Dover Corp (NYSE:DOV) – Stock analysts at Seaport Global Securities upped their Q2 2017 earnings per share (EPS) estimates for Dover Corp in a research report issued on Tuesday, Zacks Investment Research reports. Seaport Global Securities analyst W. Liptak now forecasts that the industrial products company will earn $0.93 per share for the quarter, up from their previous forecast of $0.83. Seaport Global Securities also issued estimates for Dover Corp’s FY2017 earnings at $3.70 EPS, Q1 2018 earnings at $0.74 EPS, Q2 2018 earnings at $1.13 EPS and Q3 2018 earnings at $1.28 EPS.
Dover Corp (NYSE:DOV) last released its quarterly earnings data on Thursday, April 20th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.48. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.77 billion. Dover Corp had a return on equity of 12.35% and a net margin of 7.49%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share.
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Other equities research analysts have also recently issued research reports about the stock. Vertical Research raised shares of Dover Corp from a “hold” rating to a “buy” rating in a report on Tuesday, January 3rd. Barclays PLC upped their price target on shares of Dover Corp from $78.00 to $79.00 and gave the stock an “equal weight” rating in a report on Wednesday. Stifel Nicolaus upped their price target on shares of Dover Corp from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Friday. Langenberg & Company raised shares of Dover Corp from a “sell” rating to a “hold” rating in a report on Monday, January 30th. Finally, Royal Bank of Canada set a $73.00 price target on shares of Dover Corp and gave the stock a “hold” rating in a report on Thursday, January 26th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Dover Corp presently has an average rating of “Hold” and an average target price of $83.50.
Dover Corp (NYSE:DOV) traded down 0.34% during mid-day trading on Thursday, reaching $79.44. The company’s stock had a trading volume of 1,887,939 shares. Dover Corp has a 52-week low of $62.89 and a 52-week high of $82.56. The firm has a 50 day moving average price of $79.33 and a 200 day moving average price of $75.67. The company has a market cap of $12.35 billion, a price-to-earnings ratio of 24.44 and a beta of 1.18.
In other news, VP Sandra A. Arkell sold 1,850 shares of the stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $79.94, for a total transaction of $147,889.00. Following the completion of the sale, the vice president now directly owns 10,742 shares in the company, valued at $858,715.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael B. Stubbs sold 20,000 shares of the stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $80.30, for a total transaction of $1,606,000.00. Following the sale, the director now owns 277,194 shares of the company’s stock, valued at $22,258,678.20. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. increased its position in Dover Corp by 314.0% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,391 shares of the industrial products company’s stock worth $102,000 after buying an additional 1,055 shares during the last quarter. FNY Partners Fund LP bought a new position in Dover Corp during the fourth quarter worth about $112,000. Johnson Financial Group Inc. increased its position in Dover Corp by 2.6% in the fourth quarter. Johnson Financial Group Inc. now owns 1,556 shares of the industrial products company’s stock worth $117,000 after buying an additional 40 shares during the last quarter. Ledyard National Bank increased its position in Dover Corp by 421.1% in the first quarter. Ledyard National Bank now owns 1,485 shares of the industrial products company’s stock worth $119,000 after buying an additional 1,200 shares during the last quarter. Finally, Penserra Capital Management LLC increased its position in Dover Corp by 94.8% in the third quarter. Penserra Capital Management LLC now owns 1,784 shares of the industrial products company’s stock worth $130,000 after buying an additional 868 shares during the last quarter. 84.57% of the stock is owned by institutional investors.
Dover Corp 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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