Investors Sell Shares of Dover Corp. (DOV) on Strength (DOV)
Traders sold shares of Dover Corp. (NYSE:DOV) on strength during trading on Friday. $10.77 million flowed into the stock on the tick-up and $24.62 million flowed out of the stock on the tick-down, for a money net flow of $13.85 million out of the stock. Of all equities tracked, Dover Corp. had the 0th highest net out-flow for the day. Dover Corp. traded up $0.54 for the day and closed at $73.11
DOV has been the subject of several recent analyst reports. SunTrust Banks Inc. downgraded Dover Corp. from a “buy” rating to a “neutral” rating and cut their price objective for the company from $69.00 to $67.00 in a report on Monday, March 21st. Zacks Investment Research downgraded Dover Corp. from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 29th. Morgan Stanley increased their price objective on Dover Corp. from $64.00 to $65.00 in a report on Thursday, April 7th. Citigroup Inc. increased their price objective on Dover Corp. from $62.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, April 19th. Finally, Barclays PLC raised their price target on Dover Corp. from $63.00 to $65.00 and gave the company an “equal weight” rating in a report on Friday, April 22nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $70.47.
The firm has a market cap of $11.34 billion and a PE ratio of 15.16. The stock’s 50-day moving average price is $69.47 and its 200-day moving average price is $63.92.
Dover Corp. (NYSE:DOV) last posted its quarterly earnings data on Thursday, April 21st. The company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by $0.08. During the same quarter in the prior year, the company posted $0.72 earnings per share. The business earned $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. The company’s revenue was down 5.4% on a year-over-year basis. On average, equities analysts forecast that Dover Corp. will post $3.47 EPS for the current year.
A number of hedge funds and institutional investors have bought and sold shares of DOV. Pittenger & Anderson Inc. boosted its position in Dover Corp. by 4.4% in the fourth quarter. Pittenger & Anderson Inc. now owns 18,325 shares of the company’s stock valued at $1,123,000 after buying an additional 780 shares in the last quarter. CNA Financial Corp boosted its position in shares of 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 in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its position in shares of 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 in the last quarter. Pinnacle Associates Ltd. boosted its position in shares of 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 in the last quarter. Finally, Nuance Investments LLC boosted its position in shares of Dover Corp. by 4.7% in the fourth quarter. Nuance Investments LLC now owns 25,571 shares of the company’s stock worth $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.