Q2 2024 Earnings Forecast for Dover Co. Issued By Seaport Res Ptn (NYSE:DOV)

Dover Co. (NYSE:DOV) – Analysts at Seaport Res Ptn boosted their Q2 2024 earnings estimates for shares of Dover in a report issued on Thursday, April 18th. Seaport Res Ptn analyst W. Liptak now expects that the industrial products company will earn $2.13 per share for the quarter, up from their previous estimate of $2.12. Seaport Res Ptn currently 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 Q3 2024 earnings at $2.50 EPS, Q2 2025 earnings at $2.26 EPS and FY2025 earnings at $9.93 EPS.

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

DOV has been the subject of a number of other research reports. Royal Bank of Canada increased their price target on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Citigroup increased their price target on shares of Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Robert W. Baird raised their target price on shares of Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Oppenheimer raised their target price on shares of Dover from $177.00 to $187.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Finally, StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.13.

Dover Stock Up 1.1 %

Shares of NYSE:DOV opened at $172.19 on Monday. The stock has a market cap of $23.66 billion, a P/E ratio of 22.90, a P/E/G ratio of 1.76 and a beta of 1.27. The firm has a fifty day moving average price of $170.83 and a 200 day moving average price of $153.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.40 and a quick ratio of 0.90. Dover has a 1-year low of $127.25 and a 1-year high of $178.28.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.51 per share. The ex-dividend date was Wednesday, February 28th. This represents a $2.04 annualized dividend and a yield of 1.18%. Dover’s dividend payout ratio (DPR) is currently 27.13%.

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the completion of the transaction, the chief financial officer now directly owns 17,909 shares in the company, valued at approximately $3,164,699.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Brad M. Cerepak sold 6,000 shares of Dover stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the completion of the sale, the chief financial officer now directly owns 17,909 shares in the company, valued at $3,164,699.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the sale, the chief financial officer now owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The disclosure for this sale can be found here. In the last three months, insiders sold 25,910 shares of company stock worth $4,318,059. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dover

Several hedge funds have recently modified their holdings of the stock. BSW Wealth Partners lifted its position in Dover by 1.2% during the first quarter. BSW Wealth Partners now owns 4,930 shares of the industrial products company’s stock valued at $874,000 after buying an additional 59 shares in the last quarter. Summit Trail Advisors LLC lifted its position in Dover by 2.6% during the first quarter. Summit Trail Advisors LLC now owns 2,333 shares of the industrial products company’s stock valued at $413,000 after buying an additional 60 shares in the last quarter. Legacy Financial Advisors Inc. lifted its position in Dover by 1.7% during the fourth quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock valued at $577,000 after buying an additional 63 shares in the last quarter. CWM LLC lifted 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 buying an additional 65 shares in the last quarter. Finally, Wedmont Private Capital lifted 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 buying an additional 68 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Company Profile

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.