Dover Corp. (DOV) Now Covered by Analysts at Susquehanna
DOV has been the topic of a number of other research reports. Barclays PLC increased their price objective on shares of Dover Corp. from $65.00 to $71.00 and gave the stock an equal weight rating in a research report on Monday, July 18th. Zacks Investment Research cut shares of Dover Corp. from a buy rating to a hold rating in a research report on Thursday. Sanford C. Bernstein raised shares of Dover Corp. from a market perform rating to an outperform rating and increased their price objective for the stock from $75.00 to $87.00 in a research report on Friday, June 10th. Finally, Bank of America Corp. reissued a buy rating and set a $85.00 price objective on shares of Dover Corp. in a research report on Thursday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $72.63.
Shares of Dover Corp. (NYSE:DOV) traded down 6.89% during trading on Friday, reaching $67.26. The company’s stock had a trading volume of 2,351,924 shares. Dover Corp. has a 12 month low of $50.91 and a 12 month high of $74.90. The firm has a market cap of $10.44 billion, a PE ratio of 19.34 and a beta of 1.25. The stock’s 50 day moving average price is $71.63 and its 200-day moving average price is $69.10.
Dover Corp. (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.76 EPS for the quarter, missing the Zacks’ consensus estimate of $0.85 by $0.09. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.71 billion. Dover Corp. had a net margin of 8.03% and a return on equity of 14.27%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same period last year, the company posted $0.98 EPS. Equities analysts predict that Dover Corp. will post $3.34 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given 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 dividend payout ratio (DPR) is presently 50.29%.
In other Dover Corp. news, CEO Robert Livingston sold 25,927 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP C. Anderson Fincher sold 1,420 shares of the business’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $73.42, for a total transaction of $104,256.40. Following the completion of the transaction, the vice president now owns 40,326 shares in the company, valued at approximately $2,960,734.92. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in DOV. 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 last quarter. Tower Research Capital LLC TRC purchased a new position in Dover Corp. during the second quarter worth about $143,000. Hallmark Capital Management Inc. purchased a new position in Dover Corp. during the second quarter worth about $149,000. Feltz Wealth PLAN Inc. purchased a new position in Dover Corp. during the second quarter worth about $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 worth $180,000 after buying an additional 1,030 shares during the last quarter. Hedge funds and other institutional investors own 85.59% of the company’s stock.
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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