Barclays Increases Dover (NYSE:DOV) Price Target to $205.00

Dover (NYSE:DOV) had its price objective boosted by investment analysts at Barclays from $195.00 to $205.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price objective would indicate a potential upside of 1.53% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company increased their price target on Dover from $200.00 to $205.00 and gave the company an “equal weight” rating in a research note on Wednesday. Wall Street Zen downgraded shares of Dover from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Morgan Stanley boosted their price target on shares of Dover from $185.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dover in a research note on Monday, December 29th. Finally, Robert W. Baird set a $235.00 target price on shares of Dover in a research note on Friday, October 24th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.09.

Dover Trading Up 1.3%

DOV opened at $201.92 on Wednesday. The company’s 50 day moving average price is $190.32 and its two-hundred day moving average price is $181.79. The firm has a market capitalization of $27.69 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.39 and a beta of 1.31. Dover has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44.

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

Insider Activity

In related news, CFO Christopher B. Woenker sold 1,627 shares of the business’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $186.04, for a total value of $302,687.08. Following the completion of the sale, the chief financial officer directly owned 2,553 shares of the company’s stock, valued at $474,960.12. The trade was a 38.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $190.80, for a total value of $501,804.00. Following the completion of the transaction, the senior vice president owned 72,968 shares in the company, valued at approximately $13,922,294.40. The trade was a 3.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dover

Institutional investors have recently modified their holdings of the company. Machina Capital S.A.S. increased its holdings in shares of Dover by 38.8% in the second quarter. Machina Capital S.A.S. now owns 8,779 shares of the industrial products company’s stock worth $1,609,000 after buying an additional 2,452 shares during the period. Nordea Investment Management AB boosted its holdings in Dover by 9.3% during the 2nd quarter. Nordea Investment Management AB now owns 124,031 shares of the industrial products company’s stock valued at $22,701,000 after acquiring an additional 10,581 shares during the period. Acadian Asset Management LLC grew its position in Dover by 1,034.4% during the 1st quarter. Acadian Asset Management LLC now owns 34,237 shares of the industrial products company’s stock worth $6,012,000 after acquiring an additional 31,219 shares during the last quarter. Advisory Resource Group increased its stake in Dover by 7.7% in the 2nd quarter. Advisory Resource Group now owns 28,732 shares of the industrial products company’s stock worth $5,264,000 after purchasing an additional 2,047 shares during the period. Finally, Generali Asset Management SPA SGR lifted its position in Dover by 103.4% in the third quarter. Generali Asset Management SPA SGR now owns 16,020 shares of the industrial products company’s stock valued at $2,673,000 after purchasing an additional 8,145 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

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.