Seaport Global Securities Reiterates “Neutral” Rating for Dover Corporation (DOV)
Dover Corporation (NYSE:DOV)‘s stock had its “neutral” rating restated by Seaport Global Securities in a note issued to investors on Wednesday. Seaport Global Securities also issued estimates for Dover Corporation’s Q3 2017 earnings at $1.14 EPS, Q4 2017 earnings at $0.96 EPS, FY2017 earnings at $3.85 EPS, Q1 2018 earnings at $0.76 EPS, Q2 2018 earnings at $1.13 EPS, Q3 2018 earnings at $1.22 EPS, Q4 2018 earnings at $1.04 EPS and FY2018 earnings at $4.15 EPS.
DOV has been the topic of a number of other research reports. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Dover Corporation in a research note on Wednesday, June 7th. BidaskClub upgraded Dover Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Bank of America Corporation boosted their price target on Dover Corporation from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, June 9th. Zacks Investment Research lowered Dover Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, CIBC restated a “hold” rating on shares of Dover Corporation in a research note on Wednesday, May 24th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $89.42.
Dover Corporation (NYSE DOV) traded down 0.26% during mid-day trading on Wednesday, reaching $89.81. 1,117,406 shares of the company were exchanged. Dover Corporation has a one year low of $65.50 and a one year high of $90.35. The company has a market capitalization of $13.99 billion, a PE ratio of 22.45 and a beta of 1.26. The stock has a 50-day moving average price of $85.69 and a 200 day moving average price of $82.03.
Dover Corporation (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share for the quarter, topping the Zacks’ 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 for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The company’s revenue was up 18.2% on a year-over-year basis. Analysts predict that Dover Corporation will post $4.29 EPS for the current year.
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In other Dover Corporation news, Director Michael B. Stubbs sold 25,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 275,344 shares of the company’s stock, valued at $23,965,941.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.50% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Farmers National Bank lifted its holdings in Dover Corporation 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 acquiring an additional 10 shares during the period. Cleararc Capital Inc. lifted its holdings in Dover Corporation 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 acquiring an additional 15 shares during the period. Citizens Financial Group Inc RI lifted its holdings in Dover Corporation by 0.3% in the second quarter. Citizens Financial Group Inc RI now owns 4,555 shares of the industrial products company’s stock valued at $365,000 after acquiring an additional 15 shares during the period. Contravisory Investment Management Inc. lifted its holdings in Dover Corporation by 0.7% in the second quarter. Contravisory Investment Management Inc. now owns 3,323 shares of the industrial products company’s stock valued at $267,000 after acquiring an additional 23 shares during the period. Finally, FineMark National Bank & Trust lifted its holdings in Dover Corporation by 0.7% in the second quarter. FineMark National Bank & Trust now owns 3,292 shares of the industrial products company’s stock valued at $264,000 after acquiring an additional 23 shares during the period. 86.06% of the stock is owned by institutional investors.
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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