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Dover Corp (DOV.N)

DOV.N on New York Stock Exchange

97.19USD
12 Dec 2017
Change (% chg)

$0.41 (+0.42%)
Prev Close
$96.78
Open
$96.68
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$97.29
Day's Low
$95.82
Volume
213,628
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257,837
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$99.13
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$74.55

Latest Key Developments (Source: Significant Developments)

Reg-Dover Corp Dover Announces Plan To Spin Off Wellsite Business Into Public Company
Friday, 8 Dec 2017 

Dec 7 (Reuters) - Dover Corp ::REG-DOVER CORPORATION: DOVER ANNOUNCES PLAN TO SPIN OFF WELLSITE BUSINESS INTO INDUSTRY-LEADING PUBLIC COMPANY.DOVER CORP - EXPECTS WELLSITE SPIN-OFF WILL BE COMPLETED NO LATER THAN Q2 OF 2018.DOVER CORP - ANTICIPATES SHARE REPURCHASES IN 2018 OF $1 BILLION, INCLUDING USE OF CASH FROM WELLSITE DIVIDEND.DOVER CORP - NAMES SIVASANKARAN SOMASUNDARAM PRESIDENT AND CHIEF EXECUTIVE OFFICER OF WELLSITE BUSINESS.DOVER CORP - EXPANDS DOVER RIGHTSIZING INITIATIVES, WHICH ARE NOW ESTIMATED TO DELIVER $50 MILLION IN SAVINGS IN 2018.DOVER - PLANS TO SPIN OFF ITS UPSTREAM ENERGY BUSINESSES WITHIN DOVER ENERGY SEGMENT INTO PUBLICLY-TRADED CO.DOVER - PLAN TO PURSUE A TAX-FREE SPIN-OFF OF WELLSITE CONCLUDES DOVER'S STRATEGIC ALTERNATIVES REVIEW OF WELLSITE ANNOUNCED ON SEPTEMBER 12, 2017.DOVER CORP - AS PART OF SPIN-OFF TRANSACTION, WELLSITE IS EXPECTED TO RAISE $700 TO $800 MILLION OF NEW DEBT.DOVER CORP - PROCEEDS FROM $800 MILLION IN NEW DEBT WILL BE PAID TO DOVER IN FORM OF A DIVIDEND.DOVER - ANTICIPATES SPIN-OFF WILL BE IN FORM OF DISTRIBUTION OF 100 PERCENT OF STOCK OF WELLSITE, WHICH WILL BE TAX-FREE TO DOVER.DOVER CORP - EXPECTS CHARGES RELATED TO ITS RIGHTSIZING INITIATIVES AND OTHER COSTS TO BE IN RANGE OF $60 MILLION TO $65 MILLION.  Full Article

LKQ Corporation to acquire aftermarket business of Warn Industries Inc
Tuesday, 24 Oct 2017 

Oct 23 (Reuters) - LKQ Corp ::LKQ Corporation to acquire aftermarket business of Warn Industries Inc.LKQ Corp - ‍co's specialty segment, Keystone Automotive Operations Inc, agreed to acquire aftermarket business of Warn Industries Inc​.  Full Article

Dover reports Q3 adjusted EPS of $1.16
Thursday, 19 Oct 2017 

Oct 19 (Reuters) - Dover Corp ::Dover reports third quarter 2017 results and reaffirms full year EPS guidance.Reports Q3 2017 revenue $2.0 billion.Reports Q3 2017 revenue up 17 percent.Q3 adjusted earnings per share $1.16 excluding items.Q3 earnings per share $1.14.Q3 earnings per share view $1.12 -- Thomson Reuters I/B/E/S.Sees FY revenue up 14 to 15 percent.Reaffirms FY 2017 earnings per share view $4.23 to $4.33 excluding items.Q3 revenue $2.0 billion versus I/B/E/S view $1.99 billion.‍Confirms wellsite separation remains on track​.‍Full year guidance for 2017 does not include anticipated Q4 gain for warn sale or any Q4 costs related to wellsite separation​.FY2017 earnings per share view $4.29, revenue view $7.81 billion -- Thomson Reuters I/B/E/S.  Full Article

