Dover Corp (NYSE:DOV) – William Blair increased their FY2019 earnings per share estimates for Dover in a research note issued on Friday, October 18th. William Blair analyst L. De. Maria now expects that the industrial products company will post earnings of $5.85 per share for the year, up from their prior estimate of $5.81. William Blair also issued estimates for Dover’s Q4 2019 earnings at $1.46 EPS and FY2020 earnings at $6.20 EPS.
Dover (NYSE:DOV) last posted its earnings results on Thursday, October 17th. The industrial products company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.51 by $0.09. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.81 billion. Dover had a net margin of 9.08% and a return on equity of 29.62%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.36 earnings per share.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Dover from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Tuesday. Citigroup boosted their target price on shares of Dover from $113.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Morgan Stanley upped their price objective on shares of Dover from $103.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Royal Bank of Canada set a $96.00 price objective on shares of Dover and gave the stock a “hold” rating in a research report on Friday, October 18th. Finally, Barclays upped their price objective on shares of Dover from $112.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $101.84.
NYSE:DOV opened at $104.12 on Monday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.42 and a quick ratio of 0.97. The firm has a 50-day moving average of $97.57 and a 200-day moving average of $96.10. The company has a market cap of $14.85 billion, a PE ratio of 20.95, a PEG ratio of 1.52 and a beta of 1.47. Dover has a one year low of $65.83 and a one year high of $104.57.
In other Dover news, VP William Spurgeon sold 20,049 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $98.42, for a total value of $1,973,222.58. Following the completion of the sale, the vice president now directly owns 5,296 shares of the company’s stock, valued at approximately $521,232.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brad M. Cerepak sold 9,918 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $90.93, for a total transaction of $901,843.74. The disclosure for this sale can be found here. Insiders sold a total of 45,383 shares of company stock valued at $4,385,834 over the last ninety days. 1.70% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Dover by 44.9% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,936 shares of the industrial products company’s stock valued at $194,000 after buying an additional 600 shares in the last quarter. Highstreet Asset Management Inc. bought a new position in shares of Dover during the 2nd quarter valued at $462,000. Amica Mutual Insurance Co. bought a new position in shares of Dover during the 2nd quarter valued at $414,000. Mn Services Vermogensbeheer B.V. grew its holdings in shares of Dover by 199.0% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 74,225 shares of the industrial products company’s stock valued at $7,437,000 after purchasing an additional 49,400 shares during the last quarter. Finally, Krane Funds Advisors LLC bought a new position in shares of Dover during the 2nd quarter valued at $26,000. 85.98% of the stock is owned by hedge funds and other institutional investors.
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.
Featured Article: Cost of equity and a company’s balance sheet
Receive News & Ratings for Dover Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover and related companies with MarketBeat.com's FREE daily email newsletter.