JP Morgan Boosts Rating On Dover Corporation (DOV) To “Overweight”


Dover Corporation (NYSE:DOV).

September 19 investment analysts at Morgan Stanley maintained a company rating of “Overweight” but raised the price expectation from $84.00 to $97.00. On July 21 Citigroup kept the company rating at “Neutral” and raised the price expectation to $90.00 from $68.00.

On June 21 the company was downgraded from “Neutral” to “Neutral” in an announcement from Seaport Global. On June 8 the company was rated “Outperform” in a report from BMO Capital a boost from the previous “Outperform” rating.

The company is now up by 1.69%% since yesterday’s close of 90.96. Dover Corporation declared a dividend for shareholders that was paid on Thursday June 15th, 2017. The dividend payment was $0.470 per share for the quarter which comes to $1.88 on an annualized basis. This dividend represents a yield of $2.09. The ex-dividend date was set for Tuesday the 29th of August 2017.

It is currently trading at $92.50 a tad higher than the 50 day moving average which is $86.06 and which is quite a bit above the 200 day moving average of $82.19. The 50 day moving average went up $6.44 or +7.48% whereas the 200 day average was up by +12.54%.

Dover Corporation, launched on April 22, 1947, is a diversified global manufacturer, delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company operates through four segments: Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Business’s customers include businesses supplying the waste and recycling, agricultural, defense, energy, automotive and commercial refrigeration industries..

The P/E ratio is 23.12 and the market cap of the company is 14.41B. In the latest earnings report the EPS was $4.00 and is estimated to be $4.29 for the current year with 155,734,000 shares now outstanding. Next quarter’s EPS is expected be $1.04 and the next full year EPS is projected to be $4.50.

Traders are more bullish on shares of Dover Corporation lately as indicated by the downtick in short interest. The company saw a fall in short interest between August 15, 2017 and August 31, 2017 of -17.29%. Short shares decreased 549,413 over that timeframe. Days to cover increased 1.0 to 4.0 and the short interest percentage is 0.02% as of August 31.