Dover Corp (NYSE:DOV) – Stock analysts at William Blair increased their FY2019 earnings estimates for Dover in a research report issued to clients and investors on Friday, October 18th. William Blair analyst L. De. Maria now anticipates that the industrial products company will post earnings per share of $5.85 for the year, up from their previous estimate of $5.81. William Blair also issued estimates for Dover’s Q4 2019 earnings at $1.46 EPS and FY2020 earnings at $6.20 EPS.
Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.60 EPS for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.09. Dover had a net margin of 9.08% and a return on equity of 30.05%. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period in the prior year, the business posted $1.36 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year.
NYSE:DOV opened at $103.49 on Monday. The company has a fifty day moving average of $97.35 and a 200 day moving average of $96.06. Dover has a 52 week low of $65.83 and a 52 week high of $104.44. The company has a quick ratio of 0.91, a current ratio of 1.34 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $14.74 billion, a P/E ratio of 20.82, a P/E/G ratio of 1.51 and a beta of 1.47.
Several large investors have recently added to or reduced their stakes in DOV. LLBH Private Wealth Management LLC purchased a new stake in shares of Dover in the 2nd quarter worth about $65,000. Nuveen Asset Management LLC grew its position in shares of Dover by 50,089.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,981,474 shares of the industrial products company’s stock worth $198,544,000 after buying an additional 1,977,526 shares during the period. APG Asset Management N.V. grew its position in shares of Dover by 180.3% in the 2nd quarter. APG Asset Management N.V. now owns 691,697 shares of the industrial products company’s stock worth $60,861,000 after buying an additional 444,913 shares during the period. Prudential Financial Inc. grew its position in shares of Dover by 225.4% in the 2nd quarter. Prudential Financial Inc. now owns 551,949 shares of the industrial products company’s stock worth $55,305,000 after buying an additional 382,344 shares during the period. Finally, BlackRock Inc. grew its position in shares of Dover by 3.1% in the 2nd quarter. BlackRock Inc. now owns 12,354,483 shares of the industrial products company’s stock worth $1,237,921,000 after buying an additional 371,171 shares during the period. 85.98% of the stock is currently owned by hedge funds and other institutional investors.
In other Dover news, insider Jay L. Kloosterboer sold 15,416 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $98.00, for a total value of $1,510,768.00. Following the completion of the transaction, the insider now directly owns 24,425 shares in the company, valued at approximately $2,393,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brad M. Cerepak sold 9,918 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $90.93, for a total transaction of $901,843.74. The disclosure for this sale can be found here. Insiders sold a total of 45,383 shares of company stock valued at $4,385,834 over the last 90 days. Company insiders own 1.70% of the company’s stock.
Dover Company Profile
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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