Wall Street analysts predict that Dover Corp (NYSE:DOV) will post sales of $1.90 billion for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Dover’s earnings, with the highest sales estimate coming in at $1.93 billion and the lowest estimate coming in at $1.88 billion. Dover posted sales of $1.81 billion in the same quarter last year, which indicates a positive year over year growth rate of 5%. The firm is expected to report its next quarterly earnings report on Thursday, April 19th.
According to Zacks, analysts expect that Dover will report full-year sales of $1.90 billion for the current financial year, with estimates ranging from $8.12 billion to $8.21 billion. For the next financial year, analysts expect that the company will report sales of $8.51 billion per share, with estimates ranging from $8.42 billion to $8.66 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Dover.
Dover (NYSE:DOV) last issued its earnings results on Tuesday, January 30th. The industrial products company reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.09. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. Dover had a net margin of 10.37% and a return on equity of 15.24%. The firm’s revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 earnings per share.
Shares of Dover (DOV) opened at $102.69 on Monday. The firm has a market cap of $15,857.84, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 1.35 and a beta of 1.28. Dover has a twelve month low of $75.86 and a twelve month high of $109.06. The company has a current ratio of 1.40, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 1.83%. Dover’s dividend payout ratio is currently 36.50%.
In related news, SVP Patrick Burns bought 510 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The stock was purchased at an average price of $97.51 per share, for a total transaction of $49,730.10. Following the transaction, the senior vice president now directly owns 1,883 shares of the company’s stock, valued at approximately $183,611.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Gary Kennon sold 15,702 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $102.01, for a total transaction of $1,601,761.02. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Nationwide Fund Advisors grew its position in shares of Dover by 3.0% in the third quarter. Nationwide Fund Advisors now owns 172,993 shares of the industrial products company’s stock valued at $15,810,000 after purchasing an additional 4,987 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Dover by 21.7% in the third quarter. Victory Capital Management Inc. now owns 25,466 shares of the industrial products company’s stock valued at $2,327,000 after purchasing an additional 4,534 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Dover by 6.3% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 23,770 shares of the industrial products company’s stock valued at $2,172,000 after purchasing an additional 1,416 shares in the last quarter. Prudential Financial Inc. grew its position in shares of Dover by 0.4% in the third quarter. Prudential Financial Inc. now owns 227,170 shares of the industrial products company’s stock valued at $20,761,000 after purchasing an additional 806 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of Dover by 1.1% in the third quarter. Swiss National Bank now owns 573,417 shares of the industrial products company’s stock valued at $52,405,000 after purchasing an additional 6,200 shares in the last quarter. Hedge funds and other institutional investors own 88.32% of the company’s stock.
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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