Dover (NYSE:DOV) Price Target Raised to $205.00

Dover (NYSE:DOV) had its target price upped by Barclays from $195.00 to $205.00 in a report released on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the industrial products company’s stock.

DOV has been the subject of several other research reports. Morgan Stanley increased their price target on shares of Dover from $185.00 to $195.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. Oppenheimer increased their target price on shares of Dover from $225.00 to $228.00 and gave the company an “outperform” rating in a research report on Friday, November 14th. JPMorgan Chase & Co. lifted their price target on shares of Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. UBS Group set a $256.00 price objective on Dover and gave the company a “buy” rating in a research note on Sunday, January 4th. Finally, Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $217.09.

Dover Stock Performance

Shares of DOV opened at $201.68 on Wednesday. The stock has a 50 day moving average of $190.72 and a 200 day moving average of $181.96. The company has a market capitalization of $27.66 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.41 and a beta of 1.31. Dover has a 12 month low of $143.04 and a 12 month high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%.The firm had revenue of $1.78 billion during the quarter. Dover has set its FY 2025 guidance at 9.500-9.600 EPS. As a group, sell-side analysts forecast that Dover will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, November 28th. Dover’s payout ratio is presently 12.79%.

Insider Activity

In other Dover news, SVP Ivonne M. Cabrera sold 2,630 shares of Dover stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $190.80, for a total transaction of $501,804.00. Following the completion of the transaction, the senior vice president owned 72,968 shares of the company’s stock, valued at $13,922,294.40. The trade was a 3.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Christopher B. Woenker sold 1,627 shares of the stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $186.04, for a total transaction of $302,687.08. Following the completion of the sale, the chief financial officer directly owned 2,553 shares in the company, valued at approximately $474,960.12. The trade was a 38.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DOV. Financial Life Planners bought a new stake in Dover during the third quarter valued at $25,000. AdvisorShares Investments LLC bought a new stake in shares of Dover during the 2nd quarter valued at about $30,000. Tompkins Financial Corp grew its holdings in shares of Dover by 102.7% during the fourth quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 77 shares in the last quarter. Vermillion & White Wealth Management Group LLC increased 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 purchasing an additional 93 shares during the last quarter. Finally, Caldwell Trust Co purchased a new stake in Dover in the second quarter valued at approximately $31,000. 84.46% of the stock is currently owned by hedge funds and other 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.