Royal Bank Of Canada reaffirmed their hold rating on shares of Dover Corporation (NYSE:DOV) in a research report sent to investors on Wednesday morning. Royal Bank Of Canada currently has a $91.00 price objective on the industrial products company’s stock.
Several other equities analysts have also commented on the company. Stifel Nicolaus upped their price target on Dover Corporation from $88.00 to $91.00 and gave the company a hold rating in a research note on Friday, July 21st. BidaskClub lowered Dover Corporation from a buy rating to a hold rating in a research note on Thursday, June 22nd. BMO Capital Markets raised Dover Corporation from a market perform rating to an outperform rating and decreased their price target for the company from $89.00 to $82.00 in a research note on Thursday, June 8th. Zacks Investment Research raised Dover Corporation from a hold rating to a buy rating and set a $95.00 price target on the stock in a research note on Tuesday, July 18th. Finally, Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Dover Corporation in a research note on Tuesday, May 23rd. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $89.08.
Dover Corporation (DOV) traded up 1.16% during mid-day trading on Wednesday, reaching $87.30. The company’s stock had a trading volume of 622,468 shares. Dover Corporation has a 12-month low of $65.50 and a 12-month high of $87.63. The firm’s 50 day moving average price is $84.94 and its 200 day moving average price is $81.73. The stock has a market cap of $13.60 billion, a price-to-earnings ratio of 21.83 and a beta of 1.26.
Dover Corporation (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 20th. The industrial products company reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.03. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the company posted $0.76 EPS. The company’s quarterly revenue was up 18.2% on a year-over-year basis. On average, equities analysts predict that Dover Corporation will post $4.31 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Tuesday, August 29th. This is an increase from Dover Corporation’s previous quarterly dividend of $0.44. Dover Corporation’s payout ratio is currently 47.12%.
In other Dover Corporation news, Director Michael B. Stubbs sold 25,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the sale, the director now owns 275,344 shares in the company, valued at approximately $23,965,941.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.50% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. IFP Advisors Inc increased its holdings in Dover Corporation by 15.1% during the 2nd quarter. IFP Advisors Inc now owns 1,728 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 227 shares during the period. Tower Research Capital LLC TRC increased its holdings in Dover Corporation by 5,446.9% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock worth $143,000 after purchasing an additional 1,743 shares during the period. Penserra Capital Management LLC increased its holdings in Dover Corporation by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 1,978 shares of the industrial products company’s stock worth $158,000 after purchasing an additional 172 shares during the period. First Mercantile Trust Co. increased its holdings in Dover Corporation by 16.8% during the 1st quarter. First Mercantile Trust Co. now owns 2,114 shares of the industrial products company’s stock worth $170,000 after purchasing an additional 304 shares during the period. Finally, Dixon Hubard Feinour & Brown Inc. VA purchased a new stake in Dover Corporation during the 1st quarter worth about $200,000. Institutional investors own 86.06% of the company’s stock.
Dover Corporation Company Profile
Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.
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