Dover Corporation (NYSE:DOV) Receives $239.85 Consensus Target Price from Brokerages

Shares of Dover Corporation (NYSE:DOV) have earned a consensus rating of “Moderate Buy” from the fourteen analysts that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $239.8462.

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $229.00 target price on shares of Dover in a report on Friday, April 24th. Morgan Stanley lifted their price target on shares of Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. BMO Capital Markets lifted their price target on shares of Dover from $237.00 to $250.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Wall Street Zen raised shares of Dover from a “hold” rating to a “buy” rating in a report on Sunday, June 7th. Finally, Wells Fargo & Company raised shares of Dover from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $210.00 to $230.00 in a report on Tuesday, March 17th.

Dover Price Performance

NYSE:DOV opened at $223.97 on Wednesday. Dover has a 52 week low of $158.97 and a 52 week high of $237.54. The firm has a market cap of $30.16 billion, a price-to-earnings ratio of 27.93, a P/E/G ratio of 1.75 and a beta of 1.17. The firm’s 50-day simple moving average is $217.79 and its 200 day simple moving average is $212.54. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.32 and a current ratio of 1.87.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.01. Dover had a net margin of 13.30% and a return on equity of 18.01%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period last year, the firm earned $2.05 earnings per share. Dover’s revenue for the quarter was up 10.1% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. As a group, sell-side analysts predict that Dover will post 10.65 earnings per share for the current year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.08 annualized dividend and a dividend yield of 0.9%. Dover’s payout ratio is 25.94%.

Institutional Investors Weigh In On Dover

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sapient Capital LLC acquired a new stake in Dover during the 1st quarter worth approximately $537,000. Western Wealth Management LLC acquired a new position in shares of Dover in the 1st quarter worth approximately $166,000. Parallel Advisors LLC lifted its position in shares of Dover by 5.7% in the 1st quarter. Parallel Advisors LLC now owns 2,979 shares of the industrial products company’s stock worth $621,000 after purchasing an additional 161 shares during the period. Glenmede Trust Co. NA lifted its position in shares of Dover by 23.4% in the 1st quarter. Glenmede Trust Co. NA now owns 17,306 shares of the industrial products company’s stock worth $3,607,000 after purchasing an additional 3,277 shares during the period. Finally, Edgestream Partners L.P. lifted its position in shares of Dover by 44.9% in the 1st quarter. Edgestream Partners L.P. now owns 14,189 shares of the industrial products company’s stock worth $2,958,000 after purchasing an additional 4,399 shares during the period. 84.46% of the stock is owned by institutional investors.

About Dover

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.