Dover Corporation (NYSE:DOV) shares gapped down before the market opened on Thursday . The stock had previously closed at $99.12, but opened at $93.57. Dover Corporation shares last traded at $89.50, with a volume of 2,895,131 shares trading hands.
Several brokerages recently issued reports on DOV. BidaskClub raised Dover Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $90.00 target price (up from $89.00) on shares of Dover Corporation in a research report on Thursday, July 6th. Zacks Investment Research lowered Dover Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Stifel Nicolaus upped their target price on Dover Corporation from $88.00 to $91.00 and gave the company a “hold” rating in a research report on Friday, July 21st. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $95.00 target price on shares of Dover Corporation in a research report on Tuesday, September 12th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Dover Corporation has a consensus rating of “Hold” and a consensus price target of $94.23.
The company has a 50 day moving average price of $90.98 and a 200 day moving average price of $84.38. The company has a market cap of $13.94 billion, a PE ratio of 22.38 and a beta of 1.27.
Dover Corporation (NYSE:DOV) last released its earnings results on Thursday, October 19th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.04. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter in the previous year, the firm posted $0.83 EPS. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. Analysts expect that Dover Corporation will post $4.29 EPS for the current fiscal year.
In other Dover Corporation news, Director Michael B. Stubbs sold 25,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 275,344 shares in the company, valued at approximately $23,965,941.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.50% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Frontier Investment Mgmt Co. boosted its stake in shares of Dover Corporation by 0.7% during the 2nd quarter. Frontier Investment Mgmt Co. now owns 123,304 shares of the industrial products company’s stock worth $9,891,000 after acquiring an additional 881 shares in the last quarter. Achmea Investment Management B.V. purchased a new stake in shares of Dover Corporation during the 2nd quarter worth approximately $278,000. Sentry Investment Management LLC boosted its stake in shares of Dover Corporation by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 10,900 shares of the industrial products company’s stock worth $874,000 after acquiring an additional 117 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Dover Corporation by 2.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 123,325 shares of the industrial products company’s stock worth $9,893,000 after acquiring an additional 2,420 shares in the last quarter. Finally, Koch Industries Inc. purchased a new stake in shares of Dover Corporation during the 2nd quarter worth approximately $236,000. 86.01% of the stock is currently owned by institutional investors and hedge funds.
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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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