Dover (NYSE:DOV) Price Target Cut to $216.00 by Analysts at Royal Bank Of Canada

Dover (NYSE:DOV) had its target price cut by research analysts at Royal Bank Of Canada from $227.00 to $216.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the industrial products company’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 12.38% from the company’s current price.

A number of other equities research analysts have also recently weighed in on DOV. Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Wells Fargo & Company initiated coverage on Dover in a report on Thursday, September 24th. They set an “overweight” rating and a $229.00 price target on the stock. Robert W. Baird set a $270.00 price objective on Dover in a research note on Friday, July 24th. BMO Capital Markets raised Dover from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $255.00 to $240.00 in a report on Friday, July 24th. Finally, Wolfe Research restated an “outperform” rating and set a $262.00 price objective on shares of Dover in a research report on Thursday, July 9th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and an average price target of $237.43.

Dover Trading Down 0.1%

Shares of NYSE:DOV opened at $192.20 on Wednesday. The company has a market cap of $25.89 billion, a PE ratio of 23.13, a P/E/G ratio of 1.67 and a beta of 1.13. The company’s 50 day moving average is $195.44 and its two-hundred day moving average is $208.14. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.33. Dover has a 52 week low of $161.27 and a 52 week high of $237.54.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.72 by $0.02. Dover had a net margin of 13.48% and a return on equity of 18.32%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same period in the prior year, the firm posted $2.44 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Equities analysts predict that Dover will post 10.67 earnings per share for the current fiscal year.

Institutional Trading of Dover

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Citizens Bank & Trust Co. boosted its holdings in shares of Dover by 1,677.3% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 35,049 shares of the industrial products company’s stock valued at $6,144,000 after purchasing an additional 33,077 shares during the last quarter. Krilogy Financial LLC raised its stake in shares of Dover by 38.4% in the 3rd quarter. Krilogy Financial LLC now owns 5,445 shares of the industrial products company’s stock valued at $1,008,000 after acquiring an additional 1,512 shares during the period. NorthCrest Asset Manangement LLC lifted its holdings in shares of Dover by 159.8% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 4,768 shares of the industrial products company’s stock valued at $855,000 after acquiring an additional 2,933 shares in the last quarter. Balefire LLC increased its holdings in Dover by 15.4% in the 3rd quarter. Balefire LLC now owns 2,732 shares of the industrial products company’s stock valued at $511,000 after purchasing an additional 364 shares in the last quarter. Finally, Wedmont Private Capital lifted its stake in shares of Dover by 222.9% during the third quarter. Wedmont Private Capital now owns 10,115 shares of the industrial products company’s stock worth $1,807,000 after purchasing an additional 6,982 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Company Profile

Dover Corporation is a diversified global manufacturer that develops and produces specialized equipment, components and engineered systems for industrial and commercial customers. Its businesses serve markets including industrial manufacturing, energy, transportation, food and beverage, refrigeration, and building services.

The company’s products include pumps, compressors, fluid-handling equipment, fueling and dispensing systems, refrigeration and heat-transfer technologies, printing and marking equipment, and engineered components.