Dover Corp (DOV) Receives Consensus Rating of “Hold” from Brokerages

Dover Corp (NYSE:DOV) has been given a consensus recommendation of “Hold” by the seventeen research firms that are covering the firm. Ten analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $77.09.

Several brokerages recently issued reports on DOV. Royal Bank of Canada set a $73.00 price target on shares of Dover Corp and gave the company a “hold” rating in a research report on Thursday, January 26th. Zacks Investment Research upgraded shares of Dover Corp from a “strong sell” rating to a “hold” rating in a research report on Monday, December 12th. Stifel Nicolaus boosted their price target on shares of Dover Corp from $72.00 to $76.00 and gave the company a “hold” rating in a research report on Tuesday, December 13th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Dover Corp in a research report on Thursday, December 29th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Dover Corp in a research report on Thursday, December 15th.

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In other Dover Corp news, VP Sandra A. Arkell sold 1,850 shares of the company’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $79.94, for a total value of $147,889.00. Following the sale, the vice president now owns 10,742 shares in the company, valued at $858,715.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael B. Stubbs sold 20,000 shares of the company’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $80.30, for a total transaction of $1,606,000.00. Following the completion of the sale, the director now owns 277,194 shares in the company, valued at approximately $22,258,678.20. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its stake in shares of Dover Corp by 36.4% in the second quarter. Public Employees Retirement System of Ohio now owns 112,367 shares of the company’s stock worth $7,789,000 after buying an additional 29,976 shares during the period. Kentucky Retirement Systems acquired a new stake in shares of Dover Corp during the second quarter worth $915,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Dover Corp during the second quarter worth $434,000. Peachtree Investment Advisors Inc. boosted its stake in shares of Dover Corp by 0.5% in the third quarter. Peachtree Investment Advisors Inc. now owns 20,280 shares of the company’s stock worth $1,493,000 after buying an additional 100 shares during the period. Finally, Oliver Luxxe Assets LLC acquired a new stake in shares of Dover Corp during the third quarter worth $869,000. Institutional investors and hedge funds own 84.57% of the company’s stock.

Dover Corp (NYSE:DOV) opened at 79.82 on Thursday. The firm’s 50 day moving average is $79.15 and its 200 day moving average is $74.16. The company has a market cap of $12.41 billion, a PE ratio of 24.56 and a beta of 1.18. Dover Corp has a 52-week low of $61.64 and a 52-week high of $82.56.

Dover Corp (NYSE:DOV) last announced its quarterly earnings results on Thursday, January 26th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by $0.24. Dover Corp had a net margin of 7.49% and a return on equity of 12.35%. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. Dover Corp’s quarterly revenue was down 89.5% compared to the same quarter last year. Analysts forecast that Dover Corp will post $3.57 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Friday, February 24th. Dover Corp’s dividend payout ratio (DPR) is presently 53.99%.

About Dover Corp

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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