Dover Corp.’s “Neutral” Rating Reaffirmed at JPMorgan Chase & Co. (DOV)
Dover Corp. (NYSE:DOV)‘s stock had its “neutral” rating restated by JPMorgan Chase & Co. in a research note issued on Friday. They currently have a $67.00 target price on the stock. JPMorgan Chase & Co.’s price target indicates a potential downside of 23.00% from the stock’s previous close.
Shares of 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 52-week low of $62.722 and a 52-week high of $87.39. The stock has a 50-day moving average of $85.06 and a 200-day moving average of $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 released its 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. 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. Stockholders 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.
In other Dover Corp. news, VP Sivasankaran Somasundaram sold 4,000 shares of the stock on the open market in a transaction dated 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 legal filing with the SEC, which can be accessed through 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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