Dover Corp. (DOV) Hits New 12-Month High at $72.43
Dover Corp. (NYSE:DOV) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $72.43 and last traded at $72.34, with a volume of 566,727 shares traded. The stock had previously closed at $71.07.
A number of equities research analysts recently issued reports on DOV shares. Robert W. Baird upgraded shares of Dover Corp. from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $66.00 to $86.00 in a research report on Wednesday, June 8th. SunTrust Banks Inc. cut shares of Dover Corp. from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $69.00 to $67.00 in a research report on Monday, March 21st. Citigroup Inc. reiterated a “hold” rating on shares of Dover Corp. in a research report on Wednesday, March 16th. Bank of America Corp. upgraded shares of Dover Corp. from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Thursday, May 26th. Finally, Zacks Investment Research upgraded shares of Dover Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 17th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company’s stock. Dover Corp. presently has a consensus rating of “Hold” and an average price target of $70.47.
The company has a market cap of $11.22 billion and a PE ratio of 14.99. The company has a 50 day moving average of $69.11 and a 200 day moving average of $63.78.
Dover Corp. (NYSE:DOV) last posted its quarterly earnings data on Thursday, April 21st. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.08. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter last year, the company earned $0.72 earnings per share. Dover Corp.’s revenue was down 5.4% on a year-over-year basis. Analysts anticipate that Dover Corp. will post $3.48 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Thursday, May 26th.
A number of institutional investors have recently bought and sold shares of DOV. Vanguard Group Inc. increased its position in Dover Corp. by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 13,699,026 shares of the company’s stock worth $839,888,000 after buying an additional 267,457 shares in the last quarter. Janus Capital Management increased its position in shares of Dover Corp. by 2.7% in the third quarter. Janus Capital Management now owns 2,877,027 shares of the company’s stock worth $164,513,000 after buying an additional 75,173 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Dover Corp. by 9.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,433,207 shares of the company’s stock worth $87,875,000 after buying an additional 118,576 shares during the period. WBI Investments Inc. bought a new position in shares of Dover Corp. during the fourth quarter worth $41,596,000. Finally, Diamond Hill Capital Management Inc. increased its position in shares of Dover Corp. by 6.6% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 599,290 shares of the company’s stock worth $36,742,000 after buying an additional 37,214 shares during the period.
Dover Corporation (Dover) is engaged in the manufacturing of equipment, components and specialty systems. The Company also provides supporting engineering, testing and other services. The Company operates through four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for production and processing of fuels across the world.
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