Dover (NYSE:DOV) Price Target Cut to $169.00 by Analysts at Robert W. Baird

Dover (NYSE:DOV – Get Rating) had its price target decreased by research analysts at Robert W. Baird from $194.00 to $169.00 in a research note issued to investors on Thursday, The Fly reports. Robert W. Baird’s price objective indicates a potential upside of 17.23% from the company’s previous close.

Several other research firms have also commented on DOV. StockNews.com assumed coverage on Dover in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Citigroup raised their price objective on Dover from $218.00 to $221.00 in a research note on Friday, January 28th. Zacks Investment Research downgraded Dover from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research note on Wednesday, March 16th. Barclays cut shares of Dover from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $190.00 to $160.00 in a research note on Friday, April 8th. Finally, Morgan Stanley dropped their price target on shares of Dover from $196.00 to $177.00 and set an “equal weight” rating for the company in a research report on Thursday, April 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $178.92.

NYSE:DOV traded down $11.36 on Thursday, hitting $144.16. The stock had a trading volume of 2,189,035 shares, compared to its average volume of 836,115. The business’s 50-day simple moving average is $155.20 and its two-hundred day simple moving average is $165.59. The stock has a market cap of $20.77 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 1.22 and a beta of 1.40. Dover has a 52-week low of $138.50 and a 52-week high of $184.04. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.72.

Dover (NYSE:DOV – Get Rating) last posted its quarterly earnings data on Thursday, April 21st. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.07. Dover had a net margin of 14.21% and a return on equity of 28.99%. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the firm posted $1.81 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Dover will post 8.57 EPS for the current year.

In other Dover news, CEO Richard J. Tobin sold 31,515 shares of Dover stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $156.91, for a total value of $4,945,018.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Anthony K. Kosinski sold 3,287 shares of the company’s stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $153.43, for a total transaction of $504,324.41. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of DOV. Selective Wealth Management Inc. bought a new stake in Dover in the fourth quarter worth about $27,000. First Community Trust NA purchased a new stake in shares of Dover in the fourth quarter worth approximately $30,000. Richwood Investment Advisors LLC purchased a new position in Dover during the 4th quarter valued at $31,000. CVA Family Office LLC bought a new position in Dover in the 4th quarter valued at $35,000. Finally, Allworth Financial LP increased its stake in Dover by 45.2% in the fourth quarter. Allworth Financial LP now owns 196 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 61 shares during the period. Institutional investors own 82.30% of the company’s stock.

About Dover (Get Rating)

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

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