Susquehanna started coverage on shares of Dover Corp. (NYSE:DOV) in a research note published on Friday morning. The brokerage issued a neutral rating and a $77.00 price objective on the stock.
A number of other equities research analysts also recently commented on the company. Bank of America Corp. reaffirmed a buy rating and set a $85.00 target price on shares of Dover Corp. in a report on Thursday, October 6th. Zacks Investment Research downgraded Dover Corp. from a hold rating to a sell rating in a report on Wednesday, September 21st. Barclays PLC boosted their price target on Dover Corp. from $65.00 to $71.00 and gave the company an equal weight rating in a report on Monday, July 18th. Finally, Sanford C. Bernstein raised Dover Corp. from a market perform rating to an outperform rating and boosted their price target for the company from $75.00 to $87.00 in a report on Friday, June 10th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $72.19.
Shares of Dover Corp. (NYSE:DOV) opened at 67.29 on Friday. Dover Corp. has a one year low of $50.91 and a one year high of $74.90. The firm’s 50-day moving average is $71.00 and its 200-day moving average is $69.14. The stock has a market capitalization of $10.44 billion, a price-to-earnings ratio of 19.35 and a beta of 1.25.
Dover Corp. (NYSE:DOV) last released its earnings results on Thursday, July 21st. The company reported $0.76 EPS for the quarter, missing the Zacks’ consensus estimate of $0.85 by $0.09. Dover Corp. had a return on equity of 14.27% and a net margin of 8.03%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the firm earned $0.98 EPS. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities research analysts forecast that Dover Corp. will post $3.34 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a $0.44 dividend. This is a boost from Dover Corp.’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Monday, August 29th. Dover Corp.’s dividend payout ratio is presently 50.29%.
In other Dover Corp. news, CEO Robert Livingston sold 25,927 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $69.24, for a total value of $1,795,185.48. Following the completion of the sale, the chief executive officer now directly owns 192,630 shares in the company, valued at approximately $13,337,701.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP William Spurgeon sold 17,170 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $71.65, for a total value of $1,230,230.50. Following the completion of the sale, the vice president now owns 59,163 shares of the company’s stock, valued at $4,239,028.95. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Pictet Asset Management Ltd. raised its position in shares of Dover Corp. by 3.0% in the first quarter. Pictet Asset Management Ltd. now owns 89,544 shares of the company’s stock valued at $5,443,000 after buying an additional 2,600 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Dover Corp. during the first quarter valued at approximately $402,000. Rafferty Asset Management LLC acquired a new position in shares of Dover Corp. during the first quarter valued at approximately $3,185,000. Credit Agricole S A raised its position in shares of Dover Corp. by 11.2% in the first quarter. Credit Agricole S A now owns 116,349 shares of the company’s stock valued at $7,485,000 after buying an additional 11,708 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Dover Corp. during the first quarter valued at approximately $217,000. Institutional investors own 85.59% of the company’s stock.
Dover Corp. Company Profile