Dover Corp. (DOV) Hits New 1-Year High at $74.72
Shares of Dover Corp. (NYSE:DOV) reached a new 52-week high during trading on Monday . The company traded as high as $74.72 and last traded at $74.70, with a volume of 466,423 shares traded. The stock had previously closed at $73.67.
A number of analysts have commented on DOV shares. Robert W. Baird raised shares of Dover Corp. from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $66.00 to $86.00 in a report on Wednesday, June 8th. Bank of America Corp. raised shares of Dover Corp. from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Thursday, May 26th. Zacks Investment Research raised shares of Dover Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 17th. TheStreet raised shares of Dover Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, May 24th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Dover Corp. in a research report on Monday, June 27th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $70.87.
The firm has a 50-day moving average of $71.13 and a 200-day moving average of $66.27. The stock has a market cap of $11.55 billion and a P/E ratio of 21.41.
Dover Corp. (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.76 earnings per share for the quarter, missing the Thomson Reuters’ 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 posted $0.98 EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities research analysts predict that Dover Corp. will post $3.34 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Monday, August 29th. This is a boost from Dover Corp.’s previous quarterly dividend of $0.42.
In other Dover Corp. news, VP C. Anderson Fincher sold 1,420 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $73.42, for a total value of $104,256.40. Following the completion of the sale, the vice president now directly owns 40,326 shares in the company, valued at $2,960,734.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Livingston sold 25,927 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $69.24, for a total transaction of $1,795,185.48. Following the completion of the sale, the chief executive officer now owns 192,630 shares of the company’s stock, valued at $13,337,701.20. The disclosure for this sale can be found here.
Other large investors recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted 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. Principal Financial Group Inc. boosted its stake in Dover Corp. by 1.1% in the fourth quarter. Principal Financial Group Inc. now owns 229,722 shares of the company’s stock worth $14,085,000 after buying an additional 2,388 shares during the last quarter. Cambria Investment Management L.P. bought a new stake in Dover Corp. during the fourth quarter worth approximately $1,246,000. Dimensional Fund Advisors LP boosted 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, Morgan Stanley boosted 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.
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.