Dover Corp. Stock Rating Reaffirmed by RBC Capital (DOV)
Dover Corp. (NYSE:DOV)‘s stock had its “outperform” rating restated by equities research analysts at RBC Capital in a research note issued to investors on Thursday. They currently have a $75.00 target price on the stock, down from their previous target price of $78.00. RBC Capital’s price objective suggests a potential downside of 13.80% from the company’s current price.
Shares of Dover Corp. (NYSE:DOV) traded up 1.16% on Thursday, 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 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.
In other Dover Corp. news, VP Sivasankaran Somasundaram unloaded 4,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $86.81, for a total transaction of $347,240.00. The transaction was disclosed in a legal 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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