Dover (DOV) Given New $97.00 Price Target at Morgan Stanley

Dover (NYSE:DOV) had its price objective raised by Morgan Stanley from $92.00 to $97.00 in a research report sent to investors on Friday. They currently have an equal weight rating on the industrial products company’s stock.

Other analysts have also recently issued research reports about the stock. UBS Group upgraded shares of Dover from a neutral rating to a buy rating and set a $76.35 price objective for the company in a research note on Thursday, January 10th. Zacks Investment Research cut shares of Dover from a buy rating to a hold rating in a research note on Tuesday, March 5th. SunTrust Banks lifted their price objective on shares of Dover to $91.00 and gave the stock a hold rating in a research note on Wednesday, January 30th. They noted that the move was a valuation call. Oppenheimer reiterated a hold rating on shares of Dover in a research note on Tuesday, January 29th. Finally, Wolfe Research upgraded shares of Dover from a market perform rating to an outperform rating in a research note on Tuesday, January 8th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $89.80.

Shares of DOV stock opened at $89.27 on Friday. Dover has a 52 week low of $65.83 and a 52 week high of $93.20. The company has a quick ratio of 0.96, a current ratio of 1.37 and a debt-to-equity ratio of 1.06. The stock has a market cap of $12.94 billion, a P/E ratio of 17.96, a P/E/G ratio of 1.34 and a beta of 1.51.

Dover (NYSE:DOV) last issued its quarterly earnings data on Tuesday, January 29th. The industrial products company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.14. Dover had a net margin of 7.84% and a return on equity of 24.90%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the company earned $1.84 EPS. The business’s revenue was up 3.2% on a year-over-year basis. On average, research analysts forecast that Dover will post 5.73 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 28th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Wednesday, February 27th. Dover’s payout ratio is presently 38.63%.

In other news, VP William Spurgeon sold 13,102 shares of the business’s stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $87.19, for a total value of $1,142,363.38. Following the completion of the transaction, the vice president now directly owns 6,393 shares in the company, valued at approximately $557,405.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jay L. Kloosterboer sold 12,363 shares of the business’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $87.53, for a total transaction of $1,082,133.39. Following the completion of the transaction, the senior vice president now owns 23,827 shares of the company’s stock, valued at $2,085,577.31. The disclosure for this sale can be found here. Insiders sold a total of 48,200 shares of company stock valued at $4,277,800 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. increased its position in Dover by 18.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 200,284 shares of the industrial products company’s stock worth $17,749,000 after purchasing an additional 30,884 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in Dover by 17.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 41,697 shares of the industrial products company’s stock worth $3,691,000 after purchasing an additional 6,231 shares in the last quarter. Synovus Financial Corp increased its position in Dover by 63.7% during the 3rd quarter. Synovus Financial Corp now owns 4,951 shares of the industrial products company’s stock worth $441,000 after purchasing an additional 1,927 shares in the last quarter. Chicago Equity Partners LLC acquired a new position in Dover during the 3rd quarter worth approximately $565,000. Finally, Private Advisor Group LLC increased its position in Dover by 94.8% during the 3rd quarter. Private Advisor Group LLC now owns 7,497 shares of the industrial products company’s stock worth $664,000 after purchasing an additional 3,649 shares in the last quarter. Institutional investors own 87.09% of the company’s stock.

About Dover

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual clamps, power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.

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Analyst Recommendations for Dover (NYSE:DOV)

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