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

Dover (NYSE:DOV) had its price objective boosted by Robert W. Baird from $175.00 to $185.00 in a report issued on Thursday, Benzinga reports. Robert W. Baird currently has an outperform rating on the industrial products company’s stock.

DOV has been the topic of several other reports. StockNews.com lowered Dover from a buy rating to a hold rating in a report on Friday, March 22nd. Citigroup lifted their target price on Dover from $167.00 to $173.00 and gave the stock a buy rating in a report on Monday, December 11th. Royal Bank of Canada lifted their price target on Dover from $146.00 to $153.00 and gave the company a sector perform rating in a research note on Friday, February 2nd. Oppenheimer lifted their price target on Dover from $175.00 to $177.00 and gave the company an outperform rating in a research note on Friday, February 2nd. Finally, Wells Fargo & Company lifted their price target on Dover from $140.00 to $167.00 and gave the company an equal weight rating in a research note on Tuesday, December 19th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $168.70.

Dover Stock Up 0.0 %

NYSE:DOV opened at $177.23 on Thursday. Dover has a 12-month low of $127.25 and a 12-month high of $178.28. 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 firm has a market capitalization of $24.35 billion, a P/E ratio of 23.57, a P/E/G ratio of 1.79 and a beta of 1.27. The stock’s fifty day simple moving average is $164.28 and its 200-day simple moving average is $149.52.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.45 earnings per share (EPS) 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 business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the company earned $2.16 EPS. The firm’s revenue was down 1.5% on a year-over-year basis. Equities research analysts expect that Dover will post 9.07 earnings per share for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Wednesday, February 28th. Dover’s dividend payout ratio is currently 27.13%.

Insiders Place Their Bets

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 stock was sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the transaction, the chief financial officer now owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction that occurred 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 SEC, which is available at this hyperlink. Also, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction that occurred on 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 sale, 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. Insiders have sold a total of 25,910 shares of company stock valued at $4,318,059 over the last 90 days. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dover

Institutional investors have recently made changes to their positions in the company. Fairfield Bush & CO. bought a new stake in shares of Dover in the first quarter valued at approximately $48,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Dover during the first quarter valued at approximately $938,000. Raymond James Trust N.A. raised its position in Dover by 5.8% during the first quarter. Raymond James Trust N.A. now owns 5,645 shares of the industrial products company’s stock valued at $886,000 after purchasing an additional 310 shares in the last quarter. Vontobel Holding Ltd. raised its position in Dover by 6.5% during the first quarter. Vontobel Holding Ltd. now owns 9,126 shares of the industrial products company’s stock valued at $1,465,000 after purchasing an additional 561 shares in the last quarter. Finally, Sei Investments Co. raised its position in Dover by 6.1% during the first quarter. Sei Investments Co. now owns 140,560 shares of the industrial products company’s stock valued at $22,055,000 after purchasing an additional 8,054 shares in the last quarter. 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.