Wall Street brokerages expect Dover Corp (NYSE:DOV) to announce sales of $1.77 billion for the current quarter, Zacks reports. Eight analysts have issued estimates for Dover’s earnings. The highest sales estimate is $1.79 billion and the lowest is $1.76 billion. Dover posted sales of $2.02 billion in the same quarter last year, which suggests a negative year over year growth rate of 12.4%. The company is scheduled to report its next quarterly earnings results on Tuesday, January 29th.
According to Zacks, analysts expect that Dover will report full year sales of $6.96 billion for the current fiscal year, with estimates ranging from $6.94 billion to $6.97 billion. For the next financial year, analysts anticipate that the business will post sales of $7.18 billion, with estimates ranging from $7.10 billion to $7.32 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Dover.
Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, October 18th. The industrial products company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.07. Dover had a net margin of 9.69% and a return on equity of 21.22%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the firm posted $1.14 earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year.
DOV has been the topic of several research reports. Gordon Haskett initiated coverage on shares of Dover in a research report on Friday, October 12th. They issued a “buy” rating on the stock. Zacks Investment Research lowered shares of Dover from a “buy” rating to a “hold” rating in a research report on Tuesday, November 13th. Oppenheimer reissued a “hold” rating on shares of Dover in a research report on Tuesday, September 11th. Barclays boosted their price target on shares of Dover from $96.00 to $97.00 and gave the company an “overweight” rating in a research report on Friday, October 19th. Finally, SunTrust Banks boosted their price target on shares of Dover to $91.00 and gave the company a “hold” rating in a research report on Friday, October 19th. Thirteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $89.77.
In related news, Director Mary A. Winston sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 23rd. The shares were sold at an average price of $82.29, for a total transaction of $164,580.00. Following the completion of the transaction, the director now owns 13,055 shares of the company’s stock, valued at $1,074,295.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.50% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Baird Financial Group Inc. grew its stake in Dover by 10.0% in the 2nd quarter. Baird Financial Group Inc. now owns 6,905 shares of the industrial products company’s stock worth $505,000 after buying an additional 629 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in Dover by 11.3% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,454 shares of the industrial products company’s stock worth $571,000 after buying an additional 657 shares in the last quarter. BB&T Securities LLC grew its stake in Dover by 7.3% in the 2nd quarter. BB&T Securities LLC now owns 10,094 shares of the industrial products company’s stock worth $738,000 after buying an additional 689 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its stake in Dover by 5.4% in the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 13,495 shares of the industrial products company’s stock worth $1,195,000 after buying an additional 693 shares in the last quarter. Finally, Pitcairn Co. grew its stake in Dover by 13.2% in the 3rd quarter. Pitcairn Co. now owns 6,556 shares of the industrial products company’s stock worth $580,000 after buying an additional 763 shares in the last quarter. 90.84% of the stock is owned by institutional investors.
NYSE DOV opened at $79.50 on Friday. Dover has a 12-month low of $70.12 and a 12-month high of $90.26. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 1.30. The company has a market capitalization of $12.22 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 1.44 and a beta of 1.34.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Friday, November 30th will be paid a dividend of $0.48 per share. The ex-dividend date is Thursday, November 29th. This represents a $1.92 annualized dividend and a yield of 2.42%. Dover’s dividend payout ratio is currently 47.64%.
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual clamps, power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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