Dover Corp (NYSE:DOV) – Stock analysts at Oppenheimer boosted their FY2018 EPS estimates for shares of Dover in a research report issued to clients and investors on Wednesday. Oppenheimer analyst J. Giannakouros now expects that the industrial products company will post earnings of $5.85 per share for the year, up from their previous forecast of $4.45. Oppenheimer also issued estimates for Dover’s FY2019 earnings at $6.35 EPS.
Several other analysts also recently commented on DOV. Seaport Global Securities reiterated a “hold” rating and issued a $110.00 price target on shares of Dover in a research report on Friday, February 2nd. SunTrust Banks upped their price target on shares of Dover to $106.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. BMO Capital Markets upped their price target on shares of Dover from $116.00 to $118.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Zacks Investment Research upgraded shares of Dover from a “hold” rating to a “buy” rating and set a $119.00 price target for the company in a research report on Friday, February 2nd. Finally, UBS Group began coverage on shares of Dover in a research report on Monday, January 22nd. They issued a “neutral” rating for the company. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Dover has an average rating of “Hold” and a consensus target price of $104.42.
Dover (NYSE:DOV) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.09. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. Dover had a net margin of 10.37% and a return on equity of 15.24%. The company’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS.
Several large investors have recently bought and sold shares of the company. Ironwood Investment Management LLC acquired a new position in shares of Dover during the 4th quarter worth $207,000. California Public Employees Retirement System grew its stake in shares of Dover by 4.9% during the 4th quarter. California Public Employees Retirement System now owns 436,093 shares of the industrial products company’s stock worth $44,041,000 after purchasing an additional 20,517 shares during the period. Boston Family Office LLC acquired a new position in shares of Dover during the 4th quarter worth $317,000. Teacher Retirement System of Texas acquired a new position in shares of Dover during the 4th quarter worth $4,282,000. Finally, Price Capital Management Inc. acquired a new position in shares of Dover during the 4th quarter worth $643,000. 84.45% of the stock is currently owned by institutional investors and hedge funds.
In other Dover news, VP Paul Goldberg sold 2,430 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $93.50, for a total value of $227,205.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Stephen Gary Kennon sold 2,359 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $94.40, for a total transaction of $222,689.60. Following the completion of the transaction, the senior vice president now directly owns 5,192 shares in the company, valued at $490,124.80. The disclosure for this sale can be found here. Insiders sold a total of 10,876 shares of company stock worth $1,026,090 over the last three months. 2.50% of the stock is currently owned by corporate insiders.
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Dover 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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