Dover Corporation (NYSE:DOV)‘s stock had its “outperform” rating restated by Royal Bank of Canada in a research report issued to clients and investors on Thursday. They currently have a $90.00 target price on the industrial products company’s stock, up from their prior target price of $89.00. Royal Bank of Canada’s price objective suggests a potential upside of 8.21% from the stock’s previous close.
Other equities analysts also recently issued research reports about the stock. Seaport Global Securities restated a “buy” rating on shares of Dover Corporation in a research note on Monday, June 5th. Bank of America Corporation boosted their price target on shares of Dover Corporation from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, June 9th. Barclays PLC boosted their price target on shares of Dover Corporation from $78.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 19th. CIBC restated a “hold” rating on shares of Dover Corporation in a research note on Wednesday, May 24th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Dover Corporation in a research report on Tuesday, May 23rd. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $85.40.
Shares of Dover Corporation (DOV) opened at 83.17 on Thursday. Dover Corporation has a 12-month low of $65.50 and a 12-month high of $84.40. The firm’s 50-day moving average price is $81.54 and its 200-day moving average price is $79.42. The stock has a market cap of $12.95 billion, a price-to-earnings ratio of 22.48 and a beta of 1.27.
Dover Corporation (NYSE:DOV) last posted its quarterly earnings results on Thursday, April 20th. The industrial products company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.48. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.77 billion. Dover Corporation had a net margin of 8.33% and a return on equity of 12.93%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, analysts forecast that Dover Corporation will post $4.20 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were given a $0.44 dividend. The ex-dividend date was Friday, May 26th. This represents a $1.76 dividend on an annualized basis and a yield of 2.12%. Dover Corporation’s dividend payout ratio (DPR) is presently 47.44%.
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In related news, VP C. Anderson Fincher sold 15,638 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $79.85, for a total value of $1,248,694.30. Following the completion of the sale, the vice president now directly owns 32,842 shares of the company’s stock, valued at $2,622,433.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP William Spurgeon sold 7,864 shares of the business’s stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $81.25, for a total transaction of $638,950.00. Following the completion of the sale, the vice president now directly owns 39,155 shares of the company’s stock, valued at $3,181,343.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,502 shares of company stock valued at $5,216,444. 2.50% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. raised its position in Dover Corporation by 7.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,584 shares of the industrial products company’s stock worth $690,000 after buying an additional 625 shares in the last quarter. Bank of America Corp DE raised its position in Dover Corporation by 9.4% in the first quarter. Bank of America Corp DE now owns 6,446,209 shares of the industrial products company’s stock worth $517,953,000 after buying an additional 553,136 shares in the last quarter. Candriam Luxembourg S.C.A. raised its position in Dover Corporation by 32.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 14,205 shares of the industrial products company’s stock worth $1,141,000 after buying an additional 3,477 shares in the last quarter. Gulf International Bank UK Ltd raised its position in Dover Corporation by 1.7% in the first quarter. Gulf International Bank UK Ltd now owns 48,908 shares of the industrial products company’s stock worth $3,929,000 after buying an additional 800 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new position in Dover Corporation during the first quarter worth approximately $6,512,000. 85.10% of the stock is owned by hedge funds and other institutional investors.
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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