Royal Bank of Canada restated their hold rating on shares of Dover (NYSE:DOV) in a report released on Wednesday, January 17th. They currently have a $105.00 price target on the industrial products company’s stock.
A number of other research firms have also recently commented on DOV. Stifel Nicolaus restated a hold rating and set a $112.00 price target (up from $100.00) on shares of Dover in a research note on Tuesday, January 16th. ValuEngine lowered Dover from a buy rating to a hold rating in a research report on Friday, December 1st. Zacks Investment Research lowered Dover from a buy rating to a hold rating in a research report on Monday, October 23rd. SunTrust Banks reaffirmed a hold rating and set a $96.00 price objective on shares of Dover in a research report on Monday, October 23rd. Finally, Citigroup reissued a neutral rating and issued a $96.00 target price (up previously from $90.00) on shares of Dover in a report on Monday, October 9th. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Dover currently has an average rating of Hold and an average target price of $104.42.
Shares of Dover (NYSE DOV) traded up $0.92 during trading on Wednesday, hitting $98.27. The stock had a trading volume of 1,052,796 shares, compared to its average volume of 1,230,000. The firm has a market cap of $15,310.00, a PE ratio of 19.08, a P/E/G ratio of 1.28 and a beta of 1.28. Dover has a fifty-two week low of $75.51 and a fifty-two week high of $109.06. The company has a current ratio of 1.40, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68.
Dover (NYSE:DOV) last released its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. Dover had a return on equity of 15.24% and a net margin of 10.37%. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period in the prior year, the firm posted $1.03 earnings per share. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. research analysts forecast that Dover will post 5.85 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be issued a $0.47 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 1.91%. Dover’s dividend payout ratio (DPR) is presently 36.50%.
In other Dover news, VP William T. Bosway sold 6,087 shares of Dover stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $94.66, for a total value of $576,195.42. Following the completion of the sale, the vice president now directly owns 21,877 shares of the company’s stock, valued at approximately $2,070,876.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Stephen Gary Kennon sold 2,359 shares of Dover stock in a transaction on Friday, November 17th. The shares were sold at an average price of $94.40, for a total transaction of $222,689.60. Following the completion of the transaction, the senior vice president now owns 5,192 shares in the company, valued at approximately $490,124.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,876 shares of company stock valued at $1,026,090. Corporate insiders own 2.50% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in DOV. King Luther Capital Management Corp lifted its holdings in shares of Dover by 423.0% during the 4th quarter. King Luther Capital Management Corp now owns 14,905 shares of the industrial products company’s stock valued at $1,505,000 after acquiring an additional 12,055 shares in the last quarter. Columbia Partners L L C Investment Management acquired a new position in shares of Dover during the 4th quarter valued at $1,330,000. Johnson Financial Group Inc. lifted its holdings in shares of Dover by 177.8% during the 4th quarter. Johnson Financial Group Inc. now owns 2,156 shares of the industrial products company’s stock valued at $218,000 after acquiring an additional 1,380 shares in the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of Dover by 5.8% during the 4th quarter. OppenheimerFunds Inc. now owns 12,322 shares of the industrial products company’s stock valued at $1,244,000 after acquiring an additional 674 shares in the last quarter. Finally, Brown Advisory Inc. lifted its holdings in Dover by 0.3% in the 4th quarter. Brown Advisory Inc. now owns 263,431 shares of the industrial products company’s stock worth $26,604,000 after buying an additional 850 shares in the last quarter. Institutional investors own 84.24% of the company’s stock.
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Dover Company Profile
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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