Wells Fargo & Company Cuts Dover (NYSE:DOV) Price Target to $180.00

Key Points

• Wells Fargo & Company has reduced its price target for Dover (NYSE:DOV) from $195.00 to $180.00, maintaining an "equal weight" rating on the stock.
• Dover's average target price now stands at $212.42, with eight analysts rating it as a "Buy" and five as a "Hold."
• The company recently reported earnings of $2.44 per share, exceeding expectations and showing a year-over-year revenue growth of 5.2%.

Dover (NYSE:DOV - Get Free Report) had its price objective cut by investment analysts at Wells Fargo & Company from $195.00 to $180.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the industrial products company's stock. Wells Fargo & Company's target price points to a potential upside of 7.99% from the company's previous close.

DOV has been the subject of a number of other research reports. Barclays dropped their price objective on shares of Dover from $193.00 to $190.00 and set an "equal weight" rating for the company in a report on Wednesday, October 1st. Weiss Ratings restated a "buy (b-)" rating on shares of Dover in a report on Saturday, September 27th. Robert W. Baird lifted their price objective on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Royal Bank Of Canada upped their target price on shares of Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $212.42.

Dover Price Performance

Shares of Dover stock opened at $166.69 on Monday. The firm has a market cap of $22.86 billion, a PE ratio of 10.08, a P/E/G ratio of 1.33 and a beta of 1.26. The business has a 50-day moving average price of $175.46 and a 200 day moving average price of $176.42. Dover has a twelve month low of $143.04 and a twelve month 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 announced its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (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 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 quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.36 EPS. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Sell-side analysts predict that Dover will post 9.45 earnings per share for the current fiscal year.

Institutional Trading of Dover

Several large investors have recently modified their holdings of the business. North Capital Inc. acquired a new position in shares of Dover during the first quarter worth approximately $29,000. AdvisorShares Investments LLC bought a new position in shares of Dover in the second quarter valued at $30,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Dover during the 1st quarter valued at $31,000. Vermillion & White Wealth Management Group LLC grew its holdings in shares of Dover by 122.4% in the 2nd 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 last quarter. Finally, Caldwell Trust Co acquired a new stake in shares of Dover during the second quarter worth $31,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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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