Dover Corporation (NYSE:DOV) – Research analysts at SunTrust Banks reduced their FY2017 earnings per share estimates for shares of Dover Corporation in a report released on Tuesday. SunTrust Banks analyst C. Brady now anticipates that the industrial products company will post earnings per share of $3.92 for the year, down from their prior forecast of $3.93. SunTrust Banks also issued estimates for Dover Corporation’s FY2019 earnings at $4.95 EPS.

Several other equities analysts have also commented on the stock. Stifel Nicolaus upped their price target on shares of Dover Corporation from $88.00 to $91.00 and gave the stock a “hold” rating in a research report on Friday, July 21st. BidaskClub lowered shares of Dover Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. BMO Capital Markets raised shares of Dover Corporation from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $89.00 to $82.00 in a research report on Thursday, June 8th. Zacks Investment Research raised shares of Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Tuesday, July 18th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Dover Corporation in a research report on Tuesday, May 23rd. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $89.42.

TRADEMARK VIOLATION WARNING: This piece was published by American Banking News and is the property of of American Banking News. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/09/15/suntrust-banks-comments-on-dover-corporations-fy2017-earnings-dov.html.

Dover Corporation (NYSE:DOV) opened at 90.03 on Friday. Dover Corporation has a 12 month low of $65.50 and a 12 month high of $90.15. The firm has a 50-day moving average of $85.52 and a 200 day moving average of $81.96. The stock has a market cap of $14.02 billion, a PE ratio of 22.51 and a beta of 1.26.

Dover Corporation (NYSE:DOV) last posted its quarterly earnings data 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 net margin of 8.61% and a return on equity of 13.36%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter last year, the company posted $0.76 EPS. The firm’s quarterly revenue was up 18.2% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.09%. This is an increase from Dover Corporation’s previous quarterly dividend of $0.44. The ex-dividend date is Tuesday, August 29th. Dover Corporation’s dividend payout ratio is 47.12%.

In other Dover Corporation news, Director Michael B. Stubbs sold 25,000 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the transaction, the director now directly owns 275,344 shares in the company, valued at approximately $23,965,941.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of DOV. Strs Ohio boosted its stake in Dover Corporation by 1.5% during the 1st quarter. Strs Ohio now owns 9,586 shares of the industrial products company’s stock valued at $770,000 after acquiring an additional 146 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Dover Corporation by 97.3% during the 1st quarter. Russell Investments Group Ltd. now owns 142,320 shares of the industrial products company’s stock valued at $11,438,000 after acquiring an additional 70,174 shares during the last quarter. American Century Companies Inc. boosted its stake in Dover Corporation by 6.6% during the 1st quarter. American Century Companies Inc. now owns 160,938 shares of the industrial products company’s stock valued at $12,931,000 after acquiring an additional 9,981 shares during the last quarter. Swiss National Bank boosted its stake in Dover Corporation by 28.3% during the 1st quarter. Swiss National Bank now owns 550,517 shares of the industrial products company’s stock valued at $44,234,000 after acquiring an additional 121,400 shares during the last quarter. Finally, World Asset Management Inc boosted its stake in Dover Corporation by 5.8% during the 1st quarter. World Asset Management Inc now owns 19,858 shares of the industrial products company’s stock valued at $1,596,000 after acquiring an additional 1,093 shares during the last quarter. Hedge funds and other institutional investors own 86.06% of the company’s stock.

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.

Earnings History and Estimates for Dover Corporation (NYSE:DOV)

Receive News & Ratings for Dover Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover Corporation and related companies with MarketBeat.com's FREE daily email newsletter.