A number of other equities analysts have also commented on the company. BMO Capital Markets began coverage on Dover Corp in a report on Wednesday, February 22nd. They issued a market perform rating and a $82.00 price target for the company. Morgan Stanley raised Dover Corp from an equal weight rating to an overweight rating and raised their price target for the stock from $85.00 to $90.00 in a report on Monday, April 3rd. Royal Bank of Canada set a $73.00 price target on Dover Corp and gave the stock a hold rating in a report on Thursday, January 26th. Stifel Nicolaus raised their price target on Dover Corp from $76.00 to $85.00 and gave the stock a hold rating in a report on Friday, January 27th. Finally, Langenberg & Company raised Dover Corp from a sell rating to a hold rating in a report on Monday, January 30th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $82.42.
Dover Corp (NYSE:DOV) opened at 78.52 on Tuesday. Dover Corp has a 1-year low of $62.89 and a 1-year high of $82.56. The firm’s 50-day moving average price is $79.45 and its 200 day moving average price is $75.39. The stock has a market cap of $12.21 billion, a PE ratio of 24.16 and a beta of 1.18.
Dover Corp (NYSE:DOV) last issued its quarterly earnings data on Thursday, January 26th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.95 by $0.24. The company earned $1.80 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Dover Corp had a return on equity of 12.35% and a net margin of 7.49%. The business’s revenue for the quarter was down 89.5% compared to the same quarter last year. During the same period last year, the company earned $0.81 earnings per share. Equities research analysts expect that Dover Corp will post $3.60 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th were given a dividend of $0.44 per share. The ex-dividend date was Friday, February 24th. This represents a $1.76 annualized dividend and a yield of 2.24%. Dover Corp’s payout ratio is 53.99%.
In other Dover Corp news, Director Michael B. Stubbs sold 20,000 shares of Dover Corp stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $80.30, for a total transaction of $1,606,000.00. Following the sale, the director now directly owns 277,194 shares of the company’s stock, valued at approximately $22,258,678.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Sandra A. Arkell sold 1,850 shares of Dover Corp stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $79.94, for a total value of $147,889.00. Following the sale, the vice president now directly owns 10,742 shares in the company, valued at $858,715.48. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. FNY Partners Fund LP purchased a new stake in Dover Corp during the fourth quarter valued at $112,000. Johnson Financial Group Inc. boosted its stake in Dover Corp by 2.6% in the fourth quarter. Johnson Financial Group Inc. now owns 1,556 shares of the company’s stock valued at $117,000 after buying an additional 40 shares during the last quarter. Fred Alger Management Inc. acquired a new position in Dover Corp during the fourth quarter valued at about $172,000. Blenheim Capital Management BV acquired a new position in Dover Corp during the fourth quarter valued at about $189,000. Finally, Leavell Investment Management Inc. acquired a new position in Dover Corp during the third quarter valued at about $200,000. 84.57% of the stock is currently owned by institutional investors and hedge funds.
About Dover Corp
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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