Dover (NYSE:DOV) Price Target Raised to $234.00 at Robert W. Baird

Key Points

• Robert W. Baird has raised its price target for Dover (NYSE:DOV) from $219.00 to $234.00, suggesting a potential upside of 25.46% from the stock's previous close.
• Other analysts have also increased their target prices, with Citigroup raising its target to $226.00 and JPMorgan to $211.00, reflecting a consensus of moderate buy ratings for the stock.
• Dover recently reported $2.44 earnings per share for the quarter, exceeding analysts' expectations, along with a 5.2% year-over-year revenue growth to $2.05 billion.

Dover (NYSE:DOV - Get Free Report) had its price objective boosted by research analysts at Robert W. Baird from $219.00 to $234.00 in a report released on Friday,Benzinga reports. The firm currently has an "outperform" rating on the industrial products company's stock. Robert W. Baird's target price would indicate a potential upside of 25.46% from the stock's previous close.

Other equities analysts have also recently issued reports about the stock. Citigroup reiterated a "buy" rating and set a $226.00 target price (up from $202.00) on shares of Dover in a research note on Monday, July 14th. Wells Fargo & Company upped their price target on Dover from $180.00 to $190.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. JPMorgan Chase & Co. upped their price target on Dover from $190.00 to $211.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Mizuho lifted their price target on shares of Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Finally, Barclays lifted their target price on shares of Dover from $180.00 to $185.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $209.83.

Dover Stock Down 2.3%

DOV opened at $186.51 on Friday. The firm has a market cap of $25.57 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 1.61 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.56 and a current ratio of 2.13. Dover has a twelve month low of $143.04 and a twelve month high of $222.31. The business has a 50 day moving average price of $182.63 and a 200 day moving average price of $183.20.

Dover (NYSE:DOV - Get Free Report) last released its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, topping analysts' consensus estimates of $2.39 by $0.05. Dover had a net margin of 28.85% and a return on equity of 19.54%. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business earned $2.36 EPS. The business's revenue was up 5.2% on a year-over-year basis. Research analysts forecast that Dover will post 9.45 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new position in Dover in the first quarter valued at about $526,081,000. Norges Bank acquired a new stake in shares of Dover in the 4th quarter valued at approximately $316,228,000. GAMMA Investing LLC raised its position in shares of Dover by 35,832.0% in the 1st quarter. GAMMA Investing LLC now owns 563,054 shares of the industrial products company's stock valued at $98,917,000 after acquiring an additional 561,487 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Dover in the 4th quarter valued at approximately $99,017,000. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of Dover by 31.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company's stock valued at $409,530,000 after acquiring an additional 524,092 shares during the period. Institutional investors and hedge funds own 84.46% of the company's stock.

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.

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