Dover Corporation (DOV) Given “Neutral” Rating at Seaport Global Securities
Seaport Global Securities reissued their neutral rating on shares of Dover Corporation (NYSE:DOV) in a research note issued to investors on Wednesday morning. Seaport Global Securities also issued estimates for Dover Corporation’s Q3 2017 earnings at $1.14 EPS, Q4 2017 earnings at $0.96 EPS, FY2017 earnings at $3.85 EPS, Q1 2018 earnings at $0.76 EPS, Q2 2018 earnings at $1.13 EPS, Q3 2018 earnings at $1.22 EPS, Q4 2018 earnings at $1.04 EPS and FY2018 earnings at $4.15 EPS.
DOV has been the subject of several other research reports. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Dover Corporation in a report on Wednesday, June 7th. BidaskClub raised shares of Dover Corporation from a hold rating to a buy rating in a report on Thursday, July 6th. Bank of America Corporation upped their target price on shares of Dover Corporation from $90.00 to $95.00 and gave the stock a buy rating in a report on Friday, June 9th. Zacks Investment Research downgraded shares of Dover Corporation from a buy rating to a hold rating in a report on Monday, July 31st. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $87.00 target price on shares of Dover Corporation in a report on Thursday, July 6th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $89.42.
Dover Corporation (DOV) opened at 89.81 on Wednesday. Dover Corporation has a 1-year low of $65.50 and a 1-year high of $90.35. The firm has a market cap of $13.99 billion, a price-to-earnings ratio of 22.45 and a beta of 1.26. The firm has a 50-day moving average price of $85.69 and a 200 day moving average price of $82.03.
Dover Corporation (NYSE:DOV) last issued its quarterly earnings data on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.94 billion. Dover Corporation had a net margin of 8.61% and a return on equity of 13.36%. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 EPS. Equities analysts predict that Dover Corporation will post $4.29 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were paid a $0.47 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $1.88 annualized dividend and a yield of 2.09%. This is a boost from Dover Corporation’s previous quarterly dividend of $0.44. Dover Corporation’s payout ratio is presently 47.12%.
In other news, Director Michael B. Stubbs sold 25,000 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the sale, the director now directly owns 275,344 shares in the company, valued at approximately $23,965,941.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in DOV. BlackRock Inc. raised its position in shares of Dover Corporation by 1,664.3% during the 1st quarter. BlackRock Inc. now owns 9,924,852 shares of the industrial products company’s stock valued at $797,462,000 after buying an additional 9,362,330 shares in the last quarter. Cramer Rosenthal Mcglynn LLC raised its position in shares of Dover Corporation by 132.6% during the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,797,775 shares of the industrial products company’s stock valued at $144,218,000 after buying an additional 1,024,890 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Dover Corporation by 108.3% during the 2nd quarter. Bessemer Group Inc. now owns 1,598,035 shares of the industrial products company’s stock valued at $128,193,000 after buying an additional 830,946 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Dover Corporation by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 16,178,861 shares of the industrial products company’s stock valued at $1,299,971,000 after buying an additional 792,862 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Dover Corporation by 9.4% during the 1st quarter. Bank of America Corp DE now owns 6,446,209 shares of the industrial products company’s stock valued at $517,953,000 after buying an additional 553,136 shares in the last quarter. Hedge funds and other institutional investors own 86.06% of the company’s stock.
Dover Corporation Company Profile
Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.
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