SunTrust Banks Comments on Dover Corp’s FY2019 Earnings (DOV)
Dover Corp (NYSE:DOV) – SunTrust Banks decreased their FY2019 earnings per share estimates for Dover in a report released on Wednesday, September 12th. SunTrust Banks analyst C. Brady now forecasts that the industrial products company will post earnings of $5.31 per share for the year, down from their prior forecast of $5.43. SunTrust Banks also issued estimates for Dover’s Q4 2019 earnings at $1.46 EPS, Q1 2020 earnings at $1.11 EPS, Q2 2020 earnings at $1.50 EPS and FY2020 earnings at $5.64 EPS.
Dover (NYSE:DOV) last issued its earnings results on Thursday, July 19th. The industrial products company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.09. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.78 billion. Dover had a return on equity of 18.66% and a net margin of 9.64%. Dover’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.04 earnings per share.
Shares of NYSE DOV opened at $88.48 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.35 and a quick ratio of 0.93. The firm has a market capitalization of $12.96 billion, a P/E ratio of 21.84, a PEG ratio of 1.51 and a beta of 1.36. Dover has a one year low of $70.12 and a one year high of $88.71.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Friday, August 31st will be paid a dividend of $0.48 per share. This is a positive change from Dover’s previous quarterly dividend of $0.47. This represents a $1.92 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Thursday, August 30th. Dover’s dividend payout ratio is currently 47.64%.
In other Dover news, Director Kristiane C. Graham sold 50,000 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $82.75, for a total transaction of $4,137,500.00. Following the completion of the transaction, the director now directly owns 367,324 shares in the company, valued at $30,396,061. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.50% of the company’s stock.
Several hedge funds have recently made changes to their positions in DOV. Optimum Investment Advisors bought a new stake in shares of Dover during the first quarter worth $104,000. Summit Trail Advisors LLC grew its holdings in shares of Dover by 4,425.8% during the first quarter. Summit Trail Advisors LLC now owns 106,446 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 104,094 shares during the last quarter. Fort L.P. bought a new stake in shares of Dover during the second quarter worth $118,000. Winthrop Partners WNY LLC bought a new stake in shares of Dover during the first quarter worth $126,000. Finally, Centaurus Financial Inc. bought a new stake in shares of Dover during the second quarter worth $127,000. Institutional investors own 90.92% 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 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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