Dover (NYSE:DOV) had its price objective hoisted by research analysts at SunTrust Banks to $91.00 in a note issued to investors on Wednesday, January 30th, The Fly reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. SunTrust Banks’ price objective indicates a potential downside of 0.62% from the stock’s previous close. SunTrust Banks also issued estimates for Dover’s Q1 2019 earnings at $1.08 EPS, Q2 2019 earnings at $1.52 EPS, Q3 2019 earnings at $1.53 EPS, Q4 2019 earnings at $1.54 EPS, FY2019 earnings at $5.68 EPS, Q2 2020 earnings at $1.65 EPS, Q3 2020 earnings at $1.64 EPS, Q4 2020 earnings at $1.65 EPS and FY2020 earnings at $6.14 EPS. The analysts noted that the move was a valuation call.
Several other research analysts have also commented on DOV. Zacks Investment Research raised Dover from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research report on Thursday, October 11th. Gordon Haskett started coverage on Dover in a research report on Friday, October 12th. They set a “buy” rating on the stock. Barclays lifted their target price on Dover from $96.00 to $97.00 and gave the stock an “overweight” rating in a research report on Friday, October 19th. BMO Capital Markets boosted their price objective on Dover from $90.00 to $91.00 and gave the company a “market perform” rating in a report on Friday, October 19th. Finally, Oppenheimer reissued a “hold” rating on shares of Dover in a report on Monday, October 22nd. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $89.18.
Shares of DOV stock traded down $0.51 during mid-day trading on Wednesday, hitting $91.57. 850,620 shares of the company’s stock were exchanged, compared to its average volume of 1,271,380. Dover has a fifty-two week low of $65.83 and a fifty-two week high of $92.10. The stock has a market capitalization of $13.25 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 1.33 and a beta of 1.51. The company has a quick ratio of 0.96, a current ratio of 1.37 and a debt-to-equity ratio of 1.06.
Dover (NYSE:DOV) last issued its earnings results on Tuesday, January 29th. The industrial products company reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.14. Dover had a return on equity of 24.90% and a net margin of 7.84%. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the firm earned $1.84 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, analysts anticipate that Dover will post 5.75 earnings per share for the current fiscal year.
In other Dover news, VP Anthony K. Kosinski sold 2,184 shares of the company’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $90.07, for a total value of $196,712.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ivonne M. Cabrera sold 7,272 shares of the company’s stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $88.23, for a total value of $641,608.56. Following the completion of the transaction, the insider now directly owns 12,908 shares in the company, valued at approximately $1,138,872.84. The disclosure for this sale can be found here. Insiders sold 34,921 shares of company stock worth $3,062,818 in the last ninety days. 2.60% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in DOV. Lavaca Capital LLC acquired a new stake in Dover during the 4th quarter valued at $25,000. Riverview Trust Co acquired a new stake in Dover during the 4th quarter valued at $26,000. Capital Financial Planning LLC acquired a new stake in Dover during the 4th quarter valued at $27,000. Private Capital Group LLC raised its stake in Dover by 252.2% during the 4th quarter. Private Capital Group LLC now owns 398 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 285 shares during the period. Finally, Athena Capital Advisors LLC acquired a new stake in Dover during the 4th quarter valued at $30,000. 87.09% of the stock is currently owned by institutional investors.
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in 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 clamps, 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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