Dover (NYSE:DOV) Given Outperform Rating at Robert W. Baird

Robert W. Baird reaffirmed their outperform rating on shares of Dover (NYSE:DOV) in a report published on Monday, Benzinga reports. The brokerage currently has a $208.00 price objective on the industrial products company’s stock.

Several other brokerages have also weighed in on DOV. Citigroup upped their target price on Dover from $180.00 to $205.00 and gave the stock a buy rating in a research report on Monday, April 8th. Wells Fargo & Company raised their price objective on shares of Dover from $177.00 to $190.00 and gave the company an equal weight rating in a research report on Friday, April 26th. Oppenheimer boosted their target price on shares of Dover from $187.00 to $197.00 and gave the stock an outperform rating in a research report on Friday, April 26th. Mizuho raised their price target on shares of Dover from $180.00 to $185.00 and gave the company a buy rating in a report on Friday, April 26th. Finally, StockNews.com upgraded shares of Dover from a hold rating to a buy rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Dover presently has a consensus rating of Moderate Buy and a consensus target price of $185.75.

Dover Stock Down 2.3 %

Dover stock opened at $176.26 on Monday. Dover has a twelve month low of $127.25 and a twelve month high of $192.31. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.89 and a current ratio of 1.31. The firm has a market cap of $24.22 billion, a PE ratio of 16.93, a P/E/G ratio of 2.20 and a beta of 1.22. The firm’s 50 day moving average price is $181.42 and its two-hundred day moving average price is $172.15.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, beating the consensus estimate of $1.88 by $0.07. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Dover had a net margin of 17.28% and a return on equity of 25.04%. Dover’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the company posted $1.94 EPS. On average, research analysts predict that Dover will post 9.1 EPS for the current fiscal year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Friday, May 31st. Dover’s dividend payout ratio is 19.60%.

Institutional Investors Weigh In On Dover

Several hedge funds and other institutional investors have recently made changes to their positions in the business. LRI Investments LLC bought a new stake in Dover during the 1st quarter valued at approximately $27,000. AdvisorNet Financial Inc increased its position in Dover by 783.3% during the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 188 shares during the period. Life Planning Partners Inc acquired a new position in Dover during the 4th quarter valued at $35,000. Northwest Financial Advisors bought a new stake in Dover in the 4th quarter valued at $36,000. Finally, Transcendent Capital Group LLC grew its position in Dover by 208.0% in the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 156 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

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.