Dover Corp. (DOV) Sets New 52-Week High at $72.43
Dover Corp. (NYSE:DOV) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $72.43 and last traded at $72.34, with a volume of 566,727 shares. The stock had previously closed at $71.07.
Several research analysts have issued reports on DOV shares. Morgan Stanley increased their price objective on Dover Corp. from $64.00 to $65.00 in a research note on Thursday, April 7th. Seaport Global Securities upgraded Dover Corp. from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $59.00 to $75.00 in a research note on Monday, April 25th. Bank of America Corp. upgraded Dover Corp. from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Tuesday, May 10th. TheStreet upgraded Dover Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, May 24th. Finally, Barclays PLC increased their price objective on Dover Corp. from $63.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Friday, April 22nd. 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. Dover Corp. has an average rating of “Hold” and an average target price of $70.47.
The company has a 50 day moving average price of $68.70 and a 200-day moving average price of $63.65. The firm has a market cap of $11.20 billion and a P/E ratio of 14.96.
Dover Corp. (NYSE:DOV) last released its quarterly earnings results on Thursday, April 21st. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by $0.08. During the same quarter in the previous year, the business earned $0.72 EPS. The business earned $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. The company’s revenue was down 5.4% on a year-over-year basis. On average, equities research analysts forecast that Dover Corp. will post $3.48 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st were given a $0.42 dividend. The ex-dividend date was Thursday, May 26th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.36%.
Other large investors recently added to or reduced their stakes in the company. Pzena Investment Management LLC raised its stake in Dover Corp. by 151.1% in the fourth quarter. Pzena Investment Management LLC now owns 5,671,522 shares of the company’s stock worth $347,721,000 after buying an additional 3,413,250 shares during the period. WBI Investments Inc. bought a new stake in Dover Corp. during the fourth quarter worth approximately $41,596,000. Winton Capital Group Ltd raised its stake in Dover Corp. by 116.3% in the fourth quarter. Winton Capital Group Ltd now owns 515,758 shares of the company’s stock worth $31,621,000 after buying an additional 277,282 shares during the period. Vanguard Group Inc. raised 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 period. Finally, Morgan Stanley raised 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 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.