Dover Corporation (DOV) Receives Consensus Rating of “Hold” from Brokerages
Dover Corporation (NYSE:DOV) has received a consensus rating of “Hold” from the eighteen ratings firms that are currently covering the stock, Marketbeat reports. Eleven research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $87.00.
Several brokerages have commented on DOV. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Dover Corporation in a research note on Wednesday, June 7th. CIBC restated a “hold” rating on shares of Dover Corporation in a research note on Wednesday, May 24th. Royal Bank Of Canada restated an “outperform” rating and issued a $90.00 target price (up previously from $89.00) on shares of Dover Corporation in a research note on Thursday, July 6th. BidaskClub upgraded Dover Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $87.00 target price on shares of Dover Corporation in a research note on Thursday, July 6th.
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In other Dover Corporation news, Director Michael B. Stubbs sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $87.04, for a total value of $2,176,000.00. Following the sale, the director now owns 275,344 shares of the company’s stock, valued at approximately $23,965,941.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.50% of the company’s stock.
Several institutional investors have recently made changes to their positions in DOV. Macquarie Group Ltd. boosted its position in shares of Dover Corporation by 2.6% in the fourth quarter. Macquarie Group Ltd. now owns 3,900 shares of the industrial products company’s stock worth $292,000 after buying an additional 100 shares in the last quarter. National Pension Service boosted its position in shares of Dover Corporation by 0.8% in the first quarter. National Pension Service now owns 145,970 shares of the industrial products company’s stock worth $11,688,000 after buying an additional 1,220 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Dover Corporation during the first quarter worth $635,000. DnB Asset Management AS boosted its position in shares of Dover Corporation by 2.7% in the first quarter. DnB Asset Management AS now owns 23,216 shares of the industrial products company’s stock worth $1,865,000 after buying an additional 600 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Dover Corporation by 0.9% in the first quarter. Nisa Investment Advisors LLC now owns 66,174 shares of the industrial products company’s stock worth $5,317,000 after buying an additional 580 shares in the last quarter. 85.73% of the stock is currently owned by institutional investors.
Dover Corporation (NYSE:DOV) traded up 0.29% on Friday, reaching $84.28. The company had a trading volume of 343,563 shares. The stock has a market capitalization of $13.13 billion, a P/E ratio of 21.07 and a beta of 1.27. The stock’s 50-day moving average price is $84.09 and its 200-day moving average price is $81.07. Dover Corporation has a 12-month low of $65.50 and a 12-month high of $87.63.
Dover Corporation (NYSE:DOV) last issued its earnings results on Thursday, July 20th. The industrial products company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the company earned $0.76 EPS. The firm’s revenue was up 18.2% compared to the same quarter last year. On average, equities research analysts anticipate that Dover Corporation will post $4.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.88 annualized dividend and a dividend yield of 2.24%. This is a boost from Dover Corporation’s previous quarterly dividend of $0.44. Dover Corporation’s dividend payout ratio (DPR) is presently 44.11%.
About Dover Corporation
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.
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