Dover Corp. PT Lowered to $66.00 (DOV)
Stock analysts at JPMorgan Chase & Co. decreased their price objective on shares of Dover Corp. (NYSE:DOV) from $67.00 to $66.00 in a report issued on Thursday. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s target price would suggest a potential downside of 24.15% from the stock’s previous close.
In other Dover Corp. news, VP Sivasankaran Somasundaram unloaded 4,000 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $86.81, for a total transaction of $347,240.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Dover Corp. (NYSE:DOV) traded up 1.16% during mid-day trading on Thursday, hitting $87.01. 514,728 shares of the company’s stock traded hands. Dover Corp. has a one year low of $62.722 and a one year 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 price-to-earnings ratio of 15.57.
Dover Corp. (NYSE:DOV) last posted its quarterly 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. Analysts expect that Dover Corp. will post $4.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Wednesday, May 28th.
Dover Corporation (NYSE:DOV) manufactures a range of specialized products and components and also offers related services and consumables.
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