Dover Corporation (DOV) Receives $92.09 Consensus Target Price from Analysts

Dover Corporation (NYSE:DOV) has earned an average recommendation of “Hold” from the nineteen research firms that are currently covering the stock, MarketBeat.com reports. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $94.20.

Several equities analysts recently commented on DOV shares. Seaport Global Securities lowered Dover Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the company from $91.00 to $86.00 in a report on Wednesday, June 21st. BidaskClub lowered Dover Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $90.00 target price (up previously from $89.00) on shares of Dover Corporation in a report on Thursday, July 6th. Stifel Nicolaus reissued a “hold” rating and issued a $87.00 target price on shares of Dover Corporation in a report on Thursday, July 6th. Finally, Zacks Investment Research raised Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a report on Tuesday, July 18th.

Shares of Dover Corporation (NYSE:DOV) traded down 0.23% on Friday, reaching $93.61. The company had a trading volume of 628,838 shares. The firm’s 50 day moving average is $88.91 and its 200 day moving average is $83.63. Dover Corporation has a 12 month low of $65.50 and a 12 month high of $94.50. The firm has a market capitalization of $14.58 billion, a PE ratio of 23.40 and a beta of 1.27.

Dover Corporation (NYSE:DOV) last posted its earnings results on Thursday, July 20th. The industrial products company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.94 billion. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. Dover Corporation’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.76 earnings per share. On average, equities research analysts expect that Dover Corporation will post $4.29 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were paid a dividend of $0.47 per share. This is an increase from Dover Corporation’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.88 annualized dividend and a dividend yield of 2.01%. Dover Corporation’s dividend payout ratio is 47.12%.

TRADEMARK VIOLATION WARNING: This report was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another website, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The original version of this report can be viewed at https://ledgergazette.com/2017/10/10/dover-corporation-dov-receives-92-09-consensus-target-price-from-analysts.html.

In other news, Director Michael B. Stubbs sold 25,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the completion of the sale, the director now owns 275,344 shares in the company, valued at $23,965,941.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.50% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Dover Corporation by 2.3% during the second quarter. Vanguard Group Inc. now owns 16,549,433 shares of the industrial products company’s stock worth $1,327,596,000 after buying an additional 370,572 shares during the period. BlackRock Inc. boosted its stake in shares of Dover Corporation by 3.9% during the second quarter. BlackRock Inc. now owns 10,314,301 shares of the industrial products company’s stock worth $827,412,000 after buying an additional 389,449 shares during the period. Bank of America Corp DE boosted its stake in shares of Dover Corporation by 9.4% during the first quarter. Bank of America Corp DE now owns 6,446,209 shares of the industrial products company’s stock worth $517,953,000 after buying an additional 553,136 shares during the period. Pzena Investment Management LLC boosted its stake in shares of Dover Corporation by 0.3% during the second quarter. Pzena Investment Management LLC now owns 5,599,307 shares of the industrial products company’s stock worth $449,176,000 after buying an additional 17,738 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Dover Corporation by 11.5% during the second quarter. JPMorgan Chase & Co. now owns 4,962,208 shares of the industrial products company’s stock worth $398,069,000 after buying an additional 511,469

Several equities analysts recently commented on DOV shares. Seaport Global Securities lowered Dover Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the company from $91.00 to $86.00 in a report on Wednesday, June 21st. BidaskClub lowered Dover Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $90.00 target price (up previously from $89.00) on shares of Dover Corporation in a report on Thursday, July 6th. Stifel Nicolaus reissued a “hold” rating and issued a $87.00 target price on shares of Dover Corporation in a report on Thursday, July 6th. Finally, Zacks Investment Research raised Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a report on Tuesday, July 18th.

Shares of Dover Corporation (NYSE:DOV) traded down 0.23% on Friday, reaching $93.61. The company had a trading volume of 628,838 shares. The firm’s 50 day moving average is $88.91 and its 200 day moving average is $83.63. Dover Corporation has a 12 month low of $65.50 and a 12 month high of $94.50. The firm has a market capitalization of $14.58 billion, a PE ratio of 23.40 and a beta of 1.27.

Dover Corporation (NYSE:DOV) last posted its earnings results on Thursday, July 20th. The industrial products company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.94 billion. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. Dover Corporation’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.76 earnings per share. On average, equities research analysts expect that Dover Corporation will post $4.29 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were paid a dividend of $0.47 per share. This is an increase from Dover Corporation’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.88 annualized dividend and a dividend yield of 2.01%. Dover Corporation’s dividend payout ratio is 47.12%.

TRADEMARK VIOLATION WARNING: This report was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another website, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The original version of this report can be viewed at https://ledgergazette.com/2017/10/10/dover-corporation-dov-receives-92-09-consensus-target-price-from-analysts.html.

In other news, Director Michael B. Stubbs sold 25,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the completion of the sale, the director now owns 275,344 shares in the company, valued at $23,965,941.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.50% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Dover Corporation by 2.3% during the second quarter. Vanguard Group Inc. now owns 16,549,433 shares of the industrial products company’s stock worth $1,327,596,000 after buying an additional 370,572 shares during the period. BlackRock Inc. boosted its stake in shares of Dover Corporation by 3.9% during the second quarter. BlackRock Inc. now owns 10,314,301 shares of the industrial products company’s stock worth $827,412,000 after buying an additional 389,449 shares during the period. Bank of America Corp DE boosted its stake in shares of Dover Corporation by 9.4% during the first quarter. Bank of America Corp DE now owns 6,446,209 shares of the industrial products company’s stock worth $517,953,000 after buying an additional 553,136 shares during the period. Pzena Investment Management LLC boosted its stake in shares of Dover Corporation by 0.3% during the second quarter. Pzena Investment Management LLC now owns 5,599,307 shares of the industrial products company’s stock worth $449,176,000 after buying an additional 17,738 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Dover Corporation by 11.5% during the second quarter. JPMorgan Chase & Co. now owns 4,962,208 shares of the industrial products company’s stock worth $398,069,000 after buying an additional 511,469 shares during the period. Institutional investors and hedge funds own 86.01% 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.

Analyst Recommendations for Dover Corporation (NYSE:DOV)

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