Dover (NYSE:DOV) Now Covered by Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Dover (NYSE:DOV) in a research report released on Monday, MarketBeat Ratings reports. The firm issued an equal weight rating and a $185.00 price objective on the industrial products company’s stock.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. reduced their price objective on Dover from $230.00 to $189.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Barclays lowered their price target on shares of Dover from $205.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 price objective (up from $220.00) on shares of Dover in a report on Friday, January 31st. Finally, UBS Group lowered their target price on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $208.17.

Dover Stock Performance

DOV opened at $163.63 on Monday. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock’s 50 day moving average price is $183.98 and its two-hundred day moving average price is $191.28. The firm has a market capitalization of $22.43 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. Dover has a 12-month low of $143.04 and a 12-month high of $222.31.

Dover (NYSE:DOV) last announced its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, equities analysts forecast that Dover will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.515 per share. The ex-dividend date was Friday, February 28th. This represents a $2.06 annualized dividend and a dividend yield of 1.26%. Dover’s dividend payout ratio (DPR) is currently 10.59%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Wolverine Asset Management LLC raised its holdings in Dover by 78.6% during the 4th quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company’s stock worth $2,345,000 after purchasing an additional 5,500 shares during the last quarter. Westpac Banking Corp raised its stake in shares of Dover by 1,332.8% during the fourth quarter. Westpac Banking Corp now owns 24,486 shares of the industrial products company’s stock worth $4,594,000 after buying an additional 22,777 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Dover by 195.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock valued at $17,077,000 after buying an additional 60,235 shares during the period. Principal Financial Group Inc. boosted its stake in Dover by 3.1% in the third quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock valued at $34,100,000 after acquiring an additional 5,372 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in Dover by 1.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 27,626 shares of the industrial products company’s stock worth $5,183,000 after acquiring an additional 444 shares during the period. 84.46% of the stock is currently owned by institutional investors.

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.