Dover Corporation (NYSE:DOV) updated its FY17 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.40-3.60 for the period, compared to the Thomson Reuters consensus estimate of $3.56.
A number of brokerages have recently weighed in on DOV. RBC Capital Markets set a $73.00 price objective on shares of Dover Corporation and gave the stock a hold rating in a report on Thursday. Stifel Nicolaus boosted their price objective on shares of Dover Corporation from $76.00 to $85.00 and gave the stock a hold rating in a report on Friday. Vertical Research upgraded shares of Dover Corporation from a hold rating to a buy rating in a report on Tuesday, January 3rd. Oppenheimer Holdings, Inc. restated a market perform rating on shares of Dover Corporation in a report on Thursday, December 29th. Finally, Sanford C. Bernstein reaffirmed an outperform rating on shares of Dover Corporation in a research note on Thursday, December 15th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $74.19.
Shares of Dover Corporation (NYSE:DOV) opened at 79.79 on Monday. Dover Corporation has a 52-week low of $55.30 and a 52-week high of $82.32. The stock has a 50 day moving average of $77.31 and a 200-day moving average of $72.60. The stock has a market capitalization of $12.40 billion, a P/E ratio of 24.55 and a beta of 1.21.
Dover Corporation (NYSE:DOV) last issued its quarterly earnings results on Thursday, January 26th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by $0.24. The company earned $1.80 billion during the quarter, compared to the consensus estimate of $1.71 billion. Dover Corporation had a return on equity of 12.41% and a net margin of 7.49%. The firm’s quarterly revenue was down 89.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 earnings per share. Analysts predict that Dover Corporation will post $3.57 EPS for the current fiscal year.
In related news, insider Jay L. Kloosterboer sold 11,501 shares of the firm’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $70.25, for a total value of $807,945.25. Following the completion of the sale, the insider now directly owns 64,615 shares in the company, valued at $4,539,203.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.60% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. BlackRock Fund Advisors increased its stake in shares of Dover Corporation by 1.2% in the second quarter. BlackRock Fund Advisors now owns 2,460,830 shares of the company’s stock worth $170,585,000 after buying an additional 30,342 shares in the last quarter. BlackRock Group LTD increased its stake in shares of Dover Corporation by 1.6% in the second quarter. BlackRock Group LTD now owns 1,254,377 shares of the company’s stock worth $86,955,000 after buying an additional 20,232 shares in the last quarter. APG Asset Management N.V. increased its stake in shares of Dover Corporation by 3.3% in the second quarter. APG Asset Management N.V. now owns 1,103,169 shares of the company’s stock worth $76,472,000 after buying an additional 35,500 shares in the last quarter. Champlain Investment Partners LLC increased its stake in shares of Dover Corporation by 14.3% in the second quarter. Champlain Investment Partners LLC now owns 1,093,195 shares of the company’s stock worth $75,780,000 after buying an additional 136,750 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in shares of Dover Corporation by 130.1% in the second quarter. Lord Abbett & CO. LLC now owns 933,861 shares of the company’s stock worth $64,736,000 after buying an additional 527,939 shares in the last quarter. Institutional investors own 85.00% of the company’s stock.
About Dover Corporation
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.