Dover (NYSE:DOV) Stock Gets Price Target Reduction from Mizuho

Dover (NYSE:DOV) had its target price cut by Mizuho from $270.00 to $245.00 in a research note released on Thursday morning, MarketBeat.com reports. They currently have an outperform rating on the industrial products company’s stock.

Several other brokerages also recently weighed in on DOV. Wells Fargo & Company began coverage on Dover in a report on Thursday, September 24th. They set an “overweight” rating and a $229.00 price target on the stock. Weiss Ratings cut Dover from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 2nd. Robert W. Baird set a $270.00 price objective on Dover in a research note on Friday, July 24th. Royal Bank Of Canada lowered their price objective on Dover from $227.00 to $216.00 and set a “sector perform” rating for the company in a research report on Wednesday. Finally, BMO Capital Markets upgraded shares of Dover from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $255.00 to $240.00 in a research note on Friday, July 24th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $237.93.

Dover Stock Performance

Shares of Dover stock opened at $195.80 on Thursday. The firm has a market cap of $26.37 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 1.71 and a beta of 1.13. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 0.33. Dover has a 52 week low of $164.73 and a 52 week high of $237.54. The business’s fifty day simple moving average is $194.46 and its 200-day simple moving average is $207.85.

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

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were issued a $0.5250 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Monday, August 31st. This is an increase from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio (DPR) is currently 25.30%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. True North Advisors LLC raised its holdings in shares of Dover by 2.9% during the 1st quarter. True North Advisors LLC now owns 1,610 shares of the industrial products company’s stock valued at $336,000 after purchasing an additional 45 shares in the last quarter. Nilsine Partners LLC lifted its stake in shares of Dover by 2.7% in the 2nd quarter. Nilsine Partners LLC now owns 1,967 shares of the industrial products company’s stock valued at $441,000 after purchasing an additional 52 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in Dover by 1.3% in the first quarter. Nations Financial Group Inc. IA ADV now owns 4,678 shares of the industrial products company’s stock worth $975,000 after purchasing an additional 58 shares in the last quarter. Root Financial Partners LLC boosted its holdings in Dover by 22.4% in the first quarter. Root Financial Partners LLC now owns 350 shares of the industrial products company’s stock worth $73,000 after purchasing an additional 64 shares in the last quarter. Finally, Patten Group Inc. increased its position in Dover by 1.4% during the first quarter. Patten Group Inc. now owns 5,070 shares of the industrial products company’s stock worth $1,057,000 after buying an additional 70 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Company Profile

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

The company’s products include pumps, compressors, fluid-handling equipment, fueling and dispensing systems, refrigeration and heat-transfer technologies, printing and marking equipment, and engineered components.