JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Dover (NYSE:DOV) Stock

Dover (NYSE:DOV) had its target price raised by stock analysts at JPMorgan Chase & Co. from $220.00 to $230.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 11.25% from the company’s previous close.

Several other analysts also recently commented on DOV. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dover in a report on Monday, December 29th. Wall Street Zen lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Oppenheimer lifted their target price on shares of Dover from $225.00 to $228.00 and gave the stock an “outperform” rating in a research report on Friday, November 14th. Wells Fargo & Company upped their target price on Dover from $200.00 to $205.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. Finally, BNP Paribas initiated coverage on Dover in a report on Thursday, December 4th. They set a “neutral” rating and a $195.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $218.09.

Dover Stock Performance

Shares of DOV opened at $206.75 on Friday. Dover has a 52 week low of $143.04 and a 52 week high of $222.31. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.44 and a current ratio of 2.04. The stock has a 50 day moving average price of $193.32 and a two-hundred day moving average price of $182.73. The firm has a market capitalization of $28.36 billion, a P/E ratio of 12.72, a P/E/G ratio of 1.44 and a beta of 1.31.

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

Insiders Place Their Bets

In other Dover news, CFO Christopher B. Woenker sold 1,627 shares of the business’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $186.04, for a total value of $302,687.08. Following the sale, the chief financial officer directly owned 2,553 shares in the company, valued at $474,960.12. The trade was a 38.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total value of $501,804.00. Following the transaction, the senior vice president directly owned 72,968 shares in the company, valued at $13,922,294.40. This represents a 3.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Dover

Several hedge funds and other institutional investors have recently modified their holdings of the business. Financial Life Planners bought a new position in Dover in the 3rd quarter worth approximately $25,000. AdvisorShares Investments LLC bought a new position in Dover in the 2nd quarter worth about $30,000. Tompkins Financial Corp grew its holdings in Dover by 102.7% during the 4th quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock valued at $30,000 after buying an additional 77 shares in the last quarter. Vermillion & White Wealth Management Group LLC increased its position in shares of Dover by 122.4% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock valued at $31,000 after buying an additional 93 shares during the period. Finally, Caldwell Trust Co purchased a new stake in shares of Dover in the second quarter worth about $31,000. Institutional investors own 84.46% of the company’s stock.

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.