Dover Co. (NYSE:DOV) to Post Q3 2024 Earnings of $2.54 Per Share, Seaport Res Ptn Forecasts

Dover Co. (NYSE:DOV) – Seaport Res Ptn lifted their Q3 2024 earnings 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 per share of $2.54 for the quarter, up from their prior 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 posted its earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.88 by $0.07. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Dover had a net margin of 17.28% and a return on equity of 25.41%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.94 EPS.

Several other equities research analysts have also issued reports on DOV. Citigroup raised their target price on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Mizuho raised their price objective on shares of Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday. Wells Fargo & Company boosted their target price on shares of Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday. Robert W. Baird raised their price target on shares of Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Royal Bank of Canada upped 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. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $185.75.

Dover Stock Performance

Shares of Dover stock 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 business’s fifty day simple moving average is $171.75 and its 200 day simple moving average is $154.47. Dover has a 12 month low of $127.25 and a 12 month high of $181.49.

Institutional Trading of Dover

Institutional investors and hedge funds have recently bought and sold shares of the company. BSW Wealth Partners increased its holdings in shares of Dover by 1.2% in the first quarter. BSW Wealth Partners now owns 4,930 shares of the industrial products company’s stock worth $874,000 after purchasing an additional 59 shares during the period. Summit Trail Advisors LLC grew its position in Dover by 2.6% during the first quarter. Summit Trail Advisors LLC now owns 2,333 shares of the industrial products company’s stock worth $413,000 after buying an additional 60 shares in the last quarter. Legacy Financial Advisors Inc. increased its stake in Dover by 1.7% in the 4th quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock worth $577,000 after acquiring an additional 63 shares during the last quarter. CWM LLC raised its holdings in shares of Dover by 2.7% in the 1st quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock valued at $435,000 after acquiring an additional 65 shares in the last quarter. Finally, Wedmont Private Capital boosted its position in shares of Dover by 4.0% during the 1st quarter. Wedmont Private Capital now owns 1,778 shares of the industrial products company’s stock valued at $315,000 after acquiring an additional 68 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Dover

In other Dover news, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction 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 sale, the director now owns 22,955 shares in the company, valued at $3,929,666.45. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Brad M. Cerepak sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total value of $1,060,260.00. Following the completion of the transaction, the chief financial officer now directly owns 17,909 shares in the company, valued at $3,164,699.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen M. Todd sold 1,500 shares of the business’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 transaction of $256,785.00. Following the transaction, the director now directly owns 22,955 shares of the company’s stock, valued at approximately $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 worth $4,318,059. Corporate insiders own 1.30% of the company’s stock.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.13%. The ex-dividend date was Wednesday, February 28th. Dover’s dividend payout ratio (DPR) is presently 19.60%.

About Dover

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.