Gordon Haskett started coverage on shares of Dover (NYSE:DOV) in a report released on Friday, Marketbeat Ratings reports. The brokerage issued a buy rating on the industrial products company’s stock.
A number of other research firms have also recently commented on DOV. Barclays increased their target price on shares of Dover to $96.00 and gave the stock an overweight rating in a report on Wednesday, September 12th. Bank of America increased their target price on shares of Dover from $95.00 to $105.00 and gave the stock a buy rating in a report on Wednesday, September 26th. Morgan Stanley dropped their target price on shares of Dover from $88.00 to $83.00 and set an overweight rating for the company in a report on Friday, July 20th. BMO Capital Markets dropped their target price on shares of Dover to $98.00 and set a positive rating for the company in a report on Monday, June 18th. Finally, Stifel Nicolaus increased their target price on shares of Dover from $85.00 to $92.00 and gave the stock a hold rating in a report on Wednesday, September 12th. Thirteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $90.77.
Shares of DOV stock traded up $0.84 on Friday, reaching $82.18. The company had a trading volume of 1,997,904 shares, compared to its average volume of 1,711,858. The stock has a market capitalization of $13.08 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 1.53 and a beta of 1.34. The company has a current ratio of 1.35, a quick ratio of 0.93 and a debt-to-equity ratio of 1.05. Dover has a one year low of $70.12 and a one year high of $90.26.
Dover (NYSE:DOV) last posted its earnings results on Thursday, July 19th. The industrial products company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.09. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Dover had a net margin of 9.64% and a return on equity of 18.66%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.04 earnings per share. As a group, equities analysts predict that Dover will post 4.82 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Friday, August 31st were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, August 30th. This is a positive change from Dover’s previous quarterly dividend of $0.47. Dover’s dividend payout ratio (DPR) is 47.64%.
In related news, Director Kristiane C. Graham sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $82.75, for a total value of $4,137,500.00. Following the completion of the transaction, the director now owns 367,324 shares in the company, valued at approximately $30,396,061. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.60% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Winthrop Partners WNY LLC bought a new position in Dover in the 1st quarter valued at approximately $126,000. Fort L.P. bought a new position in Dover in the 2nd quarter valued at approximately $118,000. Centaurus Financial Inc. bought a new position in Dover in the 2nd quarter valued at approximately $127,000. Piedmont Investment Advisors LLC bought a new position in Dover in the 2nd quarter valued at approximately $133,000. Finally, Lourd Capital LLC bought a new position in Dover in the 3rd quarter valued at approximately $214,000. Institutional investors and hedge funds own 90.73% of the company’s stock.
Dover Company Profile
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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