Q1 2024 EPS Estimates for Dover Co. (NYSE:DOV) Lowered by Seaport Res Ptn

Dover Co. (NYSE:DOV) – Analysts at Seaport Res Ptn cut their Q1 2024 earnings estimates for shares of Dover in a note issued to investors on Thursday, April 18th. Seaport Res Ptn analyst W. Liptak now forecasts that the industrial products company will post earnings of $1.86 per share for the quarter, down from their previous forecast of $1.97. Seaport Res Ptn has a “Buy” rating on the stock. The consensus estimate for Dover’s current full-year earnings is $9.06 per share. Seaport Res Ptn also issued estimates for Dover’s Q4 2024 earnings at $2.52 EPS, Q1 2025 earnings at $1.90 EPS, Q3 2025 earnings at $3.05 EPS and Q4 2025 earnings at $2.72 EPS.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.01. Dover had a net margin of 12.52% and a return on equity of 25.95%. The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the business earned $2.16 EPS. The firm’s revenue was down 1.5% on a year-over-year basis.

Several other research firms also recently issued reports on DOV. Citigroup lifted their price target on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Royal Bank of Canada lifted their target price on Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Oppenheimer lifted their price target on Dover from $177.00 to $187.00 and gave the stock an “outperform” rating in a report on Thursday. Barclays lifted their price target on Dover from $163.00 to $180.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Finally, Robert W. Baird lifted their price target on Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.13.

Dover Price Performance

DOV stock opened at $168.61 on Friday. The stock has a 50-day moving average price of $170.23 and a two-hundred day moving average price of $152.82. Dover has a 1 year low of $127.25 and a 1 year high of $178.28. The stock has a market cap of $23.16 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 1.76 and a beta of 1.27. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Legacy Financial Advisors Inc. increased its holdings in shares of Dover by 1.7% during the fourth quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock worth $577,000 after buying an additional 63 shares in the last quarter. CWM LLC boosted its position in Dover by 2.7% during the first quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock valued at $435,000 after acquiring an additional 65 shares during the last quarter. Wedmont Private Capital boosted its position in Dover by 4.0% during the first quarter. Wedmont Private Capital now owns 1,778 shares of the industrial products company’s stock valued at $315,000 after acquiring an additional 68 shares during the last quarter. BOKF NA boosted its position in Dover by 0.7% during the fourth quarter. BOKF NA now owns 10,057 shares of the industrial products company’s stock valued at $1,547,000 after acquiring an additional 68 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its position in Dover by 4.1% during the fourth quarter. Manchester Capital Management LLC now owns 1,752 shares of the industrial products company’s stock valued at $269,000 after acquiring an additional 69 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the completion of the sale, the director now directly owns 22,955 shares in the company, valued at $3,929,666.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the completion of the transaction, the chief financial officer now directly owns 23,909 shares in the company, valued at $3,897,406.09. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the transaction, the director now owns 22,955 shares of the company’s stock, valued at $3,929,666.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,910 shares of company stock worth $4,318,059. Corporate insiders own 1.30% of the company’s stock.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.51 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.21%. Dover’s payout ratio is 27.13%.

About Dover

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.