A number of other equities research analysts have also issued reports on DOV. Zacks Investment Research lowered Dover Corp. from a hold rating to a sell rating in a research note on Monday, June 27th. Sanford C. Bernstein reissued an outperform rating on shares of Dover Corp. in a research note on Monday, June 27th. Barclays PLC raised their price target on Dover Corp. from $65.00 to $71.00 and gave the stock an equal weight rating in a research note on Monday, July 18th. Bank of America Corp. reissued a buy rating and set a $85.00 price target on shares of Dover Corp. in a research note on Thursday, October 6th. Finally, Susquehanna began coverage on Dover Corp. in a research report on Friday, October 7th. They set a neutral rating and a $77.00 target price for the company. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $72.19.
Dover Corp. (NYSE:DOV) opened at 67.78 on Tuesday. The company has a market capitalization of $10.52 billion, a P/E ratio of 19.49 and a beta of 1.25. Dover Corp. has a one year low of $50.91 and a one year high of $74.90. The stock’s 50 day moving average price is $70.63 and its 200-day moving average price is $69.15.
Dover Corp. (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.76 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by $0.09. Dover Corp. had a return on equity of 14.27% and a net margin of 8.03%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the business posted $0.98 earnings per share. Dover Corp.’s revenue was down 4.1% on a year-over-year basis. Equities analysts forecast that Dover Corp. will post $3.34 EPS for the current year.
In related news, VP Paul Goldberg sold 1,800 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $72.13, for a total transaction of $129,834.00. Following the transaction, the vice president now directly owns 11,778 shares in the company, valued at approximately $849,547.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Robert Livingston sold 25,927 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $69.24, for a total value of $1,795,185.48. Following the transaction, the chief executive officer now owns 192,630 shares in the company, valued at $13,337,701.20. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Shinko Asset Management Co. Ltd. boosted its stake in shares of Dover Corp. by 0.6% in the second quarter. Shinko Asset Management Co. Ltd. now owns 4,247 shares of the company’s stock worth $294,000 after buying an additional 25 shares in the last quarter. Archford Capital Strategies LLC boosted its stake in shares of Dover Corp. by 0.4% in the second quarter. Archford Capital Strategies LLC now owns 11,957 shares of the company’s stock worth $829,000 after buying an additional 44 shares in the last quarter. Ngam Advisors L.P. boosted its stake in shares of Dover Corp. by 0.5% in the second quarter. Ngam Advisors L.P. now owns 12,291 shares of the company’s stock worth $852,000 after buying an additional 59 shares in the last quarter. Phocas Financial Corp. boosted its stake in shares of Dover Corp. by 0.6% in the first quarter. Phocas Financial Corp. now owns 13,496 shares of the company’s stock worth $868,000 after buying an additional 85 shares in the last quarter. Finally, Peachtree Investment Advisors Inc. boosted its stake in shares of Dover Corp. by 0.5% in the second quarter. Peachtree Investment Advisors Inc. now owns 20,180 shares of the company’s stock worth $1,399,000 after buying an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 85.56% of the company’s stock.
Dover Corp. Company Profile
Dover Corporation (Dover) is engaged in the manufacturing of equipment, components and specialty systems. The Company also provides supporting engineering, testing and other services. The Company operates through four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for production and processing of fuels across the world.
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