Dover Corporation (NYSE:DOV) – Research analysts at Oppenheimer Holdings lifted their Q3 2017 earnings estimates for shares of Dover Corporation in a research report issued on Thursday. Oppenheimer Holdings analyst J. Giannakouros now anticipates that the industrial products company will earn $1.12 per share for the quarter, up from their previous estimate of $1.06. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Dover Corporation’s Q4 2017 earnings at $0.99 EPS and FY2018 earnings at $4.45 EPS.
Dover Corporation (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 20th. The industrial products company reported $1.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.03. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Dover Corporation had a net margin of 8.61% and a return on equity of 13.36%. Dover Corporation’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.76 earnings per share.
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Several other brokerages have also commented on DOV. Royal Bank Of Canada restated an “outperform” rating and issued a $90.00 price objective (up from $89.00) on shares of Dover Corporation in a report on Thursday, July 6th. Citigroup Inc. upped their price objective on shares of Dover Corporation from $84.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, April 11th. Stifel Nicolaus upped their price objective on shares of Dover Corporation from $88.00 to $91.00 and gave the stock a “hold” rating in a report on Friday. BMO Capital Markets upgraded shares of Dover Corporation from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $89.00 to $82.00 in a report on Thursday, June 8th. Finally, Zacks Investment Research upgraded shares of Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a report on Tuesday, July 18th. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Dover Corporation presently has an average rating of “Hold” and a consensus target price of $87.73.
Shares of Dover Corporation (NYSE:DOV) opened at 83.95 on Monday. Dover Corporation has a 12-month low of $65.50 and a 12-month high of $85.31. The firm has a 50-day moving average of $82.08 and a 200-day moving average of $80.30. The firm has a market capitalization of $13.07 billion, a PE ratio of 20.99 and a beta of 1.27.
A number of hedge funds have recently made changes to their positions in DOV. Tributary Capital Management LLC increased its stake in shares of Dover Corporation by 54.7% in the second quarter. Tributary Capital Management LLC now owns 16,394 shares of the industrial products company’s stock valued at $1,315,000 after buying an additional 5,800 shares during the period. Duncker Streett & Co. Inc. boosted its position in Dover Corporation by 5.1% in the second quarter. Duncker Streett & Co. Inc. now owns 16,820 shares of the industrial products company’s stock valued at $1,349,000 after buying an additional 810 shares in the last quarter. APG Asset Management N.V. boosted its position in Dover Corporation by 6.1% in the second quarter. APG Asset Management N.V. now owns 157,987 shares of the industrial products company’s stock valued at $12,674,000 after buying an additional 9,100 shares in the last quarter. Parthenon LLC boosted its position in Dover Corporation by 0.4% in the second quarter. Parthenon LLC now owns 112,272 shares of the industrial products company’s stock valued at $9,006,000 after buying an additional 470 shares in the last quarter. Finally, Asset Advisors Corp boosted its position in Dover Corporation by 0.8% in the second quarter. Asset Advisors Corp now owns 137,090 shares of the industrial products company’s stock valued at $10,997,000 after buying an additional 1,100 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors.
In related news, VP C. Anderson Fincher sold 15,638 shares of the stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $79.85, for a total transaction of $1,248,694.30. Following the sale, the vice president now directly owns 32,842 shares of the company’s stock, valued at approximately $2,622,433.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William Spurgeon sold 7,864 shares of the stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $81.25, for a total transaction of $638,950.00. Following the sale, the vice president now directly owns 39,155 shares in the company, valued at $3,181,343.75. The disclosure for this sale can be found here. Insiders have sold a total of 63,502 shares of company stock worth $5,216,444 over the last three months. 2.50% of the stock is currently owned by insiders.
About Dover Corporation
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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