Dover Corp. (DOV) Reaches New 1-Year High at $73.58
Dover Corp. (NYSE:DOV) reached a new 52-week high on Wednesday . The company traded as high as $73.58 and last traded at $73.22, with a volume of 661,673 shares trading hands. The stock had previously closed at $72.97.
A number of equities research analysts recently weighed in on DOV shares. Zacks Investment Research cut Dover Corp. from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 29th. Bank of America Corp. upgraded Dover Corp. from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Tuesday, May 10th. Seaport Global Securities upgraded Dover Corp. from a “neutral” rating to a “buy” rating and increased their price objective for the company from $59.00 to $75.00 in a research report on Monday, April 25th. Robert W. Baird upgraded Dover Corp. from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $66.00 to $86.00 in a research report on Wednesday, June 8th. Finally, Barclays PLC increased their price objective on Dover Corp. from $65.00 to $71.00 and gave the company an “equal weight” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $70.87.
The stock’s 50 day moving average is $70.08 and its 200-day moving average is $64.22. The stock has a market cap of $11.16 billion and a PE ratio of 14.91.
Dover Corp. (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by $0.09. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the business earned $0.98 EPS. The business’s quarterly revenue was down 4.1% on a year-over-year basis. On average, analysts forecast that Dover Corp. will post $3.47 earnings per share for the current fiscal year.
A number of hedge funds recently bought and sold shares of the stock. Pittenger & Anderson Inc. increased its stake in 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 increased its stake in Dover Corp. by 46.7% in the fourth quarter. CNA Financial Corp now owns 20,175 shares of the company’s stock worth $1,236,000 after buying an additional 6,425 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its stake 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 worth $1,272,000 after buying an additional 790 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in Dover Corp. by 567.2% in the fourth quarter. Pinnacle Associates Ltd. now owns 23,705 shares of the company’s stock worth $1,453,000 after buying an additional 20,152 shares during the last quarter. Finally, Ameritas Investment Partners Inc. bought a new stake in Dover Corp. during the fourth quarter worth $1,594,000.
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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