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

Dover (NYSE:DOV) had its target price raised by Robert W. Baird from $185.00 to $208.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Other equities analysts have also issued research reports about the company. Seaport Res Ptn upgraded Dover from a neutral rating to a buy rating in a research report on Monday, February 5th. Barclays raised 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. Royal Bank of Canada boosted their price target on shares of Dover from $146.00 to $153.00 and gave the company a sector perform rating in a report on Friday, February 2nd. StockNews.com lowered shares of Dover from a buy rating to a hold rating in a research note on Friday, March 22nd. Finally, Oppenheimer boosted their target price on shares of Dover from $177.00 to $187.00 and gave the company an outperform rating in a research note on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $185.75.

Dover Trading Up 0.6 %

Shares of Dover stock opened at $180.17 on Friday. The business has a fifty day simple moving average of $171.75 and a 200-day simple moving average of $154.47. Dover has a fifty-two week low of $127.25 and a fifty-two week high of $181.49. The firm has a market cap of $24.75 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 1.87 and a beta of 1.27. 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 (NYSE:DOV) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) 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 firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business posted $1.94 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities analysts forecast that Dover will post 9.1 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid 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 (DPR) is currently 19.60%.

Insider Transactions at Dover

In related news, CFO Brad M. Cerepak sold 6,000 shares of Dover stock in a transaction 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 owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the business’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 sale, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brad M. Cerepak sold 6,000 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now owns 17,909 shares in the company, valued at approximately $3,164,699.39. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,910 shares of company stock valued at $4,318,059. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Dover

Several hedge funds have recently bought and sold shares of DOV. AdvisorNet Financial Inc boosted its stake in shares of Dover by 783.3% during the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 188 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in Dover during the fourth quarter valued at approximately $33,000. Life Planning Partners Inc acquired a new position in Dover during the fourth quarter valued at approximately $35,000. Orion Capital Management LLC bought a new position in shares of Dover in the third quarter valued at approximately $32,000. Finally, Headinvest LLC acquired a new stake in shares of Dover in the third quarter worth $32,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Company Profile

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.