Dover Corp. (DOV) Sees Strong Trading Volume
Shares of Dover Corp. (NYSE:DOV) saw an uptick in trading volume on Thursday . 1,756,184 shares were traded during trading, an increase of 16% from the previous session’s volume of 1,513,690 shares.The stock last traded at $71.79 and had previously closed at $73.05.
Several research firms have recently issued reports on DOV. Zacks Investment Research cut shares of Dover Corp. from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 29th. Barclays PLC lifted their price objective on shares of Dover Corp. from $65.00 to $71.00 and gave the company an “equal weight” rating in a research report on Monday. Citigroup Inc. boosted their price target on shares of Dover Corp. from $70.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 8th. Sanford C. Bernstein upgraded shares of Dover Corp. from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $75.00 to $87.00 in a research report on Friday, June 10th. Finally, Oppenheimer Holdings Inc. restated a “hold” rating on shares of Dover Corp. in a research report on Wednesday, June 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. Dover Corp. presently has an average rating of “Hold” and a consensus target price of $70.87.
The firm has a market capitalization of $11.16 billion and a P/E ratio of 14.91. The firm has a 50 day moving average price of $70.08 and a 200-day moving average price of $64.22.
Dover Corp. (NYSE:DOV) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by $0.09. The business earned $1.69 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts anticipate that Dover Corp. will post $3.47 EPS for the current year.
A number of hedge funds and institutional investors have recently made changes to their positions in the stock. Pittenger & Anderson Inc. raised its position in shares of Dover Corp. by 4.4% in the fourth quarter. Pittenger & Anderson Inc. now owns 18,325 shares of the company’s stock worth $1,123,000 after buying an additional 780 shares during the last quarter. CNA Financial Corp raised its position in Dover Corp. by 46.7% in the fourth quarter. CNA Financial Corp now owns 20,175 shares of the company’s stock valued at $1,236,000 after buying an additional 6,425 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in Dover Corp. by 4.0% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 20,749 shares of the company’s stock valued at $1,272,000 after buying an additional 790 shares in the last quarter. Pinnacle Associates Ltd. raised its position in Dover Corp. by 567.2% in the fourth quarter. Pinnacle Associates Ltd. now owns 23,705 shares of the company’s stock valued at $1,453,000 after buying an additional 20,152 shares in the last quarter. Finally, Nuance Investments LLC raised its position in Dover Corp. by 4.7% in the fourth quarter. Nuance Investments LLC now owns 25,571 shares of the company’s stock valued at $1,568,000 after buying an additional 1,141 shares in the last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.