Several other research firms have also issued reports on DOV. Susquehanna began coverage on Dover Corp. in a research report on Friday, October 7th. They set a neutral rating and a $77.00 price target on the stock. Bank of America Corp. restated a buy rating and set a $85.00 price target on shares of Dover Corp. in a research report on Thursday, October 6th. Zacks Investment Research lowered Dover Corp. from a buy rating to a hold rating in a research report on Thursday, October 6th. Sanford C. Bernstein restated an outperform rating on shares of Dover Corp. in a research report on Monday, June 27th. Finally, Citigroup Inc. reduced their price target on Dover Corp. from $76.00 to $72.00 and set a neutral rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $72.19.
Dover Corp. (NYSE:DOV) traded up 0.28% on Tuesday, reaching $67.10. The company’s stock had a trading volume of 682,375 shares. The firm has a market cap of $10.41 billion, a PE ratio of 19.30 and a beta of 1.25. The stock’s 50 day moving average price is $71.20 and its 200 day moving average price is $69.15. Dover Corp. has a 52-week low of $50.91 and a 52-week high of $74.90.
Dover Corp. (NYSE:DOV) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.85 by $0.09. Dover Corp. had a net margin of 8.03% and a return on equity of 14.27%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The business’s quarterly revenue was down 4.1% on a year-over-year basis. Equities research analysts expect that Dover Corp. will post $3.34 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a $0.44 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.76 annualized dividend and a dividend yield of 2.63%. This is a boost from Dover Corp.’s previous quarterly dividend of $0.42. Dover Corp.’s payout ratio is currently 50.29%.
In other 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 value of $129,834.00. Following the completion of the transaction, the vice president now owns 11,778 shares in the company, valued at $849,547.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP C. Anderson Fincher sold 1,420 shares of the business’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $73.42, for a total value of $104,256.40. Following the completion of the transaction, the vice president now owns 40,326 shares of the company’s stock, valued at approximately $2,960,734.92. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Mizuho Asset Management Co. Ltd. boosted its position in Dover Corp. by 65.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,038 shares of the company’s stock valued at $141,000 after buying an additional 803 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in Dover Corp. during the second quarter valued at $143,000. Hallmark Capital Management Inc. acquired a new position in Dover Corp. during the second quarter valued at $149,000. Feltz Wealth PLAN Inc. acquired a new position in Dover Corp. during the second quarter valued at $150,000. Finally, Trust Department MB Financial Bank N A boosted its position in Dover Corp. by 67.0% in the second quarter. Trust Department MB Financial Bank N A now owns 2,567 shares of the company’s stock valued at $180,000 after buying an additional 1,030 shares in the last quarter. Hedge funds and other institutional investors own 85.59% 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.
Receive News & Ratings for Dover Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover Corp. and related companies with MarketBeat.com's FREE daily email newsletter.