Dover (NYSE:DOV) Now Covered by Morgan Stanley

Analysts at Morgan Stanley started coverage on shares of Dover (NYSE:DOV) in a report issued on Monday,Benzinga reports. The firm set an “equal weight” rating and a $185.00 price target on the industrial products company’s stock. Morgan Stanley’s price objective points to a potential upside of 14.03% from the company’s current price.

A number of other analysts have also recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Barclays cut their price objective on Dover from $205.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday. Oppenheimer restated an “outperform” rating and issued a $225.00 target price (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. Royal Bank of Canada boosted their price target on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. decreased their price objective on Dover from $230.00 to $189.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $209.92.

Dover Stock Performance

Shares of DOV stock opened at $162.23 on Monday. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. Dover has a 12-month low of $143.04 and a 12-month high of $222.31. The business’s 50 day moving average is $184.81 and its two-hundred day moving average is $191.48. The company has a market capitalization of $22.24 billion, a P/E ratio of 8.34, a P/E/G ratio of 2.06 and a beta of 1.24.

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, meeting analysts’ consensus estimates of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Analysts expect that Dover will post 9.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Dover

Several institutional investors and hedge funds have recently bought and sold shares of the company. Financial Life Planners purchased a new stake in shares of Dover during the 4th quarter valued at approximately $28,000. R Squared Ltd acquired a new stake in Dover during the fourth quarter worth $34,000. EverSource Wealth Advisors LLC raised its position in Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 87 shares during the period. Kieckhefer Group LLC acquired a new position in shares of Dover in the 4th quarter valued at $38,000. Finally, Orion Capital Management LLC purchased a new position in shares of Dover during the 4th quarter worth $43,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.