Dover Corp (NYSE:DOV) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $90.33 and last traded at $90.37, with a volume of 29059 shares changing hands. The stock had previously closed at $87.39.
A number of equities research analysts have recently issued reports on the stock. SunTrust Banks upped their target price on shares of Dover to $91.00 and gave the company a “hold” rating in a research note on Wednesday, January 30th. They noted that the move was a valuation call. Oppenheimer restated a “hold” rating on shares of Dover in a research note on Tuesday, January 29th. Zacks Investment Research lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Tuesday, November 13th. Barclays upped their target price on shares of Dover from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Friday, October 19th. Finally, BMO Capital Markets upped their target price on shares of Dover from $90.00 to $91.00 and gave the company a “market perform” rating in a research note on Friday, October 19th. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $89.18.
The company has a market capitalization of $12.79 billion, a price-to-earnings ratio of 18.15, a P/E/G ratio of 1.26 and a beta of 1.51. The company has a current ratio of 1.37, a quick ratio of 0.96 and a debt-to-equity ratio of 1.06.
Dover (NYSE:DOV) last issued its quarterly earnings results on Tuesday, January 29th. The industrial products company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.14. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. Dover had a net margin of 7.84% and a return on equity of 24.90%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.84 EPS. On average, research analysts predict that Dover Corp will post 5.75 EPS for the current year.
In related news, SVP Jay L. Kloosterboer sold 12,363 shares of the stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $87.53, for a total transaction of $1,082,133.39. Following the completion of the sale, the senior vice president now directly owns 23,827 shares of the company’s stock, valued at $2,085,577.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP William Spurgeon sold 13,102 shares of the stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $87.19, for a total transaction of $1,142,363.38. Following the sale, the vice president now directly owns 6,393 shares of the company’s stock, valued at $557,405.67. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Lavaca Capital LLC purchased a new stake in shares of Dover in the 4th quarter valued at approximately $25,000. Riverview Trust Co purchased a new stake in shares of Dover in the 4th quarter valued at approximately $26,000. Private Capital Group LLC lifted its position in shares of Dover by 252.2% in the 4th quarter. Private Capital Group LLC now owns 398 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 285 shares in the last quarter. Athena Capital Advisors LLC purchased a new stake in shares of Dover in the 4th quarter valued at approximately $30,000. Finally, First Command Bank purchased a new stake in shares of Dover in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 91.53% of the company’s stock.
Dover Company Profile (NYSE:DOV)
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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