Dover (NYSE:DOV) Price Target Raised to $208.00 at Robert W. Baird

Dover (NYSE:DOV) had its price objective increased by Robert W. Baird from $185.00 to $208.00 in a research note published on Friday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the industrial products company’s stock.

DOV has been the topic of a number of other research reports. StockNews.com lowered shares of Dover from a buy rating to a hold rating in a research report on Friday, March 22nd. Barclays lifted their price target on shares of Dover from $163.00 to $180.00 and gave the company an equal weight rating in a report on Tuesday, April 2nd. Citigroup lifted their price target on shares of Dover from $180.00 to $205.00 and gave the company a buy rating in a report on Monday, April 8th. Seaport Res Ptn upgraded shares of Dover from a neutral rating to a buy rating in a report on Monday, February 5th. Finally, Oppenheimer lifted their price target on shares of Dover from $177.00 to $187.00 and gave the company an outperform rating in a report on Thursday, April 18th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $185.75.

Dover Trading Up 0.6 %

Shares of DOV opened at $180.17 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.40 and a quick ratio of 0.90. The firm has a 50 day simple moving average of $171.75 and a 200-day simple moving average of $154.29. Dover has a 1-year low of $127.25 and a 1-year high of $181.49. The stock has a market cap of $24.75 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 1.85 and a beta of 1.27.

Dover (NYSE:DOV) last announced its earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.41%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the business earned $1.94 earnings per share. Dover’s revenue was up .7% compared to the same quarter last year. Equities analysts forecast that Dover will post 9.09 EPS for the current fiscal year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Wednesday, February 28th. Dover’s dividend payout ratio is presently 19.60%.

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the completion of the transaction, the chief financial officer now directly owns 17,909 shares of the company’s stock, valued at approximately $3,164,699.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Stephen M. Todd sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the completion of the sale, the director now directly owns 22,955 shares of the company’s stock, valued at approximately $3,929,666.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brad M. Cerepak sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the completion of the sale, the chief financial officer now directly owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The disclosure for this sale can be found here. Insiders sold 25,910 shares of company stock valued at $4,318,059 in the last ninety days. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Dover

A number of hedge funds and other institutional investors have recently made changes to their positions in DOV. AdvisorNet Financial Inc lifted its stake in Dover by 783.3% during the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 188 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in Dover during the fourth quarter valued at approximately $33,000. Life Planning Partners Inc acquired a new stake in Dover during the fourth quarter valued at approximately $35,000. Orion Capital Management LLC acquired a new stake in Dover during the third quarter valued at approximately $32,000. Finally, Headinvest LLC acquired a new stake in Dover during the third quarter valued at approximately $32,000. 84.46% of the stock is currently owned by institutional investors.

About Dover

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.