Dover Corp. (NYSE:DOV) Receives $69.77 Consensus Price Target from Brokerages
Shares of Dover Corp. (NYSE:DOV) have earned a consensus recommendation of “Hold” from the nineteen research firms that are currently covering the firm. One equities research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $70.54.
Several analysts have commented on DOV shares. Zacks Investment Research downgraded shares of Dover Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, September 21st. Bank of America Corp. restated a “buy” rating and set a $85.00 target price on shares of Dover Corp. in a report on Thursday. Barclays PLC raised their target price 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. Finally, Sanford C. Bernstein upgraded shares of Dover Corp. from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $75.00 to $87.00 in a report on Friday, June 10th.
Shares of Dover Corp. (NYSE:DOV) opened at 73.69 on Tuesday. The firm has a 50-day moving average of $71.68 and a 200-day moving average of $69.06. Dover Corp. has a one year low of $50.91 and a one year high of $74.90. The company has a market capitalization of $11.44 billion, a P/E ratio of 21.19 and a beta of 1.25.
Dover Corp. (NYSE:DOV) last announced its earnings results on Thursday, July 21st. The company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.85 by $0.09. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.71 billion. Dover Corp. had a return on equity of 14.27% and a net margin of 8.03%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the business posted $0.98 earnings per share. Equities research analysts expect that Dover Corp. will post $3.34 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.39%. This is a boost from Dover Corp.’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, August 29th. Dover Corp.’s payout ratio is 50.29%.
In other Dover Corp. news, VP William Spurgeon sold 17,170 shares of Dover Corp. stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $71.65, for a total transaction of $1,230,230.50. Following the completion of the transaction, the vice president now directly owns 59,163 shares of the company’s stock, valued at $4,239,028.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP C. Anderson Fincher sold 1,420 shares of Dover Corp. stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $73.42, for a total transaction of $104,256.40. Following the transaction, the vice president now directly owns 40,326 shares of the company’s stock, valued at $2,960,734.92. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in 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 worth $141,000 after buying an additional 803 shares during the period. Tower Research Capital LLC TRC acquired a new stake in shares of Dover Corp. during the second quarter worth about $143,000. Hallmark Capital Management Inc. acquired a new stake in shares of Dover Corp. during the second quarter worth about $149,000. Feltz Wealth PLAN Inc. acquired a new stake in shares of Dover Corp. during the second quarter worth about $150,000. Finally, Trust Department MB Financial Bank N A boosted its stake in shares of 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 worth $180,000 after buying an additional 1,030 shares during the last quarter. 85.59% of the stock is owned by hedge funds and other institutional investors.
About Dover Corp.
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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