Dover Corp. Now Covered by Bank of America (DOV)
Stock analysts at Bank of America initiated coverage on shares of Dover Corp. (NYSE:DOV) in a report issued on Wednesday. The firm set a “neutral” rating and a $76.00 price target on the stock. Bank of America’s price objective points to a potential downside of 12.65% from the company’s current price.
Dover Corp. (NYSE:DOV) traded up 1.16% during mid-day trading on Wednesday, hitting $87.01. 514,728 shares of the company’s stock traded hands. Dover Corp. has a 52-week low of $62.722 and a 52-week high of $87.39. The stock’s 50-day moving average is $85.06 and its 200-day moving average is $79.04. The company has a market cap of $14.486 billion and a P/E ratio of 15.57.
Dover Corp. (NYSE:DOV) last announced its earnings results on Thursday, April 17th. The company reported $1.01 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.03 by $0.02. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the company posted $1.10 earnings per share. Dover Corp.’s revenue was up 6.8% compared to the same quarter last year. On average, analysts predict that Dover Corp. will post $4.81 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Wednesday, May 28th.
In other Dover Corp. news, VP Sivasankaran Somasundaram unloaded 4,000 shares of Dover Corp. stock on the open market in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $86.81, for a total value of $347,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Dover Corporation (NYSE:DOV) manufactures a range of specialized products and components and also offers related services and consumables.
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