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

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

A number of other brokerages have also issued reports on DOV. Seaport Res Ptn raised Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Oppenheimer upped their target price on Dover from $175.00 to $177.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Barclays boosted their target price on Dover from $150.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Monday, February 5th. Royal Bank of Canada upped their target price on Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Finally, Wells Fargo & Company upped their price target on Dover from $140.00 to $167.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 19th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $168.70.

Dover Price Performance

Dover stock traded up $0.06 during midday trading on Thursday, hitting $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. The stock’s 50-day moving average price is $163.68 and its 200-day moving average price is $149.33. Dover has a 12 month low of $127.25 and a 12 month high of $178.28. The company has a market capitalization of $24.35 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 1.79 and a beta of 1.27.

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

Insider Transactions at Dover

In other Dover news, Director Stephen M. Todd sold 1,500 shares of the company’s 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 transaction, the director now directly owns 22,955 shares in the company, valued at approximately $3,929,666.45. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Stephen M. Todd sold 1,500 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $171.19, for a total transaction of $256,785.00. Following the completion of the sale, the director now owns 22,955 shares in the company, valued at $3,929,666.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was 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 of the company’s stock, valued at approximately $3,897,406.09. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,910 shares of company stock worth $4,318,059. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in Dover during the 4th quarter worth approximately $167,153,000. Price T Rowe Associates Inc. MD increased its holdings in Dover by 112.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,902,351 shares of the industrial products company’s stock valued at $257,597,000 after buying an additional 1,005,470 shares during the last quarter. CI Private Wealth LLC acquired a new position in Dover in the fourth quarter valued at $126,175,000. Adage Capital Partners GP L.L.C. boosted its stake in Dover by 160.2% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock valued at $199,319,000 after acquiring an additional 879,533 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Dover by 2,173.8% in the third quarter. Wellington Management Group LLP now owns 817,125 shares of the industrial products company’s stock valued at $113,997,000 after purchasing an additional 781,189 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

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.