BidaskClub lowered shares of Dover Corporation (NYSE:DOV) from a buy rating to a hold rating in a research note released on Monday, July 24th.
A number of other equities analysts have also recently issued reports on the stock. Citigroup Inc. increased their price objective on shares of Dover Corporation from $88.00 to $90.00 and gave the company a neutral rating in a research note on Friday, July 21st. Stifel Nicolaus increased their price objective on shares of Dover Corporation from $88.00 to $91.00 and gave the company a hold rating in a research note on Friday, July 21st. Zacks Investment Research upgraded shares of Dover Corporation from a hold rating to a buy rating and set a $95.00 price objective for the company in a research note on Tuesday, July 18th. Royal Bank Of Canada reiterated an outperform rating and set a $90.00 target price (up previously from $89.00) on shares of Dover Corporation in a research report on Thursday, July 6th. Finally, Seaport Global Securities cut shares of Dover Corporation from a buy rating to a neutral rating and dropped their target price for the stock from $91.00 to $86.00 in a research report on Wednesday, June 21st. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $87.73.
Dover Corporation (NYSE DOV) traded down 0.54% during midday trading on Monday, reaching $85.05. The company’s stock had a trading volume of 863,450 shares. Dover Corporation has a 52 week low of $65.50 and a 52 week high of $87.63. The firm has a market capitalization of $13.25 billion, a P/E ratio of 21.26 and a beta of 1.27. The company’s 50-day moving average is $83.36 and its 200 day moving average is $80.94.
Dover Corporation (NYSE:DOV) last issued its quarterly 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 net margin of 8.61% and a return on equity of 13.36%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm earned $0.76 EPS. 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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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a dividend of $0.47 per share. This is a positive change from Dover Corporation’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.88 annualized dividend and a yield of 2.21%. Dover Corporation’s dividend payout ratio (DPR) is presently 44.11%.
In other Dover Corporation news, Director Michael B. Stubbs sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the sale, the director now directly owns 275,344 shares in the company, valued at approximately $23,965,941.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael B. Stubbs sold 40,000 shares of Dover Corporation stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $83.22, for a total transaction of $3,328,800.00. Following the completion of the sale, the director now owns 275,344 shares in the company, valued at $22,914,127.68. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. National Pension Service increased its stake in Dover Corporation by 0.8% in the first quarter. National Pension Service now owns 145,970 shares of the industrial products company’s stock worth $11,688,000 after buying an additional 1,220 shares during the period. Gulf International Bank UK Ltd increased its stake in Dover Corporation by 1.7% in the first quarter. Gulf International Bank UK Ltd now owns 48,908 shares of the industrial products company’s stock worth $3,929,000 after buying an additional 800 shares during the period. Contravisory Investment Management Inc. increased its stake in Dover Corporation by 7,073.9% in the first quarter. Contravisory Investment Management Inc. now owns 3,300 shares of the industrial products company’s stock worth $265,000 after buying an additional 3,254 shares during the period. Chevy Chase Trust Holdings Inc. increased its stake in Dover Corporation by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 140,055 shares of the industrial products company’s stock worth $11,253,000 after buying an additional 4,217 shares during the period. Finally, Macquarie Group Ltd. increased its stake in Dover Corporation by 2.6% in the fourth quarter. Macquarie Group Ltd. now owns 3,900 shares of the industrial products company’s stock worth $292,000 after buying an additional 100 shares during the period. Institutional investors own 85.31% 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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