Dover Corporation (DOV) Monthly Stock Report
Publication Date: September 22, 2024
Company Overview
Dover Corporation (DOV), based in Downers Grove, Illinois, stands as a notable leader in the industrials sector, particularly within the specialty industrial machinery industry. Founded in 1947, the company has established a wide-ranging portfolio that includes equipment, components, consumables, and digital solutions tailored to key sectors such as aerospace, defense, waste handling, and consumer goods. Dover operates through several segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions, and Climate & Sustainability Technologies. With a focus on enhancing operational efficiency and safety, the company remains committed to advancing industrial technologies and promoting sustainability. A publicly traded entity since 1985, Dover reported impressive total revenues of approximately $8.53 billion, underscoring its significant presence and demand in the industrial marketplace.
Market Position and Financial Performance
In the specialty industrial machinery sector, Dover Corporation reflects strong financial health and a promising outlook for growth. Analysts have set a high target price of $219.00 per share, indicating considerable upside potential. This projection is supported by the current trading price of $189.12, which is well-positioned relative to its 52-week range, having reached a recent peak of $192.31 and a low of $127.25. Additionally, with 137,458,000 shares outstanding—of which only 2.58% are shorted—investor confidence appears firm, as indicated by a low level of short selling activity. The company’s moving average price of $181.80 further substantiates the positive trajectory in its trading performance. With a buy recommendation backed by an average score of 2.2 from 13 analysts, investors looking to capitalize on growth opportunities in the industrials market should consider adding Dover Corporation to their portfolios.
Analyst Insights and Recommendations
Dover Corporation’s stock demonstrates a healthy investment potential highlighted by analyst targets. The calculated mean target price stands at $202.06, with a median target at $200.00, reflecting a strong consensus for upward price movement. This optimistic outlook is mirrored in the recent momentum of its stock performance. As the company continues to deliver robust financial results, the favorable market conditions position it as an attractive opportunity for investors looking for growth in the specialty industrial machinery space. With a strategy focused on innovation and sustainability, Dover Corporation is well-placed to leverage its strengths and continue its trajectory toward further profitability.
| Metric | Value |
|---|---|
| Market Cap | $26.0b |
| Total Debt | $3.2b |
| Total Cash | $328.8m |
| Shares Outstanding | 137.5m |
| Float Shares | 136.8m |
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