Shares of Dover Corporation (NYSE:DOV) reached a new 52-week high during trading on Tuesday after Morgan Stanley raised their price target on the stock from $95.00 to $97.00. Morgan Stanley currently has an overweight rating on the stock. Dover Corporation traded as high as $91.14 and last traded at $91.20, with a volume of 392,858 shares trading hands. The stock had previously closed at $90.05.
Several other analysts have also recently commented on DOV. Zacks Investment Research cut Dover Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Robert W. Baird reissued a “buy” rating and issued a $95.00 price target on shares of Dover Corporation in a report on Tuesday, September 12th. Seaport Global Securities reissued a “neutral” rating on shares of Dover Corporation in a report on Wednesday, September 13th. BidaskClub cut Dover Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Dover Corporation in a report on Wednesday, June 7th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $90.00.
In other Dover Corporation news, Director Michael B. Stubbs sold 25,000 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the completion of the transaction, the director now owns 275,344 shares of the company’s stock, valued at $23,965,941.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in DOV. IFP Advisors Inc increased its position in Dover Corporation by 15.1% during 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 increased its position in Dover Corporation by 5,446.9% during 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. Penserra Capital Management LLC increased its position in Dover Corporation by 9.5% during 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. First Mercantile Trust Co. increased its position in Dover Corporation by 10.1% during the second quarter. First Mercantile Trust Co. now owns 2,327 shares of the industrial products company’s stock worth $187,000 after buying an additional 213 shares in the last quarter. Finally, Dixon Hubard Feinour & Brown Inc. VA purchased a new position in Dover Corporation during the first quarter worth $200,000. 86.01% of the stock is owned by institutional investors.
The firm has a 50-day moving average of $85.86 and a 200-day moving average of $82.11. The company has a market capitalization of $14.19 billion, a P/E ratio of 22.78 and a beta of 1.26.
Dover Corporation (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.03. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.94 billion. Dover Corporation had a net margin of 8.61% and a return on equity of 13.36%. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 EPS. On average, analysts forecast that Dover Corporation will post $4.29 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.88 dividend on an annualized basis and a yield of 2.09%. This is an increase from Dover Corporation’s previous quarterly dividend of $0.44. Dover Corporation’s payout ratio is currently 47.12%.
TRADEMARK VIOLATION NOTICE: This news story was reported by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this news story on another publication, it was illegally stolen and republished in violation of United States & international copyright & trademark law. The correct version of this news story can be viewed at https://stocknewstimes.com/2017/09/19/dover-corporation-dov-sets-new-1-year-high-following-analyst-upgrade.html.
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.
Receive News & Ratings for Dover Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover Corporation and related companies with MarketBeat.com's FREE daily email newsletter.