Dover Corp. (NYSE:DOV) – Research analysts at Seaport Global Securities lowered their Q4 2016 earnings estimates for shares of Dover Corp. in a report released on Monday. Seaport Global Securities analyst W. Liptak now anticipates that the firm will post earnings of $0.82 per share for the quarter, down from their prior estimate of $0.96. Seaport Global Securities also issued estimates for Dover Corp.’s Q2 2017 earnings at $0.95 EPS.
Dover Corp. (NYSE:DOV) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.85 by $0.09. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Dover Corp. had a return on equity of 14.27% and a net margin of 8.03%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 EPS.
Several other research firms also recently commented on DOV. Susquehanna began coverage on shares of Dover Corp. in a research report on Friday, October 7th. They set a “neutral” rating and a $77.00 target price on the stock. Bank of America Corp. reissued a “buy” rating and set a $85.00 target price on shares of Dover Corp. in a research report on Thursday, October 6th. Zacks Investment Research downgraded shares of Dover Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, October 6th. Barclays PLC increased their target price on shares of Dover Corp. from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Monday, July 18th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Dover Corp. in a research report on Monday, June 27th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. Dover Corp. currently has an average rating of “Hold” and an average target price of $72.19.
Shares of Dover Corp. (NYSE:DOV) opened at 66.64 on Wednesday. Dover Corp. has a 12 month low of $50.91 and a 12 month high of $74.90. The stock has a market cap of $10.34 billion, a P/E ratio of 19.17 and a beta of 1.25. The stock has a 50 day moving average price of $70.80 and a 200-day moving average price of $69.12.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.44 per share. This is a positive change from Dover Corp.’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.76 annualized dividend and a dividend yield of 2.64%. Dover Corp.’s dividend payout ratio (DPR) is presently 50.29%.
In other news, VP C. Anderson Fincher sold 1,420 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $73.42, for a total transaction of $104,256.40. Following the completion of the sale, the vice president now owns 40,326 shares of the company’s stock, valued at $2,960,734.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert Livingston sold 25,927 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $69.24, for a total transaction of $1,795,185.48. Following the sale, the chief executive officer now directly owns 192,630 shares of the company’s stock, valued at approximately $13,337,701.20. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Shinko Asset Management Co. Ltd. raised its stake in Dover Corp. by 0.6% in the second quarter. Shinko Asset Management Co. Ltd. now owns 4,247 shares of the company’s stock valued at $294,000 after buying an additional 25 shares during the last quarter. Archford Capital Strategies LLC raised its stake in shares of Dover Corp. by 0.4% in the second quarter. Archford Capital Strategies LLC now owns 11,957 shares of the company’s stock worth $829,000 after buying an additional 44 shares in the last quarter. Ngam Advisors L.P. raised its stake in shares of Dover Corp. by 0.5% in the second quarter. Ngam Advisors L.P. now owns 12,291 shares of the company’s stock worth $852,000 after buying an additional 59 shares in the last quarter. Phocas Financial Corp. raised its stake in shares of Dover Corp. by 0.6% in the first quarter. Phocas Financial Corp. now owns 13,496 shares of the company’s stock worth $868,000 after buying an additional 85 shares in the last quarter. Finally, Peachtree Investment Advisors Inc. raised its stake in shares of Dover Corp. by 0.5% in the second quarter. Peachtree Investment Advisors Inc. now owns 20,180 shares of the company’s stock worth $1,399,000 after buying an additional 95 shares in the last quarter. 85.59% of the stock is owned by institutional investors.
Dover Corp. Company Profile