Dover (NYSE:DOV) Lifted to Buy at Seaport Res Ptn

Seaport Res Ptn upgraded shares of Dover (NYSE:DOVFree Report) from a neutral rating to a buy rating in a report published on Monday, PriceTargets.com reports. Seaport Res Ptn also issued estimates for Dover’s Q1 2024 earnings at $1.97 EPS, Q2 2024 earnings at $2.12 EPS, Q3 2024 earnings at $2.48 EPS, Q4 2024 earnings at $2.44 EPS, FY2024 earnings at $9.01 EPS, Q1 2025 earnings at $2.01 EPS, Q2 2025 earnings at $2.23 EPS, Q3 2025 earnings at $3.02 EPS, Q4 2025 earnings at $2.64 EPS and FY2025 earnings at $9.90 EPS.

Several other equities analysts have also commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Dover from $171.00 to $162.00 and set an overweight rating for the company in a research report on Wednesday, October 25th. Citigroup upped their price target on Dover from $167.00 to $173.00 and gave the stock a buy rating in a research note on Monday, December 11th. Royal Bank of Canada increased their target price on Dover from $146.00 to $153.00 and gave the company a sector perform rating in a report on Friday, February 2nd. Oppenheimer increased their target price on shares of Dover from $175.00 to $177.00 and gave the stock an outperform rating in a research note on Friday, February 2nd. Finally, Barclays increased their target price on shares of Dover from $150.00 to $163.00 and gave the stock an equal weight rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $168.18.

Get Our Latest Analysis on Dover

Dover Trading Down 0.2 %

Shares of DOV stock opened at $160.11 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 1.40. The company has a market capitalization of $22.40 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 1.64 and a beta of 1.26. Dover has a 52-week low of $127.25 and a 52-week high of $162.48. The company has a 50-day simple moving average of $150.23 and a two-hundred day simple moving average of $143.46.

Dover (NYSE:DOVGet Free Report) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.45 EPS for the quarter, topping 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 firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the company posted $2.16 EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. Research analysts anticipate that Dover will post 9.07 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 29th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.27%. Dover’s payout ratio is 27.13%.

Insider Transactions at Dover

In other news, VP Anthony K. Kosinski sold 664 shares of Dover stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $141.64, for a total transaction of $94,048.96. Following the sale, the vice president now directly owns 5,333 shares in the company, valued at approximately $755,366.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Dover news, CFO Brad M. Cerepak sold 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $142.00, for a total value of $1,988,000.00. Following the completion of the sale, the chief financial officer now owns 35,938 shares in the company, valued at $5,103,196. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Anthony K. Kosinski sold 664 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $141.64, for a total value of $94,048.96. Following the completion of the sale, the vice president now owns 5,333 shares of the company’s stock, valued at approximately $755,366.12. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Dover

A number of institutional investors have recently added to or reduced their stakes in DOV. Legacy Financial Advisors Inc. raised its position in shares of Dover by 1.7% in the 4th quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock worth $577,000 after acquiring an additional 63 shares in the last quarter. Manchester Capital Management LLC increased its position in Dover by 4.1% during the 4th quarter. Manchester Capital Management LLC now owns 1,752 shares of the industrial products company’s stock valued at $269,000 after buying an additional 69 shares in the last quarter. CX Institutional increased its position in Dover by 1.5% during the 4th quarter. CX Institutional now owns 4,933 shares of the industrial products company’s stock valued at $759,000 after buying an additional 72 shares in the last quarter. First Commonwealth Financial Corp PA increased its position in Dover by 2.6% during the 4th quarter. First Commonwealth Financial Corp PA now owns 3,176 shares of the industrial products company’s stock valued at $430,000 after buying an additional 80 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Dover by 0.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,076 shares of the industrial products company’s stock valued at $2,801,000 after buying an additional 83 shares in the last quarter. Institutional investors own 83.97% of the company’s stock.

Dover Company Profile

(Get Free Report)

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 aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.

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