Dover (DOV) – Research Analysts’ Recent Ratings Updates

Several analysts have recently updated their ratings and price targets for Dover (NYSE: DOV):

  • 1/11/2019 – Dover was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Backed by improved performances in the Engineered Systems and Fluids segments and expected benefits from its cost containment actions, Dover expects fiscal 2018 earnings per share to be $4.80-$4.85, which represents the top end of the previous guidance. The company is poised to gain from acquisitions, product digitization, e-commerce, new product development, and inorganic investment in core business platforms. Its strong bookings, cost-reduction initiatives and restructuring programs also remain growth drivers. Further, the spin-off of Apergy will help the company by focusing on less volatile core platforms.  The company has a positive record of earnings surprises in the last few quarters. However, inflated input costs due to the imposition of tariffs and impact of weak retail refrigeration markets on Dover’s Refrigeration & Food Equipment segment remain concerns. The stock has underperformed the industry over the past year.”
  • 1/10/2019 – Dover was upgraded by analysts at UBS Group AG from a “neutral” rating to a “buy” rating. They now have a $76.35 price target on the stock.
  • 1/8/2019 – Dover was upgraded by analysts at Wolfe Research from a “market perform” rating to an “outperform” rating.
  • 12/31/2018 – Dover was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Backed by improved performances in the Engineered Systems and Fluids segments and expected benefits from its cost containment actions, Dover expects fiscal 2018 earnings per share to be $4.80-$4.85, which represents the top end of the previous guidance. However, inflated input costs due to the imposition of tariffs and impact of weak retail refrigeration markets on Dover’s Refrigeration & Food Equipment segment remain concerns. The stock had also underperformed the industry over the past year.”
  • 12/18/2018 – Dover was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal” rating. They now have a $89.00 price target on the stock, down previously from $94.00.
  • 12/17/2018 – Dover had its price target lowered by analysts at Barclays PLC from $97.00 to $93.00. They now have an “overweight” rating on the stock.

Shares of DOV stock opened at $77.86 on Monday. The stock has a market capitalization of $11.17 billion, a PE ratio of 19.32, a P/E/G ratio of 1.13 and a beta of 1.39. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 1.09. Dover Corp has a 52-week low of $65.83 and a 52-week high of $90.26.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, October 18th. The industrial products company reported $1.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.07. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Dover had a return on equity of 21.22% and a net margin of 9.69%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 EPS. As a group, equities research analysts expect that Dover Corp will post 4.84 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 17th. Stockholders of record on Friday, November 30th were issued a $0.48 dividend. The ex-dividend date was Thursday, November 29th. This represents a $1.92 annualized dividend and a dividend yield of 2.47%. Dover’s dividend payout ratio (DPR) is presently 47.64%.

In other news, Director Mary A. Winston sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 23rd. The stock was sold at an average price of $82.29, for a total value of $164,580.00. Following the completion of the transaction, the director now owns 13,055 shares of the company’s stock, valued at approximately $1,074,295.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.60% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Cerebellum GP LLC purchased a new position in shares of Dover in the 4th quarter valued at about $123,000. Centaurus Financial Inc. purchased a new position in shares of Dover in the 2nd quarter valued at about $127,000. Federated Investors Inc. PA increased its stake in shares of Dover by 151.5% in the 3rd quarter. Federated Investors Inc. PA now owns 2,128 shares of the industrial products company’s stock valued at $188,000 after purchasing an additional 1,282 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. purchased a new position in shares of Dover in the 3rd quarter valued at about $202,000. Finally, Reliance Trust Co. of Delaware purchased a new position in shares of Dover in the 3rd quarter valued at about $203,000. 90.70% of the stock is owned by institutional investors and hedge funds.

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual clamps, power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.

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