OTI Petrosmart signs global supply agreement with Dover Fueling Solutions
Monday, 24 Apr 2017 

April 24 (Reuters) - On Track Innovations Ltd :OTI Petrosmart signs global supply agreement with Dover Fueling Solutions, facilitating entry into North American Market.On Track Innovations - under terms of deal, OTI Petrosmart to supply easyfuelplus automatic vehicle identification technology to Dover Fueling Solutions.  Full Article

Dover sets regular quarterly cash dividend of $0.44per share
Saturday, 11 Feb 2017 

Dover Corp :Sets regular quarterly cash dividend of $0.44per share.  Full Article

Dover completes acquisition of Wayne Fueling Systems
Monday, 12 Dec 2016 

Dover Corp : Company expects to divest wayne's small distribution business in united kingdom in near future . This $0.07 impact, not in company's prior guidance . Dover completes acquisition of wayne fueling systems ltd .Expects q4 2016 impact of wayne acquisition to be about $0.07 dilutive to earnings per share from continuing operations.  Full Article

UK's CMA might accept Dover, Wayne Fueling deal undertakings
Tuesday, 1 Nov 2016 

UK's Competition and Markets Authority (CMA) :Undertakings proposed in Dover, Wayne Fueling Systems Ltd deal are appropriate when they are clear-cut, capable of ready implementation.  Full Article

Dover Corp says increased quarterly cash dividend to $0.44/shr
Saturday, 6 Aug 2016 

Dover corporation : Dover increases dividend by 5% .Dover corp says increased its quarterly cash dividend to $0.44 per share.  Full Article

Dover sees FY revenue down about 3 to 5 percent
Thursday, 21 Jul 2016 

Dover Corp : Dover Corp says expects full year organic revenue to decline 6% to 8% . Dover Corp says in refrigeration & food equipment, anticipate certain large can shaping equipment orders and shipments will slip into 2017 . "slightly reducing full year expectations for refrigeration & food equipment and fluids to account for project timing and continued headwinds" . Included in FY forecast are full year restructuring costs of $0.18, gain on a disposition of $0.07 and $0.04 of discrete tax benefits . Dover reports second quarter 2016 results and updates full year guidance . Q2 earnings per share $0.76 from continuing operations . Q2 revenue $1.7 billion versus I/B/E/S view $1.71 billion . Q2 earnings per share view $0.85 -- Thomson Reuters I/B/E/S . Sees FY 2016 earnings per share $3.35 to $3.45 from continuing operations . Sees FY revenue down about 3 to 5 percent . Believe Q2 will mark low point of 2016 performance in energy segment . Slightly reducing FY expectations for refrigeration & food equipment and fluids to account for project timing and continued headwinds . "Q2 results, excluding deal costs and certain one-time items, were generally in-line with our expectations, but disappointing nonetheless" . FY 2016 earnings per share view $3.47, revenue view $6.83 billion -- Thomson Reuters I/B/E/S.  Full Article

Dover entered into definitive agreement to acquire Wayne Fueling Systems Ltd
Thursday, 9 Jun 2016 

Dover Corp : Upon close of transaction, Dover's annualized retail fueling revenue will be $1.4 billion . Transaction is anticipated to be modestly accretive to continuing earnings per share in 2017 . Expects deal to be dilutive to continuing EPS in 2016 . Entered into a definitive agreement under which company will acquire Wayne Fueling Systems Ltd . Deal for $780 million in cash .Transaction is expected to be funded with a combination of cash on hand and incremental debt.  Full Article

Dover to spin off upstream energy businesses after Loeb push

Dover Corp said on Thursday it plans to spin off its upstream energy businesses into a new publicly traded company, nearly two months after activist investor Daniel Loeb urged the industrial equipment maker to separate its energy business.