Dover Corp (NYSE:DOV) has received a consensus recommendation of “Hold” from the eighteen research firms that are presently covering the firm, Marketbeat.com reports. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $108.09.
DOV has been the topic of a number of research analyst reports. BMO Capital Markets restated a “buy” rating on shares of Dover in a report on Friday, January 26th. Stifel Nicolaus restated a “hold” rating and set a $112.00 price target (up from $100.00) on shares of Dover in a report on Tuesday, January 16th. Seaport Global Securities reaffirmed a “hold” rating and set a $110.00 target price on shares of Dover in a research report on Friday, February 2nd. Royal Bank of Canada reaffirmed a “hold” rating and set a $105.00 target price on shares of Dover in a research report on Wednesday, January 17th. Finally, JPMorgan Chase lowered Dover from an “overweight” rating to a “neutral” rating in a research report on Monday, March 26th.
Shares of Dover stock traded up $0.60 on Friday, reaching $97.73. 821,915 shares of the company’s stock were exchanged, compared to its average volume of 1,368,881. The stock has a market capitalization of $14,900.41, a price-to-earnings ratio of 24.44, a PEG ratio of 1.27 and a beta of 1.30. Dover has a 52 week low of $76.47 and a 52 week high of $109.06. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.40.
Dover (NYSE:DOV) last posted its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. Dover had a return on equity of 15.24% and a net margin of 10.37%. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 EPS. equities research analysts forecast that Dover will post 5.86 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Tuesday, February 27th. Dover’s payout ratio is 46.65%.
In related news, insider Stephen Gary Kennon sold 15,702 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $102.01, for a total value of $1,601,761.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Anthony K. Kosinski sold 895 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $104.34, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 19,897 shares of company stock valued at $2,031,745 over the last three months. 2.50% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cerebellum GP LLC purchased a new stake in Dover in the 4th quarter valued at $133,000. Tower Research Capital LLC TRC raised its position in Dover by 891.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock valued at $179,000 after buying an additional 1,596 shares during the last quarter. Somerville Kurt F purchased a new stake in Dover in the 4th quarter valued at $202,000. Associated Banc Corp purchased a new stake in Dover in the 4th quarter valued at $202,000. Finally, Hemenway Trust Co LLC purchased a new stake in Dover in the 4th quarter valued at $203,000. 88.17% of the stock is owned by institutional investors and hedge funds.
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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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