Shares of Dover Corp (NYSE:DOV) have earned an average rating of “Hold” from the eighteen analysts that are currently covering the company, Marketbeat.com reports. Thirteen analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $89.50.
Several analysts recently issued reports on DOV shares. ValuEngine upgraded Dover from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Gordon Haskett initiated coverage on Dover in a report on Friday, October 12th. They issued a “buy” rating for the company. Oppenheimer reaffirmed a “hold” rating on shares of Dover in a report on Tuesday, September 11th. Barclays lifted their price objective on Dover from $96.00 to $97.00 and gave the company an “overweight” rating in a report on Friday, October 19th. Finally, Zacks Investment Research raised Dover from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 17th.
In other Dover news, Director Mary A. Winston sold 2,000 shares of Dover stock in a transaction on Tuesday, October 23rd. The stock was sold at an average price of $82.29, for a total value of $164,580.00. Following the completion of the transaction, the director now directly owns 13,055 shares of the company’s stock, valued at approximately $1,074,295.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of Dover by 3.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,827,415 shares of the industrial products company’s stock worth $781,489,000 after buying an additional 288,630 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Dover by 15.9% during the 2nd quarter. Bank of America Corp DE now owns 5,304,419 shares of the industrial products company’s stock worth $388,283,000 after buying an additional 726,930 shares in the last quarter. Boston Partners raised its holdings in shares of Dover by 110.3% during the 2nd quarter. Boston Partners now owns 5,131,152 shares of the industrial products company’s stock worth $375,601,000 after buying an additional 2,691,480 shares in the last quarter. Third Point LLC raised its holdings in shares of Dover by 2.0% during the 2nd quarter. Third Point LLC now owns 4,000,000 shares of the industrial products company’s stock worth $292,800,000 after buying an additional 80,000 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Dover by 5.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,380,997 shares of the industrial products company’s stock worth $210,788,000 after buying an additional 129,276 shares in the last quarter. 91.78% of the stock is owned by institutional investors.
DOV traded down $0.35 during trading on Friday, hitting $86.42. The stock had a trading volume of 1,370,943 shares, compared to its average volume of 1,701,630. The company has a market capitalization of $12.70 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 1.49 and a beta of 1.32. Dover has a one year low of $70.12 and a one year high of $90.26. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.30 and a quick ratio of 0.88.
Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, October 18th. The industrial products company reported $1.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.07. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.76 billion. Dover had a return on equity of 21.22% and a net margin of 9.69%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 EPS. Equities analysts anticipate that Dover will post 4.85 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 30th will be issued a $0.48 dividend. The ex-dividend date is Thursday, November 29th. This represents a $1.92 annualized dividend and a yield of 2.22%. Dover’s dividend payout ratio is presently 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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