Wall Street analysts expect that Dover Corp (NYSE:DOV) will announce sales of $1.86 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Dover’s earnings. The lowest sales estimate is $1.84 billion and the highest is $1.88 billion. Dover reported sales of $1.80 billion during the same quarter last year, which indicates a positive year over year growth rate of 3.3%. The company is expected to announce its next earnings report on Thursday, July 18th.
According to Zacks, analysts expect that Dover will report full year sales of $7.25 billion for the current financial year, with estimates ranging from $7.22 billion to $7.31 billion. For the next financial year, analysts expect that the business will post sales of $7.50 billion, with estimates ranging from $7.38 billion to $7.59 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Dover.
Dover (NYSE:DOV) last released its earnings results on Thursday, April 18th. The industrial products company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.12. Dover had a net margin of 7.69% and a return on equity of 28.48%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the previous year, the business earned $0.90 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year.
DOV has been the subject of a number of analyst reports. ValuEngine raised shares of Dover from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Zacks Investment Research raised shares of Dover from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Wednesday, April 24th. Citigroup set a $113.00 price target on shares of Dover and gave the company a “buy” rating in a report on Monday, April 22nd. Morgan Stanley boosted their price target on shares of Dover from $97.00 to $101.00 and gave the company an “equal weight” rating in a report on Monday, April 22nd. Finally, SunTrust Banks boosted their price target on shares of Dover to $91.00 and gave the company a “hold” rating in a report on Wednesday, January 30th. They noted that the move was a valuation call. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Dover currently has an average rating of “Hold” and an average target price of $94.10.
In related news, VP Carrie L. Anderson sold 9,038 shares of the business’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $91.95, for a total value of $831,044.10. Following the sale, the vice president now directly owns 4,192 shares of the company’s stock, valued at approximately $385,454.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Anthony K. Kosinski sold 4,241 shares of the business’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $90.53, for a total transaction of $383,937.73. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in Dover by 3.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,827,415 shares of the industrial products company’s stock worth $781,489,000 after buying an additional 288,630 shares in the last quarter. Neuberger Berman Group LLC lifted its position in Dover by 41.6% during the 3rd quarter. Neuberger Berman Group LLC now owns 981,926 shares of the industrial products company’s stock worth $86,930,000 after buying an additional 288,540 shares in the last quarter. Legal & General Group Plc lifted its position in Dover by 12.1% during the 3rd quarter. Legal & General Group Plc now owns 822,915 shares of the industrial products company’s stock worth $72,853,000 after buying an additional 88,541 shares in the last quarter. DNB Asset Management AS lifted its position in Dover by 13.4% during the 4th quarter. DNB Asset Management AS now owns 30,785 shares of the industrial products company’s stock worth $2,184,000 after buying an additional 3,647 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. bought a new stake in Dover during the 4th quarter worth about $71,000. 85.85% of the stock is currently owned by institutional investors and hedge funds.
DOV traded up $0.83 during trading on Friday, reaching $95.18. 18,026 shares of the company’s stock were exchanged, compared to its average volume of 1,067,154. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.87 and a current ratio of 1.30. Dover has a fifty-two week low of $65.83 and a fifty-two week high of $99.46. The firm has a market capitalization of $13.71 billion, a PE ratio of 19.09, a P/E/G ratio of 1.43 and a beta of 1.49.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be given a $0.48 dividend. The ex-dividend date is Thursday, May 30th. This represents a $1.92 annualized dividend and a yield of 2.02%. Dover’s dividend payout ratio is currently 38.63%.
Dover Company Profile
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through 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 and 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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