Dover Corp. (NYSE:DOV) posted its earnings results on Wednesday. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by $0.19. Dover Corp. had a net margin of 8.03% and a return on equity of 14.27%.

Shares of Dover Corp. (NYSE:DOV) opened at 67.54 on Wednesday. The stock has a 50 day moving average of $70.29 and a 200-day moving average of $69.26. The firm has a market capitalization of $10.48 billion, a P/E ratio of 19.42 and a beta of 1.25. Dover Corp. has a 1-year low of $50.91 and a 1-year high of $74.90.

Earnings History for Dover Corp. (NYSE:DOV)

A number of research analysts have weighed in on the company. Bank of America Corp. reissued a “buy” rating and set a $85.00 price target on shares of Dover Corp. in a research note on Thursday, October 6th. Zacks Investment Research raised Dover Corp. from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a research note on Wednesday, October 5th. Barclays PLC increased their price target on Dover Corp. from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Monday, July 18th. 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 note on Tuesday, October 11th. Finally, Susquehanna assumed coverage on Dover Corp. in a research note on Friday, October 7th. They set a “neutral” rating and a $77.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $72.19.

In other Dover Corp. news, CEO Robert Livingston sold 25,927 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $69.24, for a total transaction of $1,795,185.48. Following the sale, the chief executive officer now directly owns 192,630 shares of the company’s stock, valued at $13,337,701.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP William Spurgeon sold 17,170 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 59,163 shares in the company, valued at $4,239,028.95. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Advantus Capital Management Inc increased its stake in Dover Corp. by 0.8% in the second quarter. Advantus Capital Management Inc now owns 14,997 shares of the company’s stock valued at $1,040,000 after buying an additional 115 shares during the period. Mackenzie Financial Corp increased its stake in Dover Corp. by 2.0% in the second quarter. Mackenzie Financial Corp now owns 11,351 shares of the company’s stock valued at $787,000 after buying an additional 227 shares during the period. Thrivent Financial for Lutherans increased its stake in Dover Corp. by 5.3% in the second quarter. Thrivent Financial for Lutherans now owns 4,770 shares of the company’s stock valued at $331,000 after buying an additional 240 shares during the period. Pacer Advisors Inc. increased its stake in Dover Corp. by 10.4% in the second quarter. Pacer Advisors Inc. now owns 3,106 shares of the company’s stock valued at $215,000 after buying an additional 292 shares during the period. Finally, Veritable L.P. increased its stake in Dover Corp. by 11.3% in the second quarter. Veritable L.P. now owns 4,044 shares of the company’s stock valued at $280,000 after buying an additional 410 shares during the period. 85.56% of the stock is currently owned by institutional investors and hedge funds.

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.

5 Day Chart for NYSE:DOV

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