Robert W. Baird Cuts Dover (NYSE:DOV) Price Target to $219.00

Dover (NYSE:DOV - Get Free Report) had its target price dropped by equities research analysts at Robert W. Baird from $238.00 to $219.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an "outperform" rating on the industrial products company's stock. Robert W. Baird's target price points to a potential upside of 29.28% from the stock's current price.

A number of other analysts have also recently issued reports on DOV. Oppenheimer reaffirmed an "outperform" rating and issued a $225.00 price objective (up from $220.00) on shares of Dover in a research report on Friday, January 31st. Royal Bank of Canada increased their price objective on shares of Dover from $196.00 to $214.00 and gave the stock a "sector perform" rating in a research report on Friday, January 31st. Citigroup dropped their price objective on shares of Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Morgan Stanley assumed coverage on Dover in a research report on Monday, April 14th. They set an "equal weight" rating and a $185.00 target price on the stock. Finally, Barclays upped their price objective on Dover from $180.00 to $185.00 and gave the company an "equal weight" rating in a research note 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $206.33.

Dover Price Performance

Shares of NYSE DOV traded down $0.82 during mid-day trading on Friday, reaching $169.40. The company had a trading volume of 279,302 shares, compared to its average volume of 972,292. The company has a 50-day moving average price of $175.48 and a two-hundred day moving average price of $189.43. The stock has a market cap of $23.22 billion, a PE ratio of 8.71, a P/E/G ratio of 2.06 and a beta of 1.24. Dover has a 1-year low of $143.04 and a 1-year high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, beating analysts' consensus estimates of $1.99 by $0.06. Dover had a net margin of 32.95% and a return on equity of 21.03%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the business earned $1.95 earnings per share. The firm's revenue for the quarter was down .9% on a year-over-year basis. On average, equities analysts anticipate that Dover will post 9.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Dover during the fourth quarter worth about $316,228,000. GAMMA Investing LLC increased its holdings in shares of Dover by 35,832.0% in the first quarter. GAMMA Investing LLC now owns 563,054 shares of the industrial products company's stock valued at $98,917,000 after purchasing an additional 561,487 shares during the period. Balyasny Asset Management L.P. purchased a new position in Dover during the fourth quarter worth about $99,017,000. Adage Capital Partners GP L.L.C. lifted its position in shares of Dover by 31.6% during 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. Finally, Assenagon Asset Management S.A. raised its position in shares of Dover by 350.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 410,350 shares of the industrial products company's stock worth $72,090,000 after purchasing an additional 319,319 shares during the last quarter. Hedge funds and other 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.