Wells Fargo & Company Upgrades Dover (NYSE:DOV) to Strong-Buy

Dover (NYSE:DOV) was upgraded by investment analysts at Wells Fargo & Company to a “strong-buy” rating in a note issued to investors on Thursday, Zacks reports.

A number of other equities analysts have also weighed in on the stock. Wolfe Research reiterated an “outperform” rating and issued a $262.00 price target on shares of Dover in a research report on Thursday, July 9th. Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings downgraded shares of Dover from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, September 2nd. Morgan Stanley increased their price target on Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada decreased their price target on Dover from $252.00 to $227.00 and set a “sector perform” rating on the stock in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $238.21.

Dover Stock Up 2.1%

NYSE DOV opened at $191.81 on Thursday. Dover has a 52 week low of $158.97 and a 52 week high of $237.54. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $25.83 billion, a P/E ratio of 23.11, a price-to-earnings-growth ratio of 1.43 and a beta of 1.15. The stock’s 50-day moving average price is $199.24 and its 200-day moving average price is $209.89.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.02. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. Dover had a return on equity of 18.32% and a net margin of 13.48%.The firm’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, equities research analysts predict that Dover will post 10.67 earnings per share for the current year.

Institutional Investors Weigh In On Dover

Several large investors have recently made changes to their positions in the company. Callan Family Office LLC bought a new position in shares of Dover during the 2nd quarter valued at approximately $702,000. Northwestern Mutual Wealth Management Co. increased its position in Dover by 3.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 219,445 shares of the industrial products company’s stock worth $42,845,000 after purchasing an additional 7,396 shares during the last quarter. Independent Financial Group LLC purchased a new stake in Dover during the first quarter valued at $1,367,000. Squarepoint Ops LLC raised its stake in Dover by 1,356.0% during the second quarter. Squarepoint Ops LLC now owns 25,989 shares of the industrial products company’s stock valued at $5,829,000 after purchasing an additional 24,204 shares in the last quarter. Finally, E. Ohman J or Asset Management AB lifted its position in Dover by 3,177.2% during the second quarter. E. Ohman J or Asset Management AB now owns 146,949 shares of the industrial products company’s stock valued at $32,958,000 after purchasing an additional 142,465 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

Dover Company Profile

Dover Corporation is a diversified global manufacturer that designs and produces specialized equipment, components and systems for industrial and commercial customers. Its businesses serve markets including energy, transportation, food and beverage, refrigeration, manufacturing, printing and packaging.

The company’s products and solutions include pumps, compressors, fluid-handling equipment, fueling and vehicle-service systems, refrigeration and heat-transfer technologies, industrial winches, digital printing and coding equipment, and systems used in textile and product identification applications.