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

Dover Co. (NYSE:DOV) – Stock analysts at Seaport Res Ptn lifted their Q2 2024 earnings per share estimates for shares of Dover in a research note issued on Thursday, April 18th. Seaport Res Ptn analyst W. Liptak now forecasts that the industrial products company will post earnings of $2.13 per share for the quarter, up from their previous estimate 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.

Dover (NYSE:DOV) last announced 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. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.16 billion. Dover had a return on equity of 25.95% and a net margin of 12.52%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.16 EPS.

A number of other research analysts also recently issued reports on the company. StockNews.com downgraded Dover from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Oppenheimer boosted their price objective on Dover from $177.00 to $187.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Royal Bank of Canada boosted their price objective on Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Robert W. Baird boosted their price objective on Dover from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Finally, Barclays upped their price target on Dover from $163.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $175.13.

Dover Stock Up 1.1 %

Shares of NYSE:DOV opened at $172.19 on Monday. The company has a market capitalization of $23.66 billion, a price-to-earnings ratio of 22.90, a P/E/G ratio of 1.76 and a beta of 1.27. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.40 and a quick ratio of 0.90. The business’s 50-day moving average is $170.83 and its 200-day moving average is $153.72. Dover has a 1 year low of $127.25 and a 1 year high of $178.28.

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 dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Wednesday, February 28th. Dover’s dividend payout ratio is currently 27.13%.

Insiders Place Their Bets

In other Dover news, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $171.19, for a total transaction of $256,785.00. Following the completion of the sale, the director now directly owns 22,955 shares of the company’s stock, valued at approximately $3,929,666.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen M. Todd sold 1,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 22,955 shares of the company’s stock, valued at $3,929,666.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,910 shares of company stock valued at $4,318,059. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Dover

Several institutional investors have recently modified their holdings of DOV. Norges Bank bought a new position in shares of Dover in the fourth quarter valued at approximately $175,275,000. Adage Capital Partners GP L.L.C. lifted its stake in Dover by 160.2% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock valued at $199,319,000 after purchasing an additional 879,533 shares during the last quarter. Wellington Management Group LLP lifted its stake in Dover by 2,173.8% in the third quarter. Wellington Management Group LLP now owns 817,125 shares of the industrial products company’s stock valued at $113,997,000 after purchasing an additional 781,189 shares during the last quarter. Franklin Resources Inc. lifted its stake in Dover by 15.4% in the fourth quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock valued at $567,426,000 after purchasing an additional 492,577 shares during the last quarter. Finally, FMR LLC lifted its stake in Dover by 10.5% in the third quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock valued at $333,522,000 after purchasing an additional 226,646 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

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.