BidaskClub cut shares of Dover Corporation (NYSE:DOV) from a buy rating to a hold rating in a research report released on Monday, July 24th.
A number of other research analysts also recently weighed in on DOV. Morgan Stanley raised Dover Corporation from an equal weight rating to an overweight rating and increased their target price for the company from $85.00 to $90.00 in a report on Monday, April 3rd. Citigroup Inc. increased their target price on Dover Corporation from $84.00 to $87.00 and gave the company a neutral rating in a report on Tuesday, April 11th. Barclays PLC increased their target price on Dover Corporation from $78.00 to $79.00 and gave the company an equal weight rating in a report on Wednesday, April 19th. Stifel Nicolaus increased their target price on Dover Corporation from $85.00 to $87.00 and gave the company a hold rating in a report on Friday, April 21st. Finally, Edward Jones downgraded Dover Corporation from a buy rating to a hold rating in a report on Saturday, April 22nd. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $87.73.
Shares of Dover Corporation (NYSE DOV) traded up 0.09% during midday trading on Monday, reaching $86.54. The company had a trading volume of 2,406,304 shares. Dover Corporation has a 12-month low of $65.50 and a 12-month high of $87.23. The company has a 50 day moving average of $82.25 and a 200 day moving average of $80.55. The firm has a market capitalization of $13.48 billion, a price-to-earnings ratio of 21.64 and a beta of 1.27.
Dover Corporation (NYSE:DOV) last posted its earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the company earned $0.76 earnings per share. Dover Corporation’s revenue was up 18.2% on a year-over-year basis. Analysts anticipate that Dover Corporation will post $4.31 EPS for the current year.
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In related news, VP C. Anderson Fincher sold 15,638 shares of the stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $79.85, for a total transaction of $1,248,694.30. Following the completion of the sale, the vice president now owns 32,842 shares in the company, valued at $2,622,433.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael B. Stubbs sold 40,000 shares of the 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 sale, the director now owns 275,344 shares of the company’s stock, valued at approximately $22,914,127.68. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC boosted its position in Dover Corporation by 0.3% in the second quarter. Pzena Investment Management LLC now owns 5,599,307 shares of the industrial products company’s stock valued at $449,176,000 after buying an additional 17,738 shares in the last quarter. Cadence Capital Management LLC boosted its position in Dover Corporation by 5.7% in the second quarter. Cadence Capital Management LLC now owns 19,079 shares of the industrial products company’s stock valued at $1,531,000 after buying an additional 1,024 shares in the last quarter. Knowledge Leaders Capital LLC boosted its position in Dover Corporation by 0.8% in the second quarter. Knowledge Leaders Capital LLC now owns 68,704 shares of the industrial products company’s stock valued at $5,511,000 after buying an additional 524 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in Dover Corporation by 0.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 230,239 shares of the industrial products company’s stock valued at $18,470,000 after buying an additional 1,426 shares in the last quarter. Finally, Marshall Wace North America L.P. boosted its position in Dover Corporation by 58.1% in the second quarter. Marshall Wace North America L.P. now owns 128,725 shares of the industrial products company’s stock valued at $10,298,000 after buying an additional 47,321 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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