & Company upped their price objective on shares of Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Barclays upped their price objective on shares of Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Royal Bank Of Canada upped their price objective on shares of Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. 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 research note on Monday, July 28th. Finally, Mizuho upped their price objective on shares of Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday, June 13th.

Institutional Investors Weigh In On Dover

Several hedge funds and other institutional investors have recently bought and sold shares of DOV. Brighton Jones LLC increased its position in Dover by 62.1% during the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company's stock worth $552,000 after purchasing an additional 1,128 shares during the last quarter. Focus Partners Wealth increased its position in Dover by 10.2% during the fourth quarter. Focus Partners Wealth now owns 6,792 shares of the industrial products company's stock worth $1,415,000 after purchasing an additional 629 shares during the last quarter. Janus Henderson Group PLC increased its position in Dover by 46.5% during the fourth quarter. Janus Henderson Group PLC now owns 28,075 shares of the industrial products company's stock worth $5,270,000 after purchasing an additional 8,905 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Dover by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,701 shares of the industrial products company's stock worth $2,570,000 after purchasing an additional 533 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of Dover by 30.3% during the fourth quarter. Quantinno Capital Management LP now owns 16,499 shares of the industrial products company's stock valued at $3,095,000 after acquiring an additional 3,841 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Price Performance

NYSE:DOV traded down $1.54 during trading hours on Monday, reaching $171.26. 1,492,689 shares of the company were exchanged, compared to its average volume of 822,115. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. The stock's 50-day moving average is $179.67 and its 200-day moving average is $177.54. The firm has a market cap of $23.48 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 1.38 and a beta of 1.27. Dover has a twelve month low of $143.04 and a twelve month high of $222.31.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share 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 analysts' expectations of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.19%. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, sell-side analysts anticipate that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 29th. This is an increase from Dover's previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a yield of 1.2%. Dover's dividend payout ratio (DPR) is 12.55%.

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.