Recent Investment Analysts’ Ratings Updates for Dover (DOV)

A number of firms have modified their ratings and price targets on shares of Dover (NYSE: DOV) recently:

  • 4/22/2022 – Dover had its price target lowered by analysts at Royal Bank of Canada from $170.00 to $162.00. They now have a “sector perform” rating on the stock.
  • 4/22/2022 – Dover had its price target lowered by analysts at Morgan Stanley from $177.00 to $161.00. They now have an “equal weight” rating on the stock.
  • 4/22/2022 – Dover had its price target lowered by analysts at Wells Fargo & Company from $161.00 to $159.00. They now have an “equal weight” rating on the stock.
  • 4/22/2022 – Dover had its price target lowered by analysts at Barclays PLC from $160.00 to $155.00. They now have an “equal weight” rating on the stock.
  • 4/21/2022 – Dover had its price target lowered by analysts at Robert W. Baird from $194.00 to $169.00.
  • 4/14/2022 – Dover had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $187.00 to $182.00. They now have a “hold” rating on the stock.
  • 4/8/2022 – Dover was downgraded by analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating. They now have a $160.00 price target on the stock, down previously from $190.00.
  • 4/7/2022 – Dover had its price target lowered by analysts at Morgan Stanley from $196.00 to $177.00. They now have an “equal weight” rating on the stock.
  • 4/4/2022 – Dover had its price target lowered by analysts at Barclays PLC from $206.00 to $190.00. They now have an “overweight” rating on the stock.
  • 3/31/2022 – Dover is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.
  • 3/16/2022 – Dover was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. They now have a $160.00 price target on the stock. According to Zacks, “Dover’s earnings estimates for the current year have undergone upward revisions lately. It expects to deliver margin expansion and earnings per share growth in 2022 on productivity and cost initiatives. The company anticipates adjusted earnings per share (EPS) between $8.45 and $8.65 for 2022. TIt is poised to benefit from the strong end-market demand, bookings rates and robust backlog in the current year. Strong growth in pumps and process solutions, food retail, marking & coding and automotive aftermarket businesses is aiding the company. Dover will gain from product digitization, e-commerce, new product development, buyouts, inorganic investment in core business platforms as well as cost-reductions. However, input cost inflation, Omicron variant-led absenteeism, supply chain challenges and labor constraints will continue to hurt margin.”

Shares of NYSE:DOV opened at $143.00 on Monday. The company has a market cap of $20.60 billion, a P/E ratio of 18.62, a P/E/G ratio of 1.20 and a beta of 1.40. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.72. Dover Co. has a 52 week low of $138.50 and a 52 week high of $184.04. The business has a fifty day simple moving average of $154.52 and a 200-day simple moving average of $165.44.

Dover (NYSE:DOVGet Rating) last announced its quarterly earnings data on Thursday, April 21st. The industrial products company reported $1.90 EPS for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.07. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Dover had a return on equity of 28.52% and a net margin of 13.81%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.81 earnings per share. Sell-side analysts expect that Dover Co. will post 8.58 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 15th. Shareholders of record on Monday, February 28th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Friday, February 25th. Dover’s dividend payout ratio (DPR) is presently 26.04%.

In other Dover news, CEO Richard J. Tobin sold 31,515 shares of the business’s stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $156.91, for a total transaction of $4,945,018.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Anthony K. Kosinski sold 3,287 shares of the business’s stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $153.43, for a total value of $504,324.41. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. UMB Bank N A MO boosted its position in shares of Dover by 0.3% in the first quarter. UMB Bank N A MO now owns 29,967 shares of the industrial products company’s stock worth $4,702,000 after buying an additional 75 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Dover by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 9,100 shares of the industrial products company’s stock worth $1,415,000 after buying an additional 100 shares during the period. Empirical Finance LLC boosted its position in shares of Dover by 11.9% in the first quarter. Empirical Finance LLC now owns 2,773 shares of the industrial products company’s stock worth $435,000 after buying an additional 295 shares during the period. Empowered Funds LLC purchased a new stake in shares of Dover in the first quarter worth about $1,668,000. Finally, Inspire Investing LLC purchased a new stake in shares of Dover in the first quarter worth about $2,890,000. 82.30% of the stock is owned by institutional investors.

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides various equipment, component, software, solution, and services that are used in aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.

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