Shares of Dover Corp (NYSE:DOV) have been given an average rating of “Hold” by the nineteen analysts that are presently covering the company, Marketbeat reports. Eleven analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $94.10.
Several equities research analysts have commented on the stock. Robert W. Baird lowered shares of Dover from an “outperform” rating to a “neutral” rating in a research report on Monday, April 22nd. Zacks Investment Research upgraded shares of Dover from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research report on Wednesday, April 24th. Barclays boosted their price objective on shares of Dover from $93.00 to $99.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 3rd. ValuEngine upgraded shares of Dover from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Finally, Morgan Stanley boosted their price objective on shares of Dover from $97.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Monday, April 22nd.
Hedge funds have recently made changes to their positions in the stock. WealthPLAN Partners LLC increased its stake in shares of Dover by 5.9% during the 1st quarter. WealthPLAN Partners LLC now owns 44,944 shares of the industrial products company’s stock valued at $4,325,000 after acquiring an additional 2,500 shares during the last quarter. FMR LLC increased its stake in shares of Dover by 32.3% during the 1st quarter. FMR LLC now owns 167,288 shares of the industrial products company’s stock valued at $15,692,000 after acquiring an additional 40,841 shares during the last quarter. Horizon Investments LLC increased its stake in shares of Dover by 9.2% during the 1st quarter. Horizon Investments LLC now owns 29,005 shares of the industrial products company’s stock valued at $2,720,000 after acquiring an additional 2,455 shares during the last quarter. Cleararc Capital Inc. acquired a new position in shares of Dover during the 1st quarter valued at about $228,000. Finally, Dixon Hubard Feinour & Brown Inc. VA acquired a new position in shares of Dover during the 1st quarter valued at about $234,000. 84.83% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE DOV traded up $1.66 during trading on Monday, hitting $100.20. 1,916,963 shares of the company were exchanged, compared to its average volume of 784,152. The stock has a market cap of $14.32 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 1.47 and a beta of 1.48. Dover has a 1 year low of $65.83 and a 1 year high of $100.43. The stock has a fifty day moving average price of $94.82. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.87 and a current ratio of 1.30.
Dover (NYSE:DOV) last issued its earnings results on Thursday, April 18th. The industrial products company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.12 by $0.12. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. Dover had a net margin of 7.69% and a return on equity of 28.48%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS. As a group, sell-side analysts forecast that Dover will post 5.82 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.92%. The ex-dividend date was Thursday, May 30th. Dover’s payout ratio is 38.63%.
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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