Wells Fargo Raises Dover (DOV) Price Target to $233
Key Points
- Wells Fargo reiterated its Overweight rating on Dover Corporation on October 23, 2026, and raised its price target from $229.00 to $233.00.
- Wells Fargo's $233 price target implies 19.19% upside from Dover Corporation's ($DOV) current $195.49 share price.
- Dover Corporation recently traded around $195.49, sitting below its 50-day moving average of $193.84 and well under the new $233 price target.
- The industrial equipment maker posts a trailing twelve-month revenue of $8.58 billion with an earnings per share of $8.09.
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Wells Fargo reiterated its Overweight rating on Dover Corporation [DOV] on October 23, 2026, while raising its price target from $229.00 to $233.00. The research note provides a fresh look at the industrial manufacturer as its shares trade below the firm's newly adjusted target. Dover Corporation closed at $197.60 on October 23, 2026. Prior to this update, Wells Fargo had initiated coverage on the stock on September 25, 2026, with an Overweight rating and a $229.00 price target.
DOV
Dover Corporation
Wells Fargo vs. the S&P 500
Hypothetical returns from Wells Fargo's disclosed trades, not real profit or advice. How we model this.
Wells Fargo's Call on Dover Corporation
In its research note issued on October 23, 2026, Wells Fargo maintained its Overweight rating on Dover Corporation and bumped its price target up to $233.00 from $229.00. The adjustment follows earlier coverage from the firm in late September. Other Wall Street firms have also updated their outlooks on the stock recently. On October 23, 2026, RBC Capital maintained its Sector Perform rating and raised its target from $216.00 to $219.00. Earlier in October, Mizuho maintained an Outperform rating with a $245.00 target, while RBC Capital had maintained a Sector Perform rating with a $216.00 target.
Other Institutional Activity in Dover Corporation
Bank Of New York Mellon Corporation reduced its holdings by 394,934 shares, ending the period with 2,636,023 shares worth about $520,878,160.00.
Dover Corporation Stock Down 2.2%
Recent trading put Dover Corporation shares around $195.49 as of October 23, 2026, placing the stock down about 1.1% from its event-day close of $197.60. The share price sits roughly 0.9% above its 50-day moving average of $193.84, but remains 6.8% below its 200-day moving average of $209.68. The stock trades 17.7% below its 52-week high of $237.54 and 15.0% above its 52-week low of $170.00. The recent price leaves a noticeable gap compared to the consensus mean price target of $238.47 across 19 analyst opinions.
$DOV price target
Dover Corporation daily closes and this analyst's $233 target. Not advice.
Recent Earnings
Dover Corporation reported trailing twelve-month revenue of $8,576,562,176.00 and basic earnings per share of $8.09. The company operates with a trailing price-to-earnings ratio of 24.16 and a forward P/E of 16.73. Year-over-year revenue growth stands at 7.5%, supported by a net profit margin of 13.6%.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
5 analysts raised price targets.
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EPS & revenue
EPS met estimates. Revenue beat estimates by 1.5%.
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Profit surprise
EBITDA missed by 29 percent. Operating income missed by 20 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
5 target raises.
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Earnings quality
Gross margin down 1.1 points. Operating margin down 1.0 points. Positive free cash flow.
Earnings Call Summary
Dover had a strong first quarter with revenue of $2.05 billion, up 10 percent from last year, and adjusted earnings per share of $2.28, up 11 percent. The standout was bookings, which hit a record $2.5 billion, up 24 percent year over year, driven by strong demand in clean energy, climate technologies, and aerospace and defense. Management said customers are booking orders well into the future because of tight supply, not because they are trying to beat price increases or tariffs.
Guidance Dover reaffirmed full year guidance and expects to drive toward the top end of the range. The company expects roughly $2.2 billion in second quarter revenue, with seasonal strength in Q2 and Q3. Management is committed to double-digit adjusted earnings per share growth for 2026.
Fine but not compelling. Acceptable results that likely do not create a meaningful forward reset.
Dividend
Dover Corporation pays an annual dividend rate of $2.10 per share, delivering a dividend yield of 1.07%. The payout is backed by a dividend payout ratio of 25.1%.
Insider Buying and Selling at Dover Corporation
Company insiders have completed several stock transactions over recent quarters. General Counsel Ivonne M. Cabrera sold 2,630 shares on December 4, 2025, at an average price of $190.80 for a total value of $501,816.00. Officer Girish Juneja sold 1,500 shares on February 11, 2026, at $230.77 per share for a total value of $346,155.00. Later, on February 17, 2026, Ivonne M. Cabrera sold another 4,000 shares at $233.23 per share for a total value of $932,912.00. Chief Executive Officer Richard J. Tobin also sold 76,997 shares on February 19, 2026, at an average price of $232.70.
About Dover Corporation
Dover Corporation manufactures a wide array of specialized industrial equipment, software solutions, and components for markets ranging from aerospace and defense to fluid dispensing and the vehicle aftermarket. Based in Downers Grove, Illinois, the company employs roughly 24,000 people worldwide and operates through multiple segments geared toward engineered products and digital support services.
Bottom Line
Wells Fargo's updated target highlights modest upside expectations as Dover Corporation trades below both its 200-day moving average and current analyst targets. Investors will monitor upcoming earnings reports and further institutional filings to gauge demand across the company's engineered products segments.
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Source: Wells Fargo's rating change on $DOV (Oct 23, 2026). Written by software, not financial advice. How we make alerts