Robert W. Baird Raises Dover (NYSE:DOV) Price Target to $185.00

Dover (NYSE:DOV) had its price target lifted by analysts at Robert W. Baird from $175.00 to $185.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s price objective indicates a potential upside of 4.35% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Citigroup lifted their price target on Dover from $167.00 to $173.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Barclays boosted their target price on Dover from $150.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Monday, February 5th. Wells Fargo & Company boosted their target price on Dover from $140.00 to $167.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 19th. StockNews.com downgraded Dover from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, Oppenheimer lifted their price objective on shares of Dover from $175.00 to $177.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and an average price target of $168.70.

Dover Price Performance

Shares of DOV stock traded up $0.06 during trading hours on Thursday, reaching $177.28. The company’s stock had a trading volume of 319,809 shares, compared to its average volume of 952,550. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 0.59. Dover has a fifty-two week low of $127.25 and a fifty-two week high of $178.28. The company has a market capitalization of $24.35 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 1.79 and a beta of 1.27. The firm’s 50 day simple moving average is $163.68 and its 200-day simple moving average is $149.33.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.01. Dover had a return on equity of 25.95% and a net margin of 12.52%. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the company posted $2.16 EPS. The business’s quarterly revenue was down 1.5% on a year-over-year basis. Sell-side analysts forecast that Dover will post 9.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the sale, the director now owns 22,955 shares in the company, valued at $3,929,666.45. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of Dover stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the sale, the director now owns 22,955 shares of the company’s stock, valued at approximately $3,929,666.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,910 shares of company stock worth $4,318,059. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DOV. Legacy Financial Advisors Inc. lifted its stake in shares of Dover by 1.7% in the 4th quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock valued at $577,000 after purchasing an additional 63 shares during the period. BOKF NA raised its position in shares of Dover by 0.7% in the fourth quarter. BOKF NA now owns 10,057 shares of the industrial products company’s stock valued at $1,547,000 after buying an additional 68 shares during the last quarter. Manchester Capital Management LLC grew its holdings in shares of Dover by 4.1% in the fourth quarter. Manchester Capital Management LLC now owns 1,752 shares of the industrial products company’s stock valued at $269,000 after purchasing an additional 69 shares during the period. CX Institutional grew its holdings in shares of Dover by 1.5% in the fourth quarter. CX Institutional now owns 4,933 shares of the industrial products company’s stock valued at $759,000 after purchasing an additional 72 shares during the period. Finally, First Commonwealth Financial Corp PA grew its holdings in shares of Dover by 2.6% in the fourth quarter. First Commonwealth Financial Corp PA now owns 3,176 shares of the industrial products company’s stock valued at $430,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

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.