Dover Corp. Receives Hold Rating from JPMorgan Chase & Co. (DOV)
Dover Corp. (NYSE:DOV)‘s stock had its “hold” rating reiterated by stock analysts at JPMorgan Chase & Co. in a report issued on Friday. They currently have a $73.00 price objective on the stock. JPMorgan Chase & Co.’s target price would suggest a potential downside of 16.10% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse reiterated a “hold” rating on shares of Dover Corp. in a research note on Friday. They now have a $84.00 price target on the stock. Separately, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Dover Corp. in a research note on Tuesday. They now have a $100.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Dover Corp. in a research note on Tuesday. They now have a $49.00 price target on the stock. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $87.77.
In other Dover Corp. news, VP Sivasankaran Somasundaram sold 4,000 shares of the stock in a transaction that occurred on 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 document filed with the SEC, which is available at this link.
Dover Corp. (NYSE:DOV) traded up 1.16% on Friday, hitting $87.01. The stock had a trading volume of 514,728 shares. Dover Corp. has a 1-year low of $62.722 and a 1-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 P/E ratio of 15.57.
Dover Corp. (NYSE:DOV) last issued its quarterly earnings data on Thursday, April 17th. The company reported $1.01 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $1.10 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, analysts predict that Dover Corp. will post $4.81 earnings per share 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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