Dover Corp. (DOV) Sets New 52-Week High at $74.90
Dover Corp. (NYSE:DOV) reached a new 52-week high on Tuesday . The stock traded as high as $74.90 and last traded at $74.38, with a volume of 351,796 shares traded. The stock had previously closed at $74.31.
Several research firms have recently weighed in on DOV. Barclays PLC raised their price objective on Dover Corp. from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Monday, July 18th. Sanford C. Bernstein raised Dover Corp. from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $75.00 to $87.00 in a research note on Friday, June 10th. Citigroup Inc. raised their price objective on Dover Corp. from $70.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 8th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Dover Corp. in a research note on Wednesday, June 8th. Finally, Robert W. Baird raised Dover Corp. from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $66.00 to $86.00 in a research note on Wednesday, June 8th. Two equities research 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’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $70.87.
The firm’s 50-day moving average is $72.34 and its 200-day moving average is $67.00. The company has a market cap of $11.43 billion and a P/E ratio of 21.17.
Dover Corp. (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.85 by $0.09. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. Dover Corp.’s quarterly revenue was down 4.1% on a year-over-year basis. Equities research analysts anticipate that Dover Corp. will post $3.34 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, August 29th. This is a positive change from Dover Corp.’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 2.39%.
In other Dover Corp. news, CEO Robert Livingston sold 25,927 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $69.24, for a total transaction of $1,795,185.48. Following the sale, the chief executive officer now directly owns 192,630 shares of the company’s stock, valued at approximately $13,337,701.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP C. Anderson Fincher sold 1,420 shares of the business’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $73.42, for a total transaction of $104,256.40. Following the sale, the vice president now directly owns 40,326 shares in the company, valued at $2,960,734.92. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Dover Corp. stock. Principal Financial Group Inc. raised its stake in Dover Corp. (NYSE:DOV) by 1.1% during the fourth quarter, according to its most recent filing with the SEC. The fund 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 filing with the SEC.
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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