Seaport Res Ptn Analysts Boost Earnings Estimates for Dover Co. (NYSE:DOV)

Dover Co. (NYSE:DOV) – Analysts at Seaport Res Ptn raised their Q3 2024 earnings per share (EPS) estimates for shares of Dover in a report released on Friday, April 26th. Seaport Res Ptn analyst W. Liptak now anticipates that the industrial products company will post earnings per share of $2.54 for the quarter, up from their previous forecast 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 earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.07. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.03 billion. Dover had a net margin of 17.28% and a return on equity of 25.04%. Dover’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the business posted $1.94 earnings per share.

A number of other brokerages have also recently issued reports on DOV. Wells Fargo & Company upped their price objective on shares of Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Mizuho raised their price objective on Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Robert W. Baird boosted their target price on Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Royal Bank of Canada raised their price target on Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Finally, Barclays boosted 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, April 26th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $185.75.

Dover Stock Performance

Shares of NYSE DOV opened at $179.30 on Monday. Dover has a 1-year low of $127.25 and a 1-year high of $182.33. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58. The stock’s 50-day moving average is $172.12 and its 200 day moving average is $154.75. The stock has a market cap of $24.64 billion, a price-to-earnings ratio of 17.22, a P/E/G ratio of 1.86 and a beta of 1.27.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DOV. Orion Capital Management LLC purchased a new stake in Dover during the 3rd quarter valued at about $32,000. Headinvest LLC purchased a new position in shares of Dover in the 3rd quarter worth $32,000. Exchange Traded Concepts LLC purchased a new stake in shares of Dover during the 4th quarter valued at about $33,000. AdvisorNet Financial Inc lifted its stake in shares of Dover by 783.3% in the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 188 shares during the period. Finally, Life Planning Partners Inc purchased a new position in shares of Dover during the 4th quarter worth $35,000. Institutional investors own 84.46% of the company’s stock.

Insider Activity

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction that occurred on 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 directly owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related 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 transaction, the chief financial officer now directly owns 17,909 shares of the company’s stock, valued at approximately $3,164,699.39. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Brad M. Cerepak sold 18,410 shares of the company’s 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 completion of the sale, the chief financial officer now 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 90 days, insiders have sold 25,910 shares of company stock valued at $4,318,059. Corporate insiders own 1.30% of the company’s stock.

Dover Dividend Announcement

The business 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. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $2.04 annualized dividend and a yield of 1.14%. Dover’s dividend payout ratio (DPR) is presently 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.