Dover Corp. (NYSE:DOV) – Investment analysts at Seaport Global Securities dropped their Q3 2016 earnings per share (EPS) estimates for shares of Dover Corp. in a report released on Monday. Seaport Global Securities analyst W. Liptak now anticipates that the firm will post earnings per share of $0.83 for the quarter, down from their previous estimate of $1.01. Seaport Global Securities also issued estimates for Dover Corp.’s Q1 2017 earnings at $0.64 EPS, Q3 2017 earnings at $0.99 EPS, Q4 2017 earnings at $0.93 EPS and FY2017 earnings at $3.50 EPS.
Dover Corp. (NYSE:DOV) last issued its 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 net margin of 8.03% and a return on equity of 14.27%. The firm earned $1.69 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the firm posted $0.98 EPS. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis.
Several other brokerages also recently issued reports on DOV. Zacks Investment Research downgraded Dover Corp. from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Susquehanna started coverage on Dover Corp. in a report on Friday, October 7th. They set a “neutral” rating and a $77.00 price target for the company. Bank of America Corp. reaffirmed a “buy” rating and set a $85.00 price target on shares of Dover Corp. in a report on Thursday, October 6th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Dover Corp. in a report on Monday, June 27th. Finally, Citigroup Inc. lowered their price objective on Dover Corp. from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $72.19.
Dover Corp. (NYSE:DOV) opened at 67.29 on Tuesday. Dover Corp. has a 12 month low of $50.91 and a 12 month high of $74.90. The company’s 50-day moving average is $71.00 and its 200 day moving average is $69.14. The firm has a market cap of $10.44 billion, a P/E ratio of 19.35 and a beta of 1.25.
Institutional investors have recently bought and sold shares of the company. Mizuho Asset Management Co. Ltd. raised its position 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 acquired a new position in shares of Dover Corp. during the second quarter valued at about $143,000. Hallmark Capital Management Inc. acquired a new position in shares of Dover Corp. during the second quarter valued at about $149,000. Feltz Wealth PLAN Inc. acquired a new position in shares of Dover Corp. during the second quarter valued at about $150,000. Finally, Trust Department MB Financial Bank N A raised its position in shares of 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 valued at $180,000 after buying an additional 1,030 shares during the period. 85.59% of the stock is currently owned by institutional investors.
In related news, VP C. Anderson Fincher sold 1,420 shares of Dover Corp. stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $73.42, for a total value of $104,256.40. Following the transaction, 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 SEC, which is available through this hyperlink. Also, VP Paul Goldberg sold 1,800 shares of Dover Corp. stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $72.13, for a total value of $129,834.00. Following the completion of the transaction, the vice president now directly owns 11,778 shares in the company, valued at $849,547.14. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.62%. This is a positive change from Dover Corp.’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, August 29th. Dover Corp.’s dividend payout ratio (DPR) is presently 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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