Dover Corp. (DOV) Hits New 12-Month High at $74.90
Dover Corp. (NYSE:DOV) hit a new 52-week high during trading on Tuesday . The company traded as high as $74.90 and last traded at $74.38, with a volume of 351,796 shares changing hands. The stock had previously closed at $74.31.
A number of equities research analysts recently commented on the company. Zacks Investment Research lowered Dover Corp. from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 26th. Barclays PLC boosted their price target on Dover Corp. from $65.00 to $71.00 and gave the company an “equal weight” rating in a report on Monday, July 18th. Bank of America Corp. raised Dover Corp. from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, May 26th. Sanford C. Bernstein raised Dover Corp. from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $75.00 to $87.00 in a report on Friday, June 10th. Finally, Seaport Global Securities raised Dover Corp. from a “neutral” rating to a “buy” rating and boosted their price target for the company from $59.00 to $75.00 in a report on Monday, April 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $70.87.
The stock has a market cap of $11.52 billion and a PE ratio of 21.35. The stock has a 50-day moving average of $72.10 and a 200-day moving average of $66.85.
Dover Corp. (NYSE:DOV) last issued its quarterly earnings data 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. During the same period in the previous year, the company posted $0.98 earnings per share. The company earned $1.69 billion during the quarter, compared to analysts’ expectations of $1.71 billion. The business’s revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts forecast that Dover Corp. will post $3.34 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, August 29th. This is a boost from Dover Corp.’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 2.37%.
In other news, VP William Spurgeon sold 17,170 shares of the business’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $71.65, for a total value of $1,230,230.50. Following the completion of the transaction, the vice president now directly owns 59,163 shares of the company’s stock, valued at $4,239,028.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert Livingston sold 25,927 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $69.24, for a total value of $1,795,185.48. Following the completion of the transaction, the chief executive officer now directly owns 192,630 shares of the company’s stock, valued at $13,337,701.20. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Dover Corp. stock. Principal Financial Group Inc. increased its position in Dover Corp. (NYSE:DOV) by 1.1% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 229,722 shares of the company’s stock after buying an additional 2,388 shares during the period. Principal Financial Group Inc. owned about 0.15% of Dover Corp. worth $14,085,000 as of its most recent SEC filing.
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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