Dover Corporation (NYSE:DOV) – Equities researchers at SunTrust Banks cut their Q3 2017 earnings per share (EPS) estimates for Dover Corporation in a report released on Thursday. SunTrust Banks analyst C. Brady now forecasts that the industrial products company will post earnings of $1.11 per share for the quarter, down from their prior forecast of $1.14. SunTrust Banks currently has a “Hold” rating and a $90.00 target price on the stock. SunTrust Banks also issued estimates for Dover Corporation’s FY2017 earnings at $3.91 EPS.
Dover Corporation (NYSE:DOV) last released its earnings results on Thursday, July 20th. The industrial products company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The company 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 earnings per share. Dover Corporation’s quarterly revenue was up 18.2% compared to the same quarter last year.
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Other research analysts also recently issued reports about the stock. BMO Capital Markets restated a “buy” rating and issued a $94.00 price objective on shares of Dover Corporation in a report on Sunday, August 27th. Robert W. Baird set a $91.00 price objective on Dover Corporation and gave the company a “buy” rating in a report on Thursday, August 24th. BidaskClub upgraded Dover Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Zacks Investment Research upgraded Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a report on Tuesday, July 18th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $91.00 price objective on shares of Dover Corporation in a report on Wednesday, September 6th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $94.23.
Shares of Dover Corporation (NYSE:DOV) opened at 94.05 on Monday. The company’s 50-day moving average price is $90.16 and its 200-day moving average price is $84.07. The stock has a market cap of $14.65 billion, a PE ratio of 23.51 and a beta of 1.27. Dover Corporation has a 52-week low of $65.50 and a 52-week high of $95.14.
In other Dover Corporation news, Director Michael B. Stubbs sold 25,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $87.04, for a total value of $2,176,000.00. Following the completion of the sale, the director now owns 275,344 shares in the company, valued at approximately $23,965,941.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.50% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the business. Frontier Investment Mgmt Co. increased its stake in shares of Dover Corporation by 0.7% during the 2nd quarter. Frontier Investment Mgmt Co. now owns 123,304 shares of the industrial products company’s stock worth $9,891,000 after purchasing an additional 881 shares during the last quarter. Achmea Investment Management B.V. purchased a new stake in shares of Dover Corporation during the 2nd quarter worth approximately $278,000. Sentry Investment Management LLC increased its stake in shares of Dover Corporation by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 10,900 shares of the industrial products company’s stock worth $874,000 after purchasing an additional 117 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Dover Corporation by 2.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 123,325 shares of the industrial products company’s stock worth $9,893,000 after purchasing an additional 2,420 shares during the last quarter. Finally, Koch Industries Inc. purchased a new stake in shares of Dover Corporation during the 2nd quarter worth approximately $236,000. Hedge funds and other institutional investors own 86.01% 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.
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