Dover (NYSE:DOV) Coverage Initiated by Analysts at Morgan Stanley

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

A number of other brokerages have also issued reports on DOV. Wells Fargo & Company increased their target price on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Citigroup lowered their price objective on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. 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. Barclays lowered their price target on Dover from $205.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Finally, StockNews.com lowered Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

Dover Stock Up 0.9 %

NYSE:DOV opened at $163.63 on Monday. The stock has a 50-day simple moving average of $183.98 and a 200 day simple moving average of $191.28. Dover has a one year low of $143.04 and a one year high of $222.31. The company has a market capitalization of $22.43 billion, a price-to-earnings ratio of 8.41, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. 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 (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Sell-side analysts predict that Dover will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.515 dividend. The ex-dividend date was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a yield of 1.26%. Dover’s dividend payout ratio is currently 10.59%.

Institutional Trading of Dover

Large investors have recently added to or reduced their stakes in the business. Pallas Capital Advisors LLC increased its position in Dover by 8.1% during the first quarter. Pallas Capital Advisors LLC now owns 53,899 shares of the industrial products company’s stock worth $9,469,000 after buying an additional 4,017 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Dover by 45.4% in the 1st quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 187 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in Dover by 7.0% in the 1st quarter. Park Avenue Securities LLC now owns 8,762 shares of the industrial products company’s stock worth $1,539,000 after purchasing an additional 570 shares during the last quarter. Reliant Investment Management LLC bought a new stake in Dover during the first quarter worth approximately $282,000. Finally, First Affirmative Financial Network grew its holdings in Dover by 4.8% during the first quarter. First Affirmative Financial Network now owns 1,834 shares of the industrial products company’s stock valued at $322,000 after purchasing an additional 84 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

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.