Dover (NYSE:DOV) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Dover (NYSE:DOV) had its price objective boosted by analysts at JPMorgan Chase & Co. from $220.00 to $230.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 11.01% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Wells Fargo & Company upped their target price on shares of Dover from $200.00 to $205.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $199.00 price target on shares of Dover in a research report on Thursday. Barclays upped their price objective on Dover from $195.00 to $205.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. Finally, Morgan Stanley boosted their target price on Dover from $185.00 to $195.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.09.

Dover Price Performance

Shares of NYSE:DOV traded up $1.34 during midday trading on Friday, reaching $207.20. 114,550 shares of the company were exchanged, compared to its average volume of 991,244. The stock has a market cap of $28.42 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 1.42 and a beta of 1.31. The business’s fifty day moving average is $192.79 and its two-hundred day moving average is $182.59. Dover has a one year low of $143.04 and a one year high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, October 23rd. The industrial products company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.50 by $0.12. Dover had a net margin of 28.37% and a return on equity of 17.62%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the firm earned $2.27 EPS. The business’s revenue was up 4.7% on a year-over-year basis. Dover has set its FY 2025 guidance at 9.500-9.600 EPS. As a group, analysts predict that Dover will post 9.45 earnings per share for the current year.

Insiders Place Their Bets

In other Dover news, CFO Christopher B. Woenker sold 1,627 shares of the company’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $186.04, for a total value of $302,687.08. Following the transaction, the chief financial officer directly owned 2,553 shares in the company, valued at $474,960.12. This represents a 38.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ivonne M. Cabrera sold 2,630 shares of Dover stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total transaction of $501,804.00. Following the sale, the senior vice president directly owned 72,968 shares of the company’s stock, valued at $13,922,294.40. This represents 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 insiders.

Institutional Investors Weigh In On Dover

Institutional investors and hedge funds have recently bought and sold shares of the company. Frank Rimerman Advisors LLC lifted its holdings in shares of Dover by 2.2% in the 4th quarter. Frank Rimerman Advisors LLC now owns 2,439 shares of the industrial products company’s stock worth $476,000 after buying an additional 52 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Dover by 1.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 61,118 shares of the industrial products company’s stock valued at $11,933,000 after acquiring an additional 930 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Dover by 3.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 18,992 shares of the industrial products company’s stock worth $3,718,000 after acquiring an additional 646 shares during the period. Brookstone Capital Management grew its holdings in Dover by 1.8% during the 4th quarter. Brookstone Capital Management now owns 4,277 shares of the industrial products company’s stock worth $835,000 after acquiring an additional 76 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its position in Dover by 3.4% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 52,837 shares of the industrial products company’s stock valued at $10,316,000 after purchasing an additional 1,737 shares during the period. 84.46% of the stock is owned by institutional investors.

Dover Company Profile

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.