Dover (NYSE:DOV) Earns “Outperform” Rating from Robert W. Baird

Robert W. Baird reiterated their outperform rating on shares of Dover (NYSE:DOV) in a research note published on Monday, Benzinga reports. They currently have a $208.00 price objective on the industrial products company’s stock.

A number of other analysts have also recently weighed in on DOV. Oppenheimer upped their price target on Dover from $187.00 to $197.00 and gave the company an outperform rating in a research report on Friday, April 26th. Barclays upped their price target on Dover from $180.00 to $186.00 and gave the company an equal weight rating in a research report on Friday, April 26th. StockNews.com upgraded Dover from a hold rating to a buy rating in a research report on Friday, April 26th. Mizuho upped their price target on Dover from $180.00 to $185.00 and gave the company a buy rating in a research report on Friday, April 26th. Finally, Citigroup upped their price target on Dover from $180.00 to $205.00 and gave the company a buy rating in a research report on Monday, April 8th. Three 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 presently has an average rating of Moderate Buy and a consensus target price of $185.75.

Dover Stock Performance

DOV opened at $186.32 on Monday. The stock has a market cap of $25.61 billion, a PE ratio of 17.90, a P/E/G ratio of 2.19 and a beta of 1.22. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58. Dover has a 1 year low of $127.25 and a 1 year high of $192.31. The stock’s 50 day simple moving average is $181.46 and its 200-day simple moving average is $172.25.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. Dover had a return on equity of 25.04% and a net margin of 17.28%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the business posted $1.94 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. Sell-side analysts forecast that Dover will post 9.1 EPS for the current year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Friday, May 31st. Dover’s payout ratio is presently 19.60%.

Hedge Funds Weigh In On Dover

Several large investors have recently made changes to their positions in DOV. Price T Rowe Associates Inc. MD lifted its stake in shares of Dover by 153.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock valued at $466,622,000 after acquiring an additional 1,595,611 shares during the period. Norges Bank acquired a new position in shares of Dover during the fourth quarter valued at $175,275,000. Franklin Resources Inc. lifted its stake in shares of Dover by 15.4% during the fourth quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock valued at $567,426,000 after acquiring an additional 492,577 shares during the period. Wellington Management Group LLP lifted its stake in shares of Dover by 50.7% during the fourth quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock valued at $189,433,000 after acquiring an additional 414,481 shares during the period. Finally, Interval Partners LP acquired a new position in shares of Dover during the first quarter valued at $49,195,000. 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.