Dover Corp. (DOV) Given Average Recommendation of “Hold” by Brokerages
Shares of Dover Corp. (NYSE:DOV) have received an average recommendation of “Hold” from the twenty-one brokerages that are covering the company. Two analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $70.60.
Several research firms have weighed in on DOV. Barclays PLC raised their target price on Dover Corp. from $65.00 to $71.00 and gave the company an “equal weight” rating in a report on Monday, July 18th. Citigroup Inc. cut their target price on Dover Corp. from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Tuesday, October 11th. Zacks Investment Research lowered Dover Corp. from a “buy” rating to a “hold” rating in a report on Thursday, October 6th. Stifel Nicolaus raised their target price on Dover Corp. from $65.00 to $72.00 and gave the company a “hold” rating in a report on Thursday, October 20th. Finally, Susquehanna began coverage on Dover Corp. in a report on Friday, October 7th. They set a “neutral” rating and a $77.00 target price on the stock.
In other news, VP Sandra A. Arkell sold 565 shares of Dover Corp. stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $68.73, for a total value of $38,832.45. Following the completion of the transaction, the vice president now owns 2,216 shares in the company, valued at $152,305.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of DOV. Bank of Montreal Can purchased a new position in Dover Corp. during the second quarter worth about $116,346,000. TIAA CREF Investment Management LLC boosted its position in Dover Corp. by 88.9% in the third quarter. TIAA CREF Investment Management LLC now owns 1,811,300 shares of the company’s stock worth $133,384,000 after buying an additional 852,328 shares during the period. JPMorgan Chase & Co. boosted its position in Dover Corp. by 22.0% in the third quarter. JPMorgan Chase & Co. now owns 3,649,354 shares of the company’s stock worth $268,738,000 after buying an additional 656,989 shares during the period. Bank of New York Mellon Corp boosted its position in 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. Finally, Lord Abbett & CO. LLC boosted its position in Dover Corp. by 130.1% in the second quarter. Lord Abbett & CO. LLC now owns 933,861 shares of the company’s stock worth $64,736,000 after buying an additional 527,939 shares during the period. Institutional investors own 85.40% of the company’s stock.
Shares of Dover Corp. (NYSE:DOV) opened at 70.94 on Tuesday. The firm has a market cap of $11.02 billion, a PE ratio of 22.72 and a beta of 1.18. Dover Corp. has a 52 week low of $50.91 and a 52 week high of $74.90. The firm’s 50-day moving average price is $69.06 and its 200 day moving average price is $69.56.
Dover Corp. (NYSE:DOV) last announced its quarterly earnings data on Wednesday, October 19th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.01. Dover Corp. had a return on equity of 12.93% and a net margin of 7.29%. The business earned $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the company earned $1.14 earnings per share. Dover Corp.’s quarterly revenue was down 4.5% compared to the same quarter last year. Equities analysts anticipate that Dover Corp. will post $3.02 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Monday, November 28th. Dover Corp.’s dividend payout ratio (DPR) is currently 56.05%.
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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