An Analysis of Dover Corporation (DOV)’s Potential Price Growth

ZOM Stock
ZOM Stock

Dover Corporation’s recent filing unveils that its Vice President, Tax Kosinski Anthony K unloaded Company’s shares for reported $0.28 million on Oct 24. In the deal valued at $126.18 per share,2,203 shares were sold. As a result of this transaction, Kosinski Anthony K now holds 5,353 shares worth roughly $ 0.8 million.

From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio

The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.

Get our free report, "Top 5 AI Stocks to Buy for 2023".


Then, Malinas David J. bought 350 shares, generating $48,804 in total proceeds. Upon buying the shares at $139.44, the SVP, Operations now owns 2,744 shares.

Before that, Kosinski Anthony K sold 3,287 shares. Dover Corporation shares valued at $504,338 were divested by the Vice President, Tax at a price of $153.43 per share. As a result of the transaction, Kosinski Anthony K now holds 3,051 shares, worth roughly $0.46 million.

Credit Suisse initiated its Dover Corporation [DOV] rating to an Outperform in a research note published on Tuesday, December 13, 2022; the price target was $171. PT values the company’s stock at a premium of 12.34 to its Tuesday closing price. A number of analysts have revised their coverage, including Barclays’s analysts, who decreased its forecast for the stock in early April from “an Overweight” to “an Equal weight”. Oppenheimer also remained covering DOV and has increased its forecast on January 07, 2022 with a “an Outperform” recommendation from previously “Perform” rating. Wells Fargo revised its rating on December 20, 2021. It rated DOV as “an Equal weight” which previously was an “an Underweight”.

Price Performance Review of DOV

On Tuesday, Dover Corporation [NYSE:DOV] saw its stock fall -0.07% to $149.90. On the same session, the stock had its day’s lowest price of $149.71, but rose to a high of $151.315. Over the last five days, the stock has gained 0.92%. Dover Corporation shares have risen nearly 10.70% since the year began. Nevertheless, the stocks have fallen -5.74% over the past one year. While a 52-week high of $162.88 was reached on 02/02/23, a 52-week low of $114.49 was recorded on 01/03/23. SMA at 50 days reached $144.45, while 200 days put it at $133.20. A total of 1.07 million shares were traded, compared to the trading of 0.71 million shares in the previous session.

Levels Of Support And Resistance For DOV Stock

The 24-hour chart illustrates a support level at 149.30, which if violated will result in even more drops to 148.70. On the upside, there is a resistance level at 150.91. A further resistance level may holdings at 151.91. The Relative Strength Index (RSI) on the 14-day chart is 50.39, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.94, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 66.03%. Stochastics %K at 28.41% indicates the stock is a holding.

How much short interest is there in Dover Corporation?

A steep rise in short interest was recorded in Dover Corporation stocks on Jan 30, 2023, dropping by -0.3 million shares to a total of 1.8 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 2.1 million shares. There was a decline of -16.67%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.46% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.1.

Dover Corporation [DOV] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 16,090,165 shares, or roughly 11.46% of the outstanding DOV shares. In other words, the investor’s shares have fallen by -323,991 from its previous 13-F filing of 16414156.0. Additionally, JPMorgan Investment Management, I decreased -3.71% of its stake after which the total value it holdings stand at $1,589,284,017, while SSgA Funds Management, Inc. added 0.29% of its stake to hold $1.05 billion in the firm. Over the last quarter, BlackRock Fund Advisors purchased 22,385 shares of Dover Corporation, while Boston Partners Global Investors, bought 6,843 shares. At present, Franklin Advisers, Inc. is holding 3,197,738 shares valued at $485.51 million. Macquarie Investment Management B owned 2,860,647 shares of the company at the time of its most recent 13F filing, worth $434.33 million.

According to FactSet, Dover Corporation’s share price will average $161.93 in the next year, based on opinions of analysts polled by the firm. This is up nearly 10.0 percent from its previous closing price of $150.00. Analysts expect Dover Corporation stock to reach the higher price of $185.00, while the lowest price estimate is $141.00. However, 21 analysts have rated DOV stock as an Overweight in their predictions for 2023. The most recent change occurred on December 17, 2021 when Mizuho began covering the stock and recommended ‘”a Buy”‘ rating along with a $195 price target.


Please enter your comment!
Please enter your name here