Dover (NYSE:DOV) Earns Equal Weight Rating from Analysts at Morgan Stanley

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

Other analysts have also issued research reports about the company. Citigroup dropped their price target on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada increased their price target on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. decreased their target price on Dover from $230.00 to $189.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price target (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Finally, StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.17.

Dover Stock Performance

NYSE:DOV opened at $161.87 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. Dover has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The business has a 50 day moving average price of $182.35 and a 200-day moving average price of $190.88. The firm has a market cap of $22.19 billion, a PE ratio of 8.32, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. Equities research analysts predict that Dover will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.515 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.06 annualized dividend and a yield of 1.27%. Dover’s dividend payout ratio (DPR) is presently 10.59%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Ecofi Investissements SA boosted its holdings in shares of Dover by 1.1% during 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 last quarter. Spire Wealth Management raised its stake in Dover by 2.1% during the 4th quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock valued at $464,000 after buying an additional 52 shares during the last quarter. ORG Partners LLC boosted its stake in shares of Dover by 5.4% in the 4th quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock worth $214,000 after buying an additional 58 shares during the last quarter. Trust Point Inc. lifted its holdings in Dover by 3.1% in the fourth quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock valued at $367,000 after acquiring an additional 59 shares during the period. Finally, JGP Wealth Management LLC grew its stake in shares of Dover by 0.8% during the 4th quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company’s stock valued at $1,515,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors 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.