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

Dover (NYSE:DOV) had its price objective boosted by Robert W. Baird from $185.00 to $208.00 in a report released on Friday, Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

A number of other research analysts have also recently commented on the stock. StockNews.com cut shares of Dover from a buy rating to a hold rating in a report on Friday, March 22nd. Royal Bank of Canada increased their target price on shares of Dover from $146.00 to $153.00 and gave the stock a sector perform rating in a report on Friday, February 2nd. Seaport Res Ptn raised shares of Dover from a neutral rating to a buy rating in a report on Monday, February 5th. Barclays increased their target price on shares of Dover from $163.00 to $180.00 and gave the stock an equal weight rating in a report on Tuesday, April 2nd. Finally, Oppenheimer increased their target price on shares of Dover from $177.00 to $187.00 and gave the stock an outperform rating in a report on Thursday, April 18th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Dover presently has a consensus rating of Moderate Buy and a consensus price target of $185.75.

Dover Trading Up 0.6 %

DOV opened at $180.17 on Friday. Dover has a twelve month low of $127.25 and a twelve month high of $181.49. The company has a 50-day simple moving average of $171.75 and a 200 day simple moving average of $154.29. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $24.75 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 1.85 and a beta of 1.27.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.41%. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the business posted $1.94 earnings per share. Dover’s revenue was up .7% compared to the same quarter last year. Analysts predict 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 issued a $0.51 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $2.04 dividend on an annualized basis and a yield of 1.13%. Dover’s dividend payout ratio (DPR) is presently 19.60%.

Insider Activity at Dover

In related news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $163.01, for a total value of $3,001,014.10. Following the completion of the transaction, the chief financial officer now owns 23,909 shares in the company, valued at approximately $3,897,406.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the completion of the sale, the chief financial officer now owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brad M. Cerepak sold 6,000 shares of the firm’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 sale, the chief financial officer now directly owns 17,909 shares of the company’s stock, valued at approximately $3,164,699.39. The disclosure for this sale can be found here. Insiders sold a total of 25,910 shares of company stock worth $4,318,059 in the last quarter. 1.30% of the stock is owned by insiders.

Institutional Trading of Dover

Several large investors have recently modified their holdings of DOV. Orion Capital Management LLC acquired a new stake in shares of Dover during the 3rd quarter worth approximately $32,000. Headinvest LLC acquired a new stake in shares of Dover during the 3rd quarter worth approximately $32,000. Exchange Traded Concepts LLC acquired a new stake in Dover in the 4th quarter valued at $33,000. AdvisorNet Financial Inc grew its position in Dover by 783.3% in the 4th 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 period. Finally, Life Planning Partners Inc acquired a new stake in Dover in the 4th quarter valued at $35,000. Institutional investors and hedge funds 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.