Robert W. Baird Has Lowered Expectations for Dover (NYSE:DOV) Stock Price

Dover (NYSE:DOV - Get Free Report) had its price target reduced by equities research analysts at Robert W. Baird from $238.00 to $219.00 in a research 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 price target suggests a potential upside of 28.65% from the stock's previous close.

Several other equities analysts have also recently commented on DOV. Oppenheimer restated an "outperform" rating and issued a $225.00 target price (up from $220.00) on shares of Dover in a research report on Friday, January 31st. Citigroup dropped their target price on shares of Dover from $244.00 to $201.00 and set a "buy" rating for the company in a research report on Monday, April 14th. UBS Group dropped their target price on shares of Dover from $217.00 to $211.00 and set a "neutral" rating for the company in a research report on Friday, January 31st. Royal Bank of Canada boosted their target price on shares of Dover from $196.00 to $214.00 and gave the company a "sector perform" rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Dover from $230.00 to $189.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Six 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, the stock presently has an average rating of "Moderate Buy" and an average price target of $209.50.

Dover Trading Up 0.7 %

NYSE:DOV traded up $1.22 on Friday, hitting $170.23. 1,068,779 shares of the stock were exchanged, compared to its average volume of 972,832. The stock has a market capitalization of $23.33 billion, a price-to-earnings ratio of 8.75, a P/E/G ratio of 2.06 and a beta of 1.24. Dover has a 52 week low of $143.04 and a 52 week high of $222.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The company's 50-day moving average price is $176.21 and its 200 day moving average price is $189.56.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.88 billion. Dover had a return on equity of 21.03% and a net margin of 32.95%. Dover's revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business posted $1.95 EPS. On average, equities research analysts forecast that Dover will post 9.45 earnings per share for the current year.

Hedge Funds Weigh In On Dover

A number of large investors have recently made changes to their positions in DOV. Ecofi Investissements SA increased its position in shares of Dover by 1.1% in the 4th quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company's stock valued at $765,000 after acquiring an additional 50 shares during the period. Spire Wealth Management increased its position in shares of Dover by 2.1% during the fourth quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company's stock worth $464,000 after purchasing an additional 52 shares in the last quarter. ORG Partners LLC increased its position in shares of Dover by 5.4% during the fourth quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company's stock worth $214,000 after purchasing an additional 58 shares in the last quarter. Trust Point Inc. boosted its stake in Dover by 3.1% during the fourth quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company's stock worth $367,000 after buying an additional 59 shares during the last quarter. Finally, JGP Wealth Management LLC boosted its stake in Dover by 0.8% during the fourth quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company's stock worth $1,515,000 after buying an additional 62 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

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.