Dover (NYSE:DOV) Price Target Cut to $180.00 by Analysts at Wells Fargo & Company

Dover (NYSE:DOV) had its target price reduced by analysts at Wells Fargo & Company from $195.00 to $180.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 7.99% from the company’s previous close.

DOV has been the topic of several other reports. Royal Bank Of Canada raised their target price on Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Citigroup reiterated a “buy” rating and set a $226.00 price target (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. Barclays dropped their target price on shares of Dover from $193.00 to $190.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 1st. JPMorgan Chase & Co. increased their target price on Dover from $211.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Finally, Robert W. Baird increased their price target on shares of Dover from $219.00 to $234.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and an average price target of $212.42.

Dover Trading Down 0.0%

Shares of NYSE DOV opened at $166.69 on Monday. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $22.86 billion, a PE ratio of 10.08, a PEG ratio of 1.33 and a beta of 1.26. The business has a 50-day moving average price of $175.46 and a two-hundred day moving average price of $176.42. Dover has a one year low of $143.04 and a one year high of $222.31.

Dover (NYSE:DOV) last issued its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share 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 analyst estimates of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%.The business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.36 EPS. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, analysts predict that Dover will post 9.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dover

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Dover by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company’s stock valued at $3,036,722,000 after buying an additional 231,146 shares during the period. State Street Corp boosted its position in shares of Dover by 2.7% during the second quarter. State Street Corp now owns 6,447,149 shares of the industrial products company’s stock worth $1,181,311,000 after buying an additional 171,934 shares during the period. Geode Capital Management LLC grew its holdings in shares of Dover by 1.0% during the second quarter. Geode Capital Management LLC now owns 3,453,121 shares of the industrial products company’s stock worth $629,996,000 after buying an additional 33,539 shares in the last quarter. Nuveen LLC bought a new stake in Dover in the 1st quarter valued at approximately $526,081,000. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of Dover by 10.6% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,376,279 shares of the industrial products company’s stock worth $435,406,000 after acquiring an additional 227,653 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

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.