Dover Corp (NYSE:DOV) – Analysts at Seaport Global Securities lifted their Q2 2017 earnings per share estimates for Dover Corp in a report issued on Tuesday. Seaport Global Securities analyst W. Liptak now forecasts that the firm will earn $0.93 per share for the quarter, up from their previous forecast of $0.83. Seaport Global Securities also issued estimates for Dover Corp’s FY2017 earnings at $3.70 EPS, Q1 2018 earnings at $0.74 EPS, Q2 2018 earnings at $1.13 EPS and Q3 2018 earnings at $1.28 EPS.
Several other analysts have also commented on the stock. Royal Bank of Canada reiterated a “hold” rating and issued a $86.00 price target on shares of Dover Corp in a research report on Sunday, March 12th. Langenberg & Company upgraded shares of Dover Corp from a “sell” rating to a “hold” rating in a research report on Monday, January 30th. BMO Capital Markets initiated coverage on shares of Dover Corp in a research report on Wednesday, February 22nd. They issued a “market perform” rating and a $82.00 price target on the stock. Vertical Research upgraded shares of Dover Corp from a “hold” rating to a “buy” rating in a research report on Tuesday, January 3rd. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Dover Corp in a research report on Thursday, December 15th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $79.08.
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Shares of Dover Corp (NYSE:DOV) opened at 78.14 on Thursday. The stock has a market cap of $12.15 billion, a price-to-earnings ratio of 24.04 and a beta of 1.18. Dover Corp has a 12 month low of $61.64 and a 12 month high of $82.56. The firm has a 50-day moving average price of $79.16 and a 200-day moving average price of $74.35.
Dover Corp (NYSE:DOV) last announced its earnings results on Thursday, January 26th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by $0.24. The firm earned $1.80 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Dover Corp had a net margin of 7.49% and a return on equity of 12.35%. The firm’s revenue for the quarter was down 89.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.81 EPS.
Hedge funds have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. raised its stake in shares of Dover Corp by 314.0% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,391 shares of the company’s stock worth $102,000 after buying an additional 1,055 shares during the period. FNY Partners Fund LP purchased a new stake in shares of Dover Corp during the fourth quarter worth about $112,000. Johnson Financial Group Inc. raised its stake in shares of Dover Corp by 2.6% in the fourth quarter. Johnson Financial Group Inc. now owns 1,556 shares of the company’s stock worth $117,000 after buying an additional 40 shares during the period. Penserra Capital Management LLC raised its stake in shares of Dover Corp by 94.8% in the third quarter. Penserra Capital Management LLC now owns 1,784 shares of the company’s stock worth $130,000 after buying an additional 868 shares during the period. Finally, Fred Alger Management Inc. purchased a new stake in shares of Dover Corp during the fourth quarter worth about $172,000. Hedge funds and other institutional investors own 84.57% of the company’s stock.
In related news, VP Sandra A. Arkell sold 1,850 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $79.94, for a total transaction of $147,889.00. Following the sale, the vice president now owns 10,742 shares in the company, valued at $858,715.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael B. Stubbs sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $80.30, for a total transaction of $1,606,000.00. Following the sale, the director now owns 277,194 shares in the company, valued at approximately $22,258,678.20. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were given a dividend of $0.44 per share. The ex-dividend date was Friday, February 24th. This represents a $1.76 dividend on an annualized basis and a yield of 2.25%. Dover Corp’s dividend payout ratio (DPR) is currently 53.99%.
Dover Corp 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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