Dover (DOV) Sets New 52-Week High at $100.05
Dover Corp (NYSE:DOV) shares reached a new 52-week high on Tuesday . The stock traded as high as $100.05 and last traded at $99.93, with a volume of 924495 shares. The stock had previously closed at $99.27.
Several research analysts have recently weighed in on the stock. Stifel Nicolaus restated a “hold” rating and set a $100.00 price objective on shares of Dover in a research note on Thursday, December 14th. Morgan Stanley restated an “overweight” rating and set a $106.00 price objective (up from $97.00) on shares of Dover in a research note on Monday, October 2nd. ValuEngine lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. SunTrust Banks restated a “hold” rating and set a $96.00 price objective on shares of Dover in a research note on Monday, October 23rd. Finally, Zacks Investment Research upgraded shares of Dover from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a research note on Tuesday, October 17th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $95.31.
The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.87 and a current ratio of 1.32. The firm has a market capitalization of $15,186.52, a price-to-earnings ratio of 27.00, a PEG ratio of 1.90 and a beta of 1.29.
Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, October 19th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.05. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.99 billion. Dover had a net margin of 8.91% and a return on equity of 14.10%. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.83 EPS. equities analysts predict that Dover Corp will post 3.94 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Wednesday, November 29th. Dover’s dividend payout ratio is currently 43.72%.
In other Dover news, Director Michael B. Stubbs sold 41,505 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $95.67, for a total value of $3,970,783.35. Following the completion of the sale, the director now owns 275,344 shares of the company’s stock, valued at approximately $26,342,160.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William T. Bosway sold 6,087 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $94.66, for a total transaction of $576,195.42. Following the completion of the sale, the vice president now directly owns 21,877 shares of the company’s stock, valued at approximately $2,070,876.82. The disclosure for this sale can be found here. Insiders sold a total of 65,276 shares of company stock valued at $6,234,042 in the last three months. Insiders own 2.50% of the company’s stock.
Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Dover by 11.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,962,208 shares of the industrial products company’s stock worth $398,069,000 after acquiring an additional 511,469 shares during the period. Geneva Advisors LLC lifted its holdings in shares of Dover by 25.3% during the 2nd quarter. Geneva Advisors LLC now owns 5,763 shares of the industrial products company’s stock worth $462,000 after acquiring an additional 1,162 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Dover by 21.7% during the 3rd quarter. Victory Capital Management Inc. now owns 25,466 shares of the industrial products company’s stock worth $2,327,000 after acquiring an additional 4,534 shares during the period. Nuance Investments LLC lifted its holdings in shares of Dover by 9.5% during the 2nd quarter. Nuance Investments LLC now owns 38,146 shares of the industrial products company’s stock worth $3,060,000 after acquiring an additional 3,310 shares during the period. Finally, Magnetar Financial LLC bought a new stake in shares of Dover during the 3rd quarter worth approximately $22,066,000. 84.43% of the stock is owned by institutional investors.
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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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