Shares of Dover Corporation (NYSE:DOV) have been assigned a consensus recommendation of “Hold” from the twenty research firms that are currently covering the stock. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $72.79.
Several equities analysts have commented on DOV shares. Stifel Nicolaus increased their price target on shares of Dover Corporation from $76.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, January 27th. RBC Capital Markets reiterated a “sector perform” rating and issued a $71.00 price target (up from $68.00) on shares of Dover Corporation in a research note on Thursday, December 15th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Dover Corporation in a research note on Thursday, December 29th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Dover Corporation in a research note on Thursday, December 15th. Finally, Zacks Investment Research upgraded shares of Dover Corporation from a “strong sell” rating to a “hold” rating in a research note on Monday, December 12th.
Dover Corporation (NYSE:DOV) opened at 79.98 on Tuesday. The company has a 50 day moving average of $78.38 and a 200 day moving average of $73.25. Dover Corporation has a 1-year low of $57.39 and a 1-year high of $82.32. The firm has a market capitalization of $12.44 billion, a PE ratio of 24.61 and a beta of 1.18.
Dover Corporation (NYSE:DOV) last announced its quarterly earnings results on Thursday, January 26th. The company reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by $0.24. The company earned $1.80 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Dover Corporation had a net margin of 7.49% and a return on equity of 12.35%. The business’s revenue for the quarter was down 89.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 earnings per share. Analysts forecast that Dover Corporation will post $3.58 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, February 24th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.20%. Dover Corporation’s dividend payout ratio (DPR) is presently 53.99%.
Several institutional investors have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. raised its position in Dover Corporation by 314.0% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,391 shares of the company’s stock worth $102,000 after buying an additional 1,055 shares during the period. FNY Partners Fund LP purchased a new position in Dover Corporation during the fourth quarter worth $112,000. Johnson Financial Group Inc. raised its position in Dover Corporation by 2.6% in the fourth quarter. Johnson Financial Group Inc. now owns 1,556 shares of the company’s stock worth $117,000 after buying an additional 40 shares during the period. Penserra Capital Management LLC raised its position in Dover Corporation by 94.8% in the third quarter. Penserra Capital Management LLC now owns 1,784 shares of the company’s stock worth $130,000 after buying an additional 868 shares during the period. Finally, Feltz Wealth PLAN Inc. purchased a new position in Dover Corporation during the second quarter worth $150,000. Institutional investors and hedge funds own 84.57% of the company’s stock.
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About Dover Corporation
Dover Corporation (Dover) is engaged in the manufacturing of equipment, components and specialty systems. The Company also provides supporting engineering, testing and other services. The Company operates through four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for production and processing of fuels across the world.
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