Brokers Issue Forecasts for Dover Co.’s Q3 2024 Earnings (NYSE:DOV)

Dover Co. (NYSE:DOV) – Investment analysts at Seaport Res Ptn raised their Q3 2024 earnings per share estimates for Dover in a report issued on Friday, April 26th. Seaport Res Ptn analyst W. Liptak now anticipates that the industrial products company will post earnings of $2.54 per share for the quarter, up from their prior estimate of $2.50. Seaport Res Ptn currently has a “Buy” rating on the stock. The consensus estimate for Dover’s current full-year earnings is $9.10 per share. Seaport Res Ptn also issued estimates for Dover’s FY2024 earnings at $9.08 EPS, Q2 2025 earnings at $2.31 EPS and FY2025 earnings at $9.95 EPS.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. Dover had a return on equity of 25.41% and a net margin of 17.28%. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the business posted $1.94 EPS. The business’s revenue was up .7% compared to the same quarter last year.

Several other brokerages also recently issued reports on DOV. Royal Bank of Canada raised their target price on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Barclays raised their price objective on Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research report on Friday. Wells Fargo & Company lifted their target price on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday. Oppenheimer increased their price target on Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research note on Friday. Finally, StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research report on Friday. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $185.75.

Dover Stock Performance

NYSE DOV opened at $180.17 on Monday. The firm has a market capitalization of $24.75 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 1.87 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. The firm’s fifty day moving average price is $171.75 and its two-hundred day moving average price is $154.47. Dover has a 1 year low of $127.25 and a 1 year high of $181.49.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BSW Wealth Partners increased its holdings in Dover by 1.2% in the 1st 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 during the period. Summit Trail Advisors LLC boosted its position in shares of Dover by 2.6% during the 1st quarter. Summit Trail Advisors LLC now owns 2,333 shares of the industrial products company’s stock worth $413,000 after acquiring an additional 60 shares in the last quarter. Legacy Financial Advisors Inc. increased its stake in Dover by 1.7% in the fourth quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock valued at $577,000 after acquiring an additional 63 shares during the last quarter. CWM LLC raised 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 purchasing an additional 65 shares in the last quarter. Finally, Wedmont Private Capital lifted its stake in Dover by 4.0% during the first quarter. Wedmont Private Capital now owns 1,778 shares of the industrial products company’s stock worth $315,000 after purchasing an additional 68 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insiders Place Their Bets

In related 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 transaction, the director now directly owns 22,955 shares of the company’s stock, valued at $3,929,666.45. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the transaction, the chief financial officer now owns 17,909 shares in the company, valued at approximately $3,164,699.39. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stephen M. Todd sold 1,500 shares of the company’s stock in a transaction 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 sale, 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. Insiders have sold 25,910 shares of company stock worth $4,318,059 in the last 90 days. Company insiders own 1.30% of the company’s stock.

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 issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Wednesday, February 28th. Dover’s dividend payout ratio is 19.60%.

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.