Dover Corp. (DOV) Given a $68.00 Price Target at Barclays PLC
Other research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Dover Corp. from a hold rating to a buy rating and set a $81.00 target price on the stock in a research report on Wednesday, October 5th. Bank of America Corp. restated a buy rating and set a $85.00 target price on shares of Dover Corp. in a research report on Thursday, October 6th. Citigroup Inc. cut their target price on shares of Dover Corp. from $76.00 to $72.00 and set a neutral rating on the stock in a research report on Tuesday. Susquehanna assumed coverage on shares of Dover Corp. in a research report on Friday, October 7th. They issued a neutral rating and a $77.00 price target on the stock. Finally, Sanford C. Bernstein reiterated an outperform rating on shares of Dover Corp. in a research report on Monday, June 27th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $72.19.
Dover Corp. (NYSE:DOV) traded up 0.28% during mid-day trading on Tuesday, hitting $67.10. 682,375 shares of the company’s stock were exchanged. The stock has a market capitalization of $10.41 billion, a P/E ratio of 19.30 and a beta of 1.25. Dover Corp. has a 52 week low of $50.91 and a 52 week high of $74.90. The firm has a 50 day moving average of $71.20 and a 200 day moving average of $69.15.
Dover Corp. (NYSE:DOV) last released its earnings results on Thursday, July 21st. The company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by $0.09. Dover Corp. had a net margin of 8.03% and a return on equity of 14.27%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities analysts forecast that Dover Corp. will post $3.34 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors 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 2.63%. The ex-dividend date of this dividend was Monday, August 29th. This is an increase from Dover Corp.’s previous quarterly dividend of $0.42. Dover Corp.’s payout ratio is 50.29%.
In other Dover Corp. news, VP Paul Goldberg sold 1,800 shares of Dover Corp. stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $72.13, for a total value of $129,834.00. Following 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 SEC, which is accessible through this hyperlink. Also, VP C. Anderson Fincher sold 1,420 shares of Dover Corp. stock in a transaction dated 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 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 owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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 in the last quarter. Tower Research Capital LLC TRC acquired a new position in Dover Corp. during the second quarter worth about $143,000. Hallmark Capital Management Inc. acquired a new position in Dover Corp. during the second quarter worth about $149,000. Feltz Wealth PLAN Inc. acquired 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 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.
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