Dover (NYSE:DOV) Stock Gets Price Target Trim from Royal Bank Of Canada

Dover (NYSE:DOV) had its target price reduced by Royal Bank Of Canada from $227.00 to $216.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a sector perform rating on the industrial products company’s stock.

Several other research analysts have also recently issued reports on DOV. Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. BMO Capital Markets raised shares of Dover from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $255.00 to $240.00 in a research note on Friday, July 24th. Robert W. Baird set a $270.00 price target on shares of Dover in a report on Friday, July 24th. Wolfe Research reiterated an “outperform” rating and set a $262.00 price target on shares of Dover in a report on Thursday, July 9th. Finally, Wells Fargo & Company began coverage on shares of Dover in a research report on Thursday, September 24th. They set an “overweight” rating and a $229.00 price target for the company. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $237.93.

Dover Trading Up 0.9%

Shares of DOV stock opened at $195.80 on Wednesday. The stock has a market capitalization of $26.37 billion, a PE ratio of 23.59, a P/E/G ratio of 1.70 and a beta of 1.13. Dover has a 1-year low of $164.73 and a 1-year high of $237.54. The business has a 50-day moving average of $194.46 and a 200 day moving average of $207.85. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.98 and a quick ratio of 1.41.

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

Dover Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DOV. Reflection Asset Management purchased a new stake in shares of Dover in the 4th quarter worth about $26,000. Clearstead Trust LLC bought a new stake in Dover in the 2nd quarter worth about $30,000. MV Capital Management Inc. purchased a new position in Dover in the 4th quarter worth about $29,000. Keating Financial Advisory Services Inc. purchased a new position in Dover in the 2nd quarter worth about $34,000. Finally, Financial Life Planners bought a new position in Dover during the 1st quarter valued at about $31,000. 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.