Dover (NYSE:DOV) Upgraded to “Strong-Buy” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Dover (NYSE:DOV) to a strong-buy rating in a research report released on Thursday morning,Zacks reports.

Other equities research analysts also recently issued reports about the company. Royal Bank Of Canada dropped their target price on Dover from $252.00 to $227.00 and set a “sector perform” rating on the stock in a report on Friday, July 24th. Robert W. Baird set a $270.00 price target on Dover in a report on Friday, July 24th. Wolfe Research reaffirmed an “outperform” rating and issued a $262.00 price target on shares of Dover in a research report on Thursday, July 9th. BMO Capital Markets upgraded shares of Dover from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $255.00 to $240.00 in a research note on Friday, July 24th. Finally, Morgan Stanley increased their price objective on shares of Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dover has an average rating of “Moderate Buy” and an average price target of $238.21.

Dover Price Performance

DOV stock opened at $191.81 on Thursday. The firm has a 50 day moving average price of $199.24 and a 200-day moving average price of $209.89. Dover has a 52-week low of $158.97 and a 52-week high of $237.54. The firm has a market capitalization of $25.83 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 1.43 and a beta of 1.15. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.41 and a current ratio of 1.98.

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

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were paid a $0.5250 dividend. This is an increase from Dover’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, August 31st. Dover’s dividend payout ratio (DPR) is presently 25.30%.

Institutional Investors Weigh In On Dover

Several institutional investors have recently modified their holdings of DOV. QRG Capital Management Inc. lifted its stake in Dover by 81.8% during the 2nd quarter. QRG Capital Management Inc. now owns 132,164 shares of the industrial products company’s stock valued at $29,642,000 after acquiring an additional 59,455 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in shares of Dover by 99.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 14,701 shares of the industrial products company’s stock worth $3,297,000 after acquiring an additional 7,322 shares during the period. Andra AP fonden grew its stake in shares of Dover by 58.9% in the second quarter. Andra AP fonden now owns 25,089 shares of the industrial products company’s stock worth $5,627,000 after acquiring an additional 9,300 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of Dover by 20.4% during the second quarter. Sequoia Financial Advisors LLC now owns 6,492 shares of the industrial products company’s stock valued at $1,456,000 after purchasing an additional 1,099 shares during the last quarter. Finally, Tidal Investments LLC lifted its position in Dover by 8.0% during the second quarter. Tidal Investments LLC now owns 19,463 shares of the industrial products company’s stock valued at $4,365,000 after purchasing an additional 1,438 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

About Dover

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

The company’s products and solutions include pumps, compressors, fluid-handling equipment, fueling and vehicle-service systems, refrigeration and heat-transfer technologies, industrial winches, digital printing and coding equipment, and systems used in textile and product identification applications.