Shares of Dover Corp. (NYSE:DOV) have received an average recommendation of “Hold” from the twenty ratings firms that are covering the company. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $71.00.
DOV has been the topic of several analyst reports. Zacks Investment Research cut shares of Dover Corp. from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Sanford C. Bernstein restated an “outperform” rating on shares of Dover Corp. in a report on Monday, June 27th. Barclays PLC boosted their price target on shares of Dover Corp. from $65.00 to $71.00 and gave the stock an “equal weight” rating in a report on Monday, July 18th. Bank of America Corp. restated a “buy” rating and set a $85.00 price target on shares of Dover Corp. in a report on Thursday. Finally, Susquehanna initiated coverage on shares of Dover Corp. in a report on Friday. They set a “neutral” rating and a $77.00 price target on the stock.
In other Dover Corp. news, VP C. Anderson Fincher sold 1,420 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The shares were 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Paul Goldberg sold 1,800 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 11,778 shares of the company’s stock, valued at approximately $849,547.14. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in DOV. Vanguard Group Inc. boosted its stake in shares of Dover Corp. by 2.8% in the second quarter. Vanguard Group Inc. now owns 14,555,176 shares of the company’s stock worth $1,008,965,000 after buying an additional 393,727 shares during the period. Franklin Resources Inc. boosted its stake in shares of Dover Corp. by 0.9% in the first quarter. Franklin Resources Inc. now owns 6,692,483 shares of the company’s stock worth $430,527,000 after buying an additional 56,874 shares during the period. Pzena Investment Management LLC boosted its stake in shares of Dover Corp. by 1.0% in the second quarter. Pzena Investment Management LLC now owns 6,194,201 shares of the company’s stock worth $429,382,000 after buying an additional 59,245 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Dover Corp. by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,002,956 shares of the company’s stock worth $257,510,000 after buying an additional 16,700 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Dover Corp. by 21.6% in the second quarter. Bank of New York Mellon Corp now owns 3,272,919 shares of the company’s stock worth $226,877,000 after buying an additional 580,562 shares during the period. 85.59% of the stock is owned by institutional investors and hedge funds.
Shares of Dover Corp. (NYSE:DOV) opened at 72.24 on Tuesday. The firm has a market cap of $11.21 billion, a price-to-earnings ratio of 20.78 and a beta of 1.25. The company’s 50 day moving average is $71.63 and its 200 day moving average is $69.10. Dover Corp. has a 52-week low of $50.91 and a 52-week high of $74.90.
Dover Corp. (NYSE:DOV) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.76 earnings per share for the quarter, missing the 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 firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the firm posted $0.98 earnings per share. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. Analysts anticipate that Dover Corp. will post $3.34 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date was Monday, August 29th. This is a boost from Dover Corp.’s previous quarterly dividend of $0.42. Dover Corp.’s payout ratio is currently 50.29%.
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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