Dover Corporation (NYSE:DOV) - Equities research analysts at William Blair raised their Q3 2017 earnings per share (EPS) estimates for Dover Corporation in a report issued on Thursday. William Blair analyst N. Heymann now forecasts that the industrial products company will earn $1.10 per share for the quarter, up from their previous forecast of $1.08. William Blair also issued estimates for Dover Corporation’s FY2018 earnings at $4.55 EPS.
DOV has been the topic of a number of other reports. Morgan Stanley raised Dover Corporation from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $85.00 to $90.00 in a report on Monday, April 3rd. Zacks Investment Research raised Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a report on Tuesday, July 18th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $89.00 price objective (up from $86.00) on shares of Dover Corporation in a report on Sunday, April 23rd. Edward Jones downgraded Dover Corporation from a “buy” rating to a “hold” rating in a report on Saturday, April 22nd. Finally, Seaport Global Securities reaffirmed a “buy” rating on shares of Dover Corporation in a report on Monday, June 5th. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Dover Corporation has an average rating of “Hold” and an average target price of $87.73.
Shares of Dover Corporation (DOV) opened at 84.28 on Monday. The stock’s 50 day moving average price is $82.08 and its 200-day moving average price is $80.30. Dover Corporation has a 12 month low of $65.50 and a 12 month high of $85.31. The firm has a market capitalization of $13.13 billion, a PE ratio of 21.07 and a beta of 1.27.
Dover Corporation (NYSE:DOV) last released its earnings results on Thursday, July 20th. The industrial products company reported $1.04 EPS for the quarter, topping 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 last year, the business posted $0.76 EPS. Dover Corporation’s quarterly revenue was up 18.2% compared to the same quarter last year.
In related news, Director Michael B. Stubbs sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $83.22, for a total value of $3,328,800.00. Following the completion of the transaction, the director now owns 275,344 shares in the company, valued at approximately $22,914,127.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP C. Anderson Fincher sold 15,638 shares of the business’s stock in a transaction that occurred on 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 transaction, the vice president now owns 32,842 shares of the company’s stock, valued at approximately $2,622,433.70. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Farmers National Bank boosted its position in Dover Corporation by 0.3% in the first quarter. Farmers National Bank now owns 2,988 shares of the industrial products company’s stock valued at $220,000 after buying an additional 10 shares during the period. Cleararc Capital Inc. boosted its position in Dover Corporation by 0.4% in the first quarter. Cleararc Capital Inc. now owns 3,799 shares of the industrial products company’s stock valued at $305,000 after buying an additional 15 shares during the period. Contravisory Investment Management Inc. boosted its position in Dover Corporation by 0.7% in the second quarter. Contravisory Investment Management Inc. now owns 3,323 shares of the industrial products company’s stock valued at $267,000 after buying an additional 23 shares during the period. Patten Group Inc. boosted its position in Dover Corporation by 0.5% in the first quarter. Patten Group Inc. now owns 5,207 shares of the industrial products company’s stock valued at $417,000 after buying an additional 25 shares during the period. Finally, Diversified Trust Co boosted its position in Dover Corporation by 0.8% in the first quarter. Diversified Trust Co now owns 4,554 shares of the industrial products company’s stock valued at $366,000 after buying an additional 37 shares during the period. Hedge funds and other institutional investors own 84.67% 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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