Dover Corp. (NYSE:DOV) – Equities research analysts at Oppenheimer Holdings decreased their Q3 2016 earnings per share (EPS) estimates for Dover Corp. in a note issued to investors on Monday. Oppenheimer Holdings analyst J. Giannakouros now anticipates that the firm will post earnings per share of $0.81 for the quarter, down from their previous forecast of $1.00. Oppenheimer Holdings also issued estimates for Dover Corp.’s Q4 2016 earnings at $0.80 EPS.
DOV has been the topic of several other reports. Zacks Investment Research cut shares of Dover Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, September 21st. Sanford C. Bernstein reissued an “outperform” rating on shares of Dover Corp. in a report on Monday, June 27th. Bank of America Corp. reissued a “buy” rating and set a $85.00 target price on shares of Dover Corp. in a report on Thursday, October 6th. Susquehanna began coverage on shares of Dover Corp. in a report on Friday, October 7th. They set a “neutral” rating and a $77.00 target price on the stock. Finally, Barclays PLC increased their target price on shares of Dover Corp. from $65.00 to $71.00 and gave the stock an “equal weight” rating in a report on Monday, July 18th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the stock. Dover Corp. has a consensus rating of “Hold” and an average price target of $72.19.
Shares of Dover Corp. (NYSE:DOV) opened at 66.91 on Tuesday. The firm has a market capitalization of $10.39 billion, a price-to-earnings ratio of 19.24 and a beta of 1.25. Dover Corp. has a 52 week low of $50.91 and a 52 week high of $74.90. The company’s 50-day moving average is $71.20 and its 200 day moving average is $69.15.
Dover Corp. (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.76 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.09. Dover Corp. had a return on equity of 14.27% and a net margin of 8.03%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. Dover Corp.’s revenue was down 4.1% compared to the same quarter last year.
A number of hedge funds have recently bought and sold shares of DOV. Mizuho Asset Management Co. Ltd. raised its stake in Dover Corp. by 65.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,038 shares of the company’s stock worth $141,000 after buying an additional 803 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in Dover Corp. during the second quarter worth about $143,000. Hallmark Capital Management Inc. bought a new stake in Dover Corp. during the second quarter worth about $149,000. Trust Department MB Financial Bank N A raised its stake in Dover Corp. by 67.0% in the second quarter. Trust Department MB Financial Bank N A now owns 2,567 shares of the company’s stock worth $180,000 after buying an additional 1,030 shares during the period. Finally, Farmers National Bank bought a new stake in Dover Corp. during the second quarter worth about $188,000. 85.59% of the stock is owned by institutional investors.
In other Dover Corp. news, VP C. Anderson Fincher sold 1,420 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $73.42, for a total transaction of $104,256.40. Following the completion of the sale, the vice president now directly owns 40,326 shares of the company’s stock, valued at $2,960,734.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert Livingston sold 25,927 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $69.24, for a total transaction of $1,795,185.48. Following the sale, the chief executive officer now directly owns 192,630 shares of the company’s stock, valued at $13,337,701.20. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, August 29th. This is a positive change from Dover Corp.’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a yield of 2.63%. Dover Corp.’s dividend payout ratio is currently 50.29%.
Dover Corp. Company Profile
Dover Corporation (Dover) is engaged in the manufacturing of equipment, components and specialty systems. The Company also provides supporting engineering, testing and other services. The Company operates through four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for production and processing of fuels across the world.
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