Dover Corp (NYSE:DOV) – Analysts at SunTrust Banks boosted their Q2 2019 earnings per share (EPS) estimates for shares of Dover in a research report issued on Thursday, January 10th. SunTrust Banks analyst C. Brady now forecasts that the industrial products company will post earnings of $1.47 per share for the quarter, up from their previous estimate of $1.42. SunTrust Banks has a “Hold” rating and a $91.00 price objective on the stock. SunTrust Banks also issued estimates for Dover’s Q3 2019 earnings at $1.50 EPS and Q2 2020 earnings at $1.61 EPS.
Other equities research analysts have also recently issued research reports about the stock. UBS Group raised shares of Dover from a “neutral” rating to a “buy” rating and set a $76.35 price objective for the company in a research report on Thursday. Zacks Investment Research cut shares of Dover from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Barclays dropped their price objective on shares of Dover from $97.00 to $93.00 and set an “overweight” rating for the company in a report on Monday, December 17th. Oppenheimer reiterated a “hold” rating on shares of Dover in a report on Monday, October 22nd. Finally, Wolfe Research upgraded shares of Dover from a “market perform” rating to an “outperform” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $89.18.
DOV opened at $77.48 on Friday. Dover has a twelve month low of $65.83 and a twelve month 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. The stock has a market cap of $11.17 billion, a P/E ratio of 19.23, a PEG ratio of 1.13 and a beta of 1.39.
Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, October 18th. The industrial products company reported $1.36 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the company posted $1.14 earnings per share. Dover’s revenue was up .0% compared to the same quarter last year.
Hedge funds have recently made changes to their positions in the company. Cerebellum GP LLC acquired a new stake in shares of Dover during the 4th quarter worth approximately $123,000. Centaurus Financial Inc. acquired a new stake in shares of Dover during the 2nd quarter worth approximately $127,000. Federated Investors Inc. PA grew its position in shares of Dover by 151.5% during the 3rd quarter. Federated Investors Inc. PA now owns 2,128 shares of the industrial products company’s stock worth $188,000 after buying an additional 1,282 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. acquired a new stake in shares of Dover during the 3rd quarter worth approximately $202,000. Finally, Reliance Trust Co. of Delaware acquired a new stake in shares of Dover during the 3rd quarter worth approximately $203,000. 90.70% of the stock is owned by institutional investors.
In other Dover news, Director Mary A. Winston sold 2,000 shares of the 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 sale, the director now owns 13,055 shares of the company’s stock, valued at approximately $1,074,295.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Monday, December 17th. Shareholders of record on Friday, November 30th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date was Thursday, November 29th. 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.
Featured Article: Should You Consider an Index Fund?
Receive News & Ratings for Dover Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover and related companies with MarketBeat.com's FREE daily email newsletter.