Research Analysts Set Expectations for Dover Co.’s Q2 2024 Earnings (NYSE:DOV)

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

Several other research analysts have also commented on DOV. Robert W. Baird upped their price objective on shares of Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Citigroup upped their price objective on shares of Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, April 8th. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Oppenheimer upped their price objective on shares of Dover from $177.00 to $187.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Finally, Barclays upped their price objective on shares of Dover from $163.00 to $180.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $175.13.

Dover Trading Up 0.3 %

Shares of DOV opened at $170.28 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 0.59. Dover has a twelve month low of $127.25 and a twelve month high of $178.28. The stock has a market capitalization of $23.39 billion, a P/E ratio of 22.64, a PEG ratio of 1.76 and a beta of 1.27. The firm has a fifty day simple moving average of $170.59 and a two-hundred day simple moving average of $153.48.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.01. The business 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%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.16 EPS.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $2.04 dividend on an annualized basis and a yield of 1.20%. Dover’s dividend payout ratio is currently 27.13%.

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 23,909 shares in the company, valued at approximately $3,897,406.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Stephen M. Todd sold 1,500 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the sale, the director now owns 22,955 shares of the company’s stock, valued at approximately $3,929,666.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 23,909 shares in the company, valued at approximately $3,897,406.09. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,910 shares of company stock worth $4,318,059. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of Dover

A number of institutional investors have recently made changes to their positions in DOV. CWM LLC boosted its holdings in shares of Dover by 14.5% in the third quarter. CWM LLC now owns 2,089 shares of the industrial products company’s stock worth $291,000 after buying an additional 264 shares during the last quarter. Arkadios Wealth Advisors boosted its holdings in shares of Dover by 18.0% in the third quarter. Arkadios Wealth Advisors now owns 1,645 shares of the industrial products company’s stock worth $229,000 after buying an additional 251 shares during the last quarter. HB Wealth Management LLC boosted its holdings in shares of Dover by 15.7% in the third quarter. HB Wealth Management LLC now owns 6,194 shares of the industrial products company’s stock worth $864,000 after buying an additional 841 shares during the last quarter. Everence Capital Management Inc. boosted its holdings in shares of Dover by 46.3% in the third quarter. Everence Capital Management Inc. now owns 7,683 shares of the industrial products company’s stock worth $1,072,000 after buying an additional 2,430 shares during the last quarter. Finally, Park Place Capital Corp boosted its holdings in shares of Dover by 18.8% in the third quarter. Park Place Capital Corp now owns 770 shares of the industrial products company’s stock worth $107,000 after buying an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

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.