Dover Co. (NYSE:DOV) – Equities research analysts at Oppenheimer issued their Q2 2018 earnings per share estimates for Dover in a report released on Wednesday, May 16th. Oppenheimer analyst J. Giannakouros anticipates that the industrial products company will earn $1.19 per share for the quarter. Oppenheimer also issued estimates for Dover’s Q3 2018 earnings at $1.33 EPS, Q4 2018 earnings at $1.39 EPS, FY2018 earnings at $4.80 EPS and FY2019 earnings at $5.40 EPS.
Dover (NYSE:DOV) last posted its quarterly earnings data on Friday, April 27th. The industrial products company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.03. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.89 billion. Dover had a net margin of 9.71% and a return on equity of 16.48%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.09 earnings per share.
Several other research firms also recently weighed in on DOV. SunTrust Banks upped their price objective on shares of Dover to $106.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. Morgan Stanley upped their price objective on shares of Dover from $110.00 to $113.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. BMO Capital Markets upped their price target on shares of Dover from $116.00 to $118.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Seaport Global Securities reissued a “hold” rating and issued a $110.00 price target on shares of Dover in a report on Friday, February 2nd. Finally, Zacks Investment Research raised shares of Dover from a “hold” rating to a “buy” rating and set a $119.00 price target for the company in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $104.92.
DOV stock opened at $80.39 on Monday. The stock has a market capitalization of $12.22 billion, a P/E ratio of 19.95, a P/E/G ratio of 1.26 and a beta of 1.32. Dover has a fifty-two week low of $62.10 and a fifty-two week high of $88.11. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.42 and a quick ratio of 0.95.
A number of hedge funds have recently bought and sold shares of DOV. Bank of Montreal Can lifted its stake in Dover by 188.6% during the fourth quarter. Bank of Montreal Can now owns 275,793 shares of the industrial products company’s stock valued at $27,852,000 after buying an additional 180,227 shares in the last quarter. National Pension Service increased its holdings in shares of Dover by 2.5% in the 4th quarter. National Pension Service now owns 170,691 shares of the industrial products company’s stock valued at $17,238,000 after purchasing an additional 4,182 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Dover by 3.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 605,813 shares of the industrial products company’s stock valued at $61,182,000 after purchasing an additional 19,389 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of Dover by 94.8% in the 4th quarter. State of Alaska Department of Revenue now owns 22,689 shares of the industrial products company’s stock valued at $2,290,000 after purchasing an additional 11,040 shares during the period. Finally, Asset Advisors Corp increased its holdings in shares of Dover by 0.8% in the 4th quarter. Asset Advisors Corp now owns 140,390 shares of the industrial products company’s stock valued at $14,178,000 after purchasing an additional 1,150 shares during the period. 85.65% of the stock is owned by institutional investors.
In other Dover news, VP Anthony K. Kosinski sold 895 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $104.34, for a total transaction of $93,384.30. Following the completion of the sale, the vice president now directly owns 8,516 shares of the company’s stock, valued at $888,559.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Gary Kennon sold 15,702 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $102.01, for a total transaction of $1,601,761.02. The disclosure for this sale can be found here. Insiders have sold 19,897 shares of company stock valued at $2,031,745 over the last ninety days. Insiders own 2.60% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Thursday, May 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 2.34%. The ex-dividend date of this dividend is Wednesday, May 30th. Dover’s dividend payout ratio is presently 46.65%.
Dover Company Profile
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of fuels for drilling and production, bearings and compression, and automation end markets.
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