Robert W. Baird Analysts Give Dover Corporation (DOV) a $91.00 Price Target
A number of other research analysts have also recently commented on DOV. Oppenheimer Holdings, Inc. reissued a hold rating on shares of Dover Corporation in a research note on Tuesday, May 23rd. CIBC reaffirmed a hold rating on shares of Dover Corporation in a research note on Wednesday, May 24th. Seaport Global Securities reaffirmed a buy rating on shares of Dover Corporation in a research note on Monday, June 5th. BMO Capital Markets raised Dover Corporation from a market perform rating to an outperform rating and reduced their price objective for the company from $89.00 to $82.00 in a research note on Thursday, June 8th. Finally, Bank of America Corporation raised their price objective on Dover Corporation from $90.00 to $95.00 and gave the company a buy rating in a research note on Friday, June 9th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $89.00.
Shares of Dover Corporation (NYSE DOV) traded up 1.27% during trading on Thursday, hitting $85.27. The stock had a trading volume of 1,201,896 shares. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 21.32 and a beta of 1.27. Dover Corporation has a one year low of $65.50 and a one year high of $87.63. The stock has a 50 day moving average price of $84.57 and a 200-day moving average price of $81.34.
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 the Zacks’ consensus estimate of $1.01 by $0.03. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The firm’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 earnings per share. On average, equities research analysts predict that Dover Corporation will post $4.31 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.47 per share. This is a positive change from Dover Corporation’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, August 29th. Dover Corporation’s dividend payout ratio is currently 44.11%.
In other 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 transaction of $2,176,000.00. Following the completion of the sale, the director now directly owns 275,344 shares in the company, valued at $23,965,941.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.50% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Sentry Investment Management LLC raised its stake in Dover Corporation by 1.1% in the second quarter. Sentry Investment Management LLC now owns 10,900 shares of the industrial products company’s stock worth $874,000 after buying an additional 117 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Dover Corporation by 2.0% in the second quarter. Public Employees Retirement System of Ohio now owns 123,325 shares of the industrial products company’s stock worth $9,893,000 after buying an additional 2,420 shares in the last quarter. Koch Industries Inc. purchased a new stake in Dover Corporation during the second quarter worth $236,000. Nomura Holdings Inc. raised its stake in Dover Corporation by 21.2% in the second quarter. Nomura Holdings Inc. now owns 43,201 shares of the industrial products company’s stock worth $3,461,000 after buying an additional 7,559 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its stake in Dover Corporation by 9.5% in the second quarter. Coldstream Capital Management Inc. now owns 8,014 shares of the industrial products company’s stock worth $643,000 after buying an additional 698 shares in the last quarter. Institutional investors own 85.73% of the company’s stock.
Dover Corporation 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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