FY2022 Earnings Forecast for Dover Co. Issued By Seaport Res Ptn (NYSE:DOV)

Dover Co. (NYSE:DOVGet Rating) – Seaport Res Ptn cut their FY2022 earnings per share (EPS) estimates for Dover in a research note issued to investors on Monday, April 25th. Seaport Res Ptn analyst W. Liptak now expects that the industrial products company will earn $8.60 per share for the year, down from their prior estimate of $8.61.

Dover (NYSE:DOVGet Rating) last issued its quarterly earnings results on Thursday, April 21st. The industrial products company reported $1.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.07. Dover had a net margin of 13.81% and a return on equity of 28.52%. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the company earned $1.81 EPS. Dover’s quarterly revenue was up 9.8% on a year-over-year basis.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley cut their price target on shares of Dover from $177.00 to $161.00 and set an “equal weight” rating on the stock in a report on Friday, April 22nd. Wells Fargo & Company lowered their price objective on Dover from $161.00 to $159.00 and set an “equal weight” rating on the stock in a research report on Friday, April 22nd. Deutsche Bank Aktiengesellschaft lowered their price objective on Dover from $187.00 to $182.00 and set a “hold” rating on the stock in a research report on Thursday, April 14th. Royal Bank of Canada lowered their price objective on Dover from $170.00 to $162.00 and set a “sector perform” rating on the stock in a research report on Friday, April 22nd. Finally, Citigroup upped their price objective on Dover from $218.00 to $221.00 in a research report on Friday, January 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dover has an average rating of “Hold” and an average target price of $175.08.

Shares of NYSE:DOV opened at $139.05 on Wednesday. Dover has a twelve month low of $138.50 and a twelve month high of $184.04. The company’s 50 day moving average is $153.65 and its 200 day moving average is $165.19. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72. The company has a market cap of $20.05 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 1.20 and a beta of 1.40.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Selective Wealth Management Inc. acquired a new position in shares of Dover during the fourth quarter worth about $27,000. First Community Trust NA purchased a new stake in Dover in the fourth quarter valued at approximately $30,000. Richwood Investment Advisors LLC purchased a new stake in Dover in the fourth quarter valued at approximately $31,000. CVA Family Office LLC purchased a new stake in Dover in the fourth quarter valued at approximately $35,000. Finally, Allworth Financial LP lifted its stake in Dover by 45.2% in the fourth quarter. Allworth Financial LP now owns 196 shares of the industrial products company’s stock valued at $36,000 after buying an additional 61 shares during the last quarter. Institutional investors and hedge funds own 82.30% of the company’s stock.

In other news, CEO Richard J. Tobin sold 31,515 shares of Dover stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $156.91, for a total transaction of $4,945,018.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Anthony K. Kosinski sold 3,287 shares of Dover stock in a transaction on Monday, March 14th. The stock was sold at an average price of $153.43, for a total value of $504,324.41. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Shareholders of record on Monday, February 28th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, February 25th. This represents a $2.00 annualized dividend and a yield of 1.44%. Dover’s dividend payout ratio (DPR) is presently 26.04%.

About Dover (Get Rating)

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The 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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Earnings History and Estimates for Dover (NYSE:DOV)

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