Dover (NYSE:DOV) Given New $195.00 Price Target at Morgan Stanley

Dover (NYSE:DOV) had its target price increased by Morgan Stanley from $185.00 to $195.00 in a research note issued to investors on Tuesday morning, MarketBeat reports. They currently have an equal weight rating on the industrial products company’s stock.

A number of other equities research analysts have also recently commented on the stock. UBS Group set a $200.00 price target on shares of Dover in a report on Friday. Citigroup reaffirmed a “buy” rating and issued a $226.00 price target (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. JPMorgan Chase & Co. lifted their price target on shares of Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Oppenheimer lowered their target price on shares of Dover from $225.00 to $220.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Finally, Wall Street Zen raised shares of Dover from a “hold” rating to a “buy” rating in a report on Saturday. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and an average price target of $211.55.

Dover Trading Up 1.0%

NYSE:DOV opened at $179.70 on Tuesday. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $24.65 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 1.38 and a beta of 1.26. The firm’s 50 day moving average is $172.15 and its 200 day moving average is $176.32. Dover has a 12 month low of $143.04 and a 12 month high of $222.31.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. The company had revenue of $1.78 billion for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. Sell-side analysts expect that Dover will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 29th. This is an increase from Dover’s previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. Dover’s payout ratio is currently 12.79%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Dover by 1.4% in the second quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company’s stock worth $3,036,722,000 after purchasing an additional 231,146 shares during the period. State Street Corp increased its holdings in shares of Dover by 2.7% in the second quarter. State Street Corp now owns 6,447,149 shares of the industrial products company’s stock worth $1,181,311,000 after purchasing an additional 171,934 shares during the period. Geode Capital Management LLC increased its holdings in shares of Dover by 1.0% in the second quarter. Geode Capital Management LLC now owns 3,453,121 shares of the industrial products company’s stock worth $629,996,000 after purchasing an additional 33,539 shares during the period. Nuveen LLC bought a new position in shares of Dover in the first quarter worth $526,081,000. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of Dover by 10.6% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,376,279 shares of the industrial products company’s stock worth $435,406,000 after purchasing an additional 227,653 shares during the period. Institutional investors own 84.46% of the company’s stock.

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.