Dover (NYSE:DOV) Shares Gap Down – What’s Next?

Dover Corporation (NYSE:DOV) shares gapped down prior to trading on Thursday . The stock had previously closed at $214.53, but opened at $201.46. Dover shares last traded at $197.0540, with a volume of 470,043 shares changing hands.

Analyst Ratings Changes

DOV has been the topic of several research reports. Morgan Stanley upped their target price on Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a research report on Thursday, June 4th. Wolfe Research restated an “outperform” rating and issued a $262.00 price target on shares of Dover in a research note on Thursday, July 9th. Citigroup reaffirmed a “buy” rating on shares of Dover in a report on Friday, April 24th. Oppenheimer increased their price objective on Dover from $242.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $229.00 target price on shares of Dover in a report on Friday, April 24th. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $241.43.

Dover Trading Down 7.7%

The company has a debt-to-equity ratio of 0.35, a current ratio of 1.87 and a quick ratio of 1.32. The company has a market capitalization of $26.65 billion, a price-to-earnings ratio of 24.70, a P/E/G ratio of 1.61 and a beta of 1.16. The business’s 50-day moving average price is $215.99 and its two-hundred day moving average price is $215.49.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.02. Dover had a return on equity of 18.01% and a net margin of 13.30%.The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the prior year, the business posted $2.44 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Research analysts predict that Dover Corporation will post 10.65 earnings per share for the current year.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, May 29th. Dover’s dividend payout ratio is 25.94%.

Institutional Investors Weigh In On Dover

Several institutional investors and hedge funds have recently bought and sold shares of DOV. Brighton Jones LLC increased its stake in shares of Dover by 62.1% in the 4th quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock valued at $552,000 after purchasing an additional 1,128 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Dover by 4.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,377 shares of the industrial products company’s stock valued at $2,526,000 after acquiring an additional 676 shares during the last quarter. Empowered Funds LLC lifted its holdings in Dover by 11.8% during the 1st quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company’s stock worth $2,636,000 after buying an additional 1,580 shares during the period. Sivia Capital Partners LLC bought a new stake in Dover in the second quarter valued at approximately $488,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Dover in the second quarter valued at approximately $1,030,000. Institutional investors own 84.46% of the company’s stock.

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.