Dover Corp (NYSE:DOV) – Analysts at William Blair lifted their FY2019 earnings estimates for shares of Dover in a research note issued to investors on Tuesday, September 11th, according to Zacks Investment Research. William Blair analyst L. De. Maria now forecasts that the industrial products company will post earnings per share of $5.85 for the year, up from their previous estimate of $5.50. William Blair has a “Market Perform” rating on the stock.
Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 19th. The industrial products company reported $1.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.09. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.78 billion. Dover had a return on equity of 18.66% and a net margin of 9.64%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same period last year, the company earned $1.04 EPS.
Other analysts also recently issued research reports about the company. Citigroup raised Dover from a “neutral” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note on Friday, September 7th. Bank of America lifted their price target on Dover from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, September 26th. ValuEngine raised Dover from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Seaport Global Securities reissued a “hold” rating and issued a $80.00 price target on shares of Dover in a research note on Friday, July 20th. Finally, Oppenheimer reissued a “hold” rating on shares of Dover in a research note on Thursday, July 19th. Thirteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Dover has a consensus rating of “Hold” and an average price target of $92.77.
Dover stock traded down $0.73 during mid-day trading on Thursday, hitting $87.43. 1,291,079 shares of the company’s stock were exchanged, compared to its average volume of 1,709,415. The company has a market capitalization of $13.08 billion, a PE ratio of 21.69, a PEG ratio of 1.53 and a beta of 1.34. Dover has a fifty-two week low of $70.12 and a fifty-two week high of $90.26. The company has a current ratio of 1.35, a quick ratio of 0.93 and a debt-to-equity ratio of 1.05.
Institutional investors have recently bought and sold shares of the stock. Optimum Investment Advisors bought a new position in Dover during the first quarter worth about $104,000. Summit Trail Advisors LLC grew its holdings in Dover by 4,425.8% during the first quarter. Summit Trail Advisors LLC now owns 106,446 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 104,094 shares during the period. Fort L.P. bought a new position in Dover during the second quarter worth about $118,000. Winthrop Partners WNY LLC bought a new position in Dover during the first quarter worth about $126,000. Finally, Centaurus Financial Inc. bought a new position in Dover during the second quarter worth about $127,000. Institutional investors and hedge funds own 90.73% of the company’s stock.
In related news, Director Kristiane C. Graham sold 50,000 shares of Dover stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $82.75, for a total value of $4,137,500.00. Following the sale, the director now owns 367,324 shares of the company’s stock, valued at $30,396,061. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by insiders.
The business also recently announced a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Friday, August 31st were given a $0.48 dividend. The ex-dividend date was Thursday, August 30th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.20%. This is an increase from Dover’s previous quarterly dividend of $0.47. Dover’s payout ratio is currently 47.64%.
Dover Company Profile
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual clamps, power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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