Q3 2017 EPS Estimates for Dover Corp. (DOV) Increased by Analyst
Dover Corp. (NYSE:DOV) – William Blair boosted their Q3 2017 earnings per share estimates for shares of Dover Corp. in a note issued to investors on Monday. William Blair analyst N. Heymann now anticipates that the brokerage will post earnings of $1.07 per share for the quarter, up from their prior estimate of $1.06. William Blair also issued estimates for Dover Corp.’s Q4 2017 earnings at $1.06 EPS.
Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded Dover Corp. from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a report on Wednesday, October 5th. Bank of America Corp. restated a “buy” rating and set a $85.00 price target on shares of Dover Corp. in a report on Thursday, October 6th. Stifel Nicolaus raised their price target on Dover Corp. from $65.00 to $72.00 and gave the company a “hold” rating in a report on Thursday, October 20th. Barclays PLC set a $68.00 price target on Dover Corp. and gave the company a “hold” rating in a report on Tuesday, October 11th. Finally, Citigroup Inc. reduced their price target on Dover Corp. from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Tuesday, October 11th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. Dover Corp. currently has a consensus rating of “Hold” and a consensus target price of $72.18.
Dover Corp. (NYSE:DOV) opened at 70.67 on Wednesday. Dover Corp. has a 12-month low of $50.91 and a 12-month high of $74.90. The firm’s 50-day moving average is $69.20 and its 200 day moving average is $69.69. The company has a market cap of $10.98 billion, a price-to-earnings ratio of 22.64 and a beta of 1.18.
Dover Corp. (NYSE:DOV) last released its quarterly earnings results on Wednesday, October 19th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. Dover Corp. had a net margin of 7.29% and a return on equity of 12.93%. Dover Corp.’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 EPS.
A number of hedge funds and other institutional investors have recently made changes to their positions in DOV. PGGM Investments increased its position in shares of Dover Corp. by 12.0% in the second quarter. PGGM Investments now owns 588,341 shares of the company’s stock valued at $40,784,000 after buying an additional 63,049 shares during the period. Bank of New York Mellon Corp raised its stake in shares of 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 valued at $226,877,000 after buying an additional 580,562 shares during the period. Rainier Investment Management LLC acquired a new stake in shares of Dover Corp. during the second quarter valued at $11,999,000. BB&T Corp raised its stake in shares of Dover Corp. by 5,871.5% in the second quarter. BB&T Corp now owns 198,733 shares of the company’s stock valued at $13,776,000 after buying an additional 195,405 shares during the period. Finally, Diligent Investors LLC raised its stake in shares of Dover Corp. by 1.3% in the second quarter. Diligent Investors LLC now owns 11,375 shares of the company’s stock valued at $788,000 after buying an additional 151 shares during the period. Hedge funds and other institutional investors own 85.22% of the company’s stock.
In related news, VP Sandra A. Arkell sold 565 shares of Dover Corp. stock in a transaction 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 transaction, the vice president now owns 2,216 shares in the company, valued at approximately $152,305.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jay L. Kloosterboer sold 11,501 shares of Dover Corp. stock in a transaction on Monday, November 14th. The stock was sold at an average price of $70.25, for a total transaction of $807,945.25. Following the completion of the transaction, the insider now owns 64,615 shares in the company, valued at approximately $4,539,203.75. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be given a $0.44 dividend. The ex-dividend date is Monday, November 28th. This represents a $1.76 dividend on an annualized basis and a yield of 2.49%. Dover Corp.’s payout ratio is currently 56.05%.
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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