Dover Corp (NYSE:DOV)‘s stock had its “hold” rating restated by equities researchers at CIBC in a research report issued to clients and investors on Wednesday.

Several other research firms have also weighed in on DOV. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Dover Corp in a research note on Tuesday. Royal Bank of Canada set a $73.00 price objective on shares of Dover Corp and gave the company a “hold” rating in a research note on Thursday, January 26th. Barclays PLC lifted their price objective on shares of Dover Corp from $78.00 to $79.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th. Stifel Nicolaus lifted their price objective on shares of Dover Corp from $76.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, January 27th. Finally, Citigroup Inc lifted their price objective on shares of Dover Corp from $84.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, April 11th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $84.55.

Analyst Recommendations for Dover Corp (NYSE:DOV)

Dover Corp (NYSE:DOV) traded down 0.31% during trading on Wednesday, reaching $83.24. 1,255,102 shares of the company’s stock were exchanged. The firm has a market cap of $12.96 billion, a P/E ratio of 22.50 and a beta of 1.18. The stock’s 50 day moving average price is $80.07 and its 200 day moving average price is $77.71. Dover Corp has a 52-week low of $63.93 and a 52-week high of $84.40.

Dover Corp (NYSE:DOV) last issued its quarterly earnings results on Thursday, April 20th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.48. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.77 billion. Dover Corp had a net margin of 7.49% and a return on equity of 12.35%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 EPS. Equities research analysts anticipate that Dover Corp will post $4.15 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, May 26th. This represents a $1.76 annualized dividend and a dividend yield of 2.11%. Dover Corp’s payout ratio is 53.99%.

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In other news, VP C. Anderson Fincher sold 15,638 shares of the company’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $79.85, for a total value of $1,248,694.30. Following the completion of the sale, the vice president now owns 32,842 shares in the company, valued at approximately $2,622,433.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael B. Stubbs sold 40,000 shares of the company’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $83.22, for a total transaction of $3,328,800.00. Following the completion of the sale, the director now owns 275,344 shares of the company’s stock, valued at approximately $22,914,127.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,352 shares of company stock valued at $6,970,333. Company insiders own 2.60% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Farmers National Bank raised its stake in Dover Corp by 0.3% in the first quarter. Farmers National Bank now owns 2,988 shares of the industrial products company’s stock valued at $220,000 after buying an additional 10 shares during the last quarter. Cleararc Capital Inc. raised its stake in Dover Corp by 0.4% in the first quarter. Cleararc Capital Inc. now owns 3,799 shares of the industrial products company’s stock valued at $305,000 after buying an additional 15 shares during the last quarter. KCM Investment Advisors LLC raised its stake in Dover Corp by 0.3% in the third quarter. KCM Investment Advisors LLC now owns 5,917 shares of the industrial products company’s stock valued at $436,000 after buying an additional 20 shares during the last quarter. Diversified Trust Co raised its stake in Dover Corp by 0.8% in the first quarter. Diversified Trust Co now owns 4,554 shares of the industrial products company’s stock valued at $366,000 after buying an additional 37 shares during the last quarter. Finally, Johnson Financial Group Inc. raised its stake in Dover Corp by 2.6% in the fourth quarter. Johnson Financial Group Inc. now owns 1,556 shares of the industrial products company’s stock valued at $117,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 84.57% of the company’s stock.

Dover Corp Company Profile

Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.

12 Month Chart for NYSE:DOV

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