Royal Bank Of Canada Reiterates “Outperform” Rating for Dover Corporation (DOV)
Dover Corporation (NYSE:DOV)‘s stock had its “outperform” rating restated by Royal Bank Of Canada in a report issued on Thursday, July 6th. They presently have a $90.00 target price on the industrial products company’s stock, up from their previous target price of $89.00. Royal Bank Of Canada’s price objective would suggest a potential upside of 4.00% from the company’s previous close.
DOV has been the topic of several other research reports. Morgan Stanley raised Dover Corporation from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $85.00 to $90.00 in a research report on Monday, April 3rd. Edward Jones cut Dover Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, April 22nd. Seaport Global Securities reissued a “buy” rating on shares of Dover Corporation in a research report on Monday, June 5th. Barclays PLC upped their price target on Dover Corporation from $78.00 to $79.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 19th. Finally, Bank of America Corporation upped their price target on Dover Corporation from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, June 9th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $87.73.
Shares of Dover Corporation (NYSE DOV) traded up 0.09% on Thursday, reaching $86.54. 2,406,304 shares of the company traded hands. The firm’s 50 day moving average is $82.25 and its 200 day moving average is $80.55. Dover Corporation has a one year low of $65.50 and a one year high of $87.23. The company has a market capitalization of $13.48 billion, a P/E ratio of 21.64 and a beta of 1.27.
Dover Corporation (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 20th. The industrial products company reported $1.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.03. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The business’s revenue was up 18.2% on a year-over-year basis. Analysts expect that Dover Corporation will post $4.31 earnings per share for the current fiscal year.
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In other Dover Corporation news, Director Michael B. Stubbs sold 40,000 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $83.22, for a total value of $3,328,800.00. Following the transaction, the director now directly owns 275,344 shares in the company, valued at approximately $22,914,127.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP C. Anderson Fincher sold 15,638 shares of the company’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $79.85, for a total value of $1,248,694.30. Following the completion of the transaction, the vice president now owns 32,842 shares in the company, valued at $2,622,433.70. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. First Bank & Trust raised its position in shares of Dover Corporation by 15.5% in the first quarter. First Bank & Trust now owns 1,326 shares of the industrial products company’s stock worth $106,000 after buying an additional 178 shares in the last quarter. Ledyard National Bank raised its position in shares of Dover Corporation by 421.1% in the first quarter. Ledyard National Bank now owns 1,485 shares of the industrial products company’s stock worth $119,000 after buying an additional 1,200 shares in the last quarter. IFP Advisors Inc raised its position in shares of Dover Corporation by 15.1% in the second quarter. IFP Advisors Inc now owns 1,728 shares of the industrial products company’s stock worth $139,000 after buying an additional 227 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Dover Corporation by 5,446.9% in the first quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock worth $143,000 after buying an additional 1,743 shares in the last quarter. Finally, Penserra Capital Management LLC raised its position in shares of Dover Corporation by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,978 shares of the industrial products company’s stock worth $158,000 after buying an additional 172 shares in the last quarter. Institutional investors and hedge funds own 84.52% of the company’s stock.
Dover Corporation Company Profile
Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.
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