Dover (DOV) – Analysts’ Recent Ratings Changes

A number of firms have modified their ratings and price targets on shares of Dover (NYSE: DOV) recently:

  • 4/24/2019 – Dover was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $108.00 price target on the stock. According to Zacks, “Dover’s first-quarter earnings and revenues beat the respective Zacks Consensus Estimate and improved year over year. Dover expects 2019 earnings per share of $5.65-$5.85 backed by improved performances in the Engineered Systems and Fluids segments and benefits from its cost containment actions. The company is likely to deliver improved 2019 results backed by strong bookings growth, solid order backlog, margin improvement and rightsizing programs. The company is also poised to gain from acquisitions, product digitization, e-commerce, new product development, and inorganic investment in core business platforms. The completion of the Belanger buyout is expected to be accretive to margins and adjusted earnings in 2019. Moreover, Dover has outpaced the Zacks Consensus Estimate in each of the past four quarters, the average beat being 8.61%.”
  • 4/22/2019 – Dover was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating.
  • 4/22/2019 – Dover was given a new $102.00 price target on by analysts at Deutsche Bank AG. They now have a “hold” rating on the stock.
  • 4/22/2019 – Dover had its price target raised by analysts at Morgan Stanley from $97.00 to $101.00. They now have an “equal weight” rating on the stock.
  • 4/22/2019 – Dover was given a new $113.00 price target on by analysts at Citigroup Inc. They now have a “buy” rating on the stock.
  • 4/3/2019 – Dover had its price target raised by analysts at Barclays PLC from $93.00 to $99.00. They now have an “overweight” rating on the stock.
  • 4/2/2019 – Dover was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Dover expects 2019 earnings per share of $5.65-$5.85 backed by improved performances in the Engineered Systems and Fluids segments and benefits from its cost containment actions. The company is likely to deliver improved first-quarter 2019 results backed by strong bookings growth, solid order backlog, margin improvement and rightsizing programs. The company is poised to gain from acquisitions, product digitization, e-commerce, new product development, and inorganic investment in core business platforms. The completion of the Belanger buyout is expected to be accretive to margins and adjusted earnings in 2019. However, Dover’s results in 2019 will be hurt by input cost inflation due to the implementation of tariffs. Also, softer demand conditions in retail refrigeration remain a headwind.”
  • 3/27/2019 – Dover was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $103.00 price target on the stock. According to Zacks, “Dover expects 2019 earnings per share of $5.65-$5.85 backed by improved performances in the Engineered Systems and Fluids segments, and benefits from its cost-containment actions. The company is likely to deliver improved first-quarter 2019 results, backed by strong bookings growth, solid order backlog, margin improvement and rightsizing programs. The company is poised to gain from acquisitions, product digitization, e-commerce, new product development and inorganic investment in core business platforms. The completion of the Belanger buyout is expected to be accretive to margins and adjusted earnings in 2019.”
  • 3/8/2019 – Dover had its price target raised by analysts at Morgan Stanley from $92.00 to $97.00. They now have an “equal weight” rating on the stock.

Shares of Dover stock opened at $99.37 on Monday. Dover Corp has a 12 month low of $65.83 and a 12 month high of $99.46. The stock has a market cap of $14.44 billion, a P/E ratio of 19.99, a PEG ratio of 1.51 and a beta of 1.49. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.30 and a quick ratio of 0.87.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, April 18th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.12. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Dover had a return on equity of 28.48% and a net margin of 7.69%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. As a group, equities analysts expect that Dover Corp will post 5.81 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.93%. Dover’s payout ratio is presently 38.63%.

In other news, insider Ivonne M. Cabrera sold 7,272 shares of Dover stock in a transaction dated Tuesday, February 12th. The stock was 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 owns 12,908 shares in the company, valued at approximately $1,138,872.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Anthony K. Kosinski sold 4,241 shares of Dover stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $90.53, for a total value of $383,937.73. The disclosure for this sale can be found here. Insiders sold a total of 48,200 shares of company stock valued at $4,277,800 in the last quarter. Company insiders own 1.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Lavaca Capital LLC purchased a new stake in Dover during the fourth quarter worth approximately $25,000. Riverview Trust Co purchased a new stake in Dover during the fourth quarter worth approximately $26,000. Capital Financial Planning LLC purchased a new stake in Dover during the fourth quarter worth approximately $27,000. Private Capital Group LLC lifted its stake in Dover by 252.2% during the fourth quarter. Private Capital Group LLC now owns 398 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 285 shares during the last quarter. Finally, Pinnacle Bank purchased a new stake in Dover during the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 86.28% of the company’s stock.

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through 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 and 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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