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

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.

Dover Corporation (NYSE:DOV - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twelve analysts that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and seven 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 $213.9167.

A number of research analysts have issued reports on the stock. Mizuho raised their price target on shares of Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. JPMorgan Chase & Co. raised their target price on Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Wells Fargo & Company boosted their price target on Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Robert W. Baird raised their price objective on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada upped their target price on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. North Capital Inc. acquired a new stake in shares of Dover during the 1st quarter worth approximately $29,000. AdvisorShares Investments LLC acquired a new stake in Dover during the second quarter valued at $30,000. N.E.W. Advisory Services LLC purchased a new position in Dover in the first quarter valued at $31,000. Vermillion & White Wealth Management Group LLC raised its position in shares of Dover by 122.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company's stock worth $31,000 after acquiring an additional 93 shares during the period. Finally, Harbour Investments Inc. boosted its stake in shares of Dover by 51.7% during the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company's stock worth $32,000 after acquiring an additional 60 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Trading Down 2.8%

Shares of NYSE:DOV opened at $173.15 on Monday. The business's 50-day moving average is $181.34 and its 200 day moving average is $178.03. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. Dover has a 1 year low of $143.04 and a 1 year high of $222.31. The firm has a market capitalization of $23.74 billion, a P/E ratio of 10.44, a P/E/G ratio of 1.38 and a beta of 1.27.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%.The company's revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, research analysts predict that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.08 annualized dividend and a yield of 1.2%. This is an increase from Dover's previous quarterly dividend of $0.52. Dover's payout ratio is 12.55%.

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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