Dover Corp. (DOV) Shares Gap Up to $70.98
Dover Corp. (NYSE:DOV) gapped up prior to trading on Tuesday . The stock had previously closed at $70.39, but opened at $70.98. Dover Corp. shares last traded at $72.34, with a volume of 903,712 shares traded.
Several equities research analysts have recently weighed in on the stock. TheStreet raised shares of Dover Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, May 24th. Bank of America Corp. raised 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. Barclays PLC increased their target price on shares of Dover Corp. from $63.00 to $65.00 and gave the company an “equal weight” rating in a research report on Friday, April 22nd. Morgan Stanley increased their target price on shares of Dover Corp. from $64.00 to $65.00 in a research report on Thursday, April 7th. Finally, Zacks Investment Research cut shares of Dover Corp. from a “hold” rating to a “sell” rating in a research report on Monday, June 27th. 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 company. The stock presently has a consensus rating of “Hold” and an average price target of $70.87.
The company’s 50 day moving average is $70.39 and its 200-day moving average is $64.55. The stock has a market cap of $11.23 billion and a P/E ratio of 20.81.
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 analysts’ consensus estimates of $0.85 by $0.09. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.71 billion. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 earnings per share. Equities research analysts expect that Dover Corp. will post $3.36 EPS for the current year.
Several hedge funds recently added to or reduced their stakes in DOV. WBI Investments Inc. bought a new stake in Dover Corp. during the fourth quarter worth $41,596,000. Vanguard Group Inc. increased its stake 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 during the last quarter. Morgan Stanley increased its stake in Dover Corp. by 31.0% in the fourth quarter. Morgan Stanley now owns 580,539 shares of the company’s stock worth $35,592,000 after buying an additional 137,334 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in 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 last quarter. Finally, Janus Capital Management increased its stake in 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 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.
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