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

Dover Co. (NYSE:DOV - Free Report) - Equities research analysts at Seaport Res Ptn lowered their Q1 2024 earnings estimates for Dover in a report issued on Thursday, April 18th. Seaport Res Ptn analyst W. Liptak now expects that the industrial products company will post earnings per share of $1.86 for the quarter, down from their previous estimate of $1.97. Seaport Res Ptn currently 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 Q4 2024 earnings at $2.52 EPS, Q1 2025 earnings at $1.90 EPS, Q3 2025 earnings at $3.05 EPS and Q4 2025 earnings at $2.72 EPS.

Other analysts have also recently issued reports about the stock. Robert W. Baird increased their price target on shares of Dover from $175.00 to $185.00 and gave the company an "outperform" rating in a research note on Thursday, March 28th. Royal Bank of Canada increased their price target 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 increased their price target on shares of Dover from $163.00 to $180.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 2nd. Citigroup increased their price target on shares of Dover from $180.00 to $205.00 and gave the company a "buy" rating in a research note on Monday, April 8th. Finally, Oppenheimer raised their price objective on shares of Dover from $177.00 to $187.00 and gave the company an "outperform" rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Dover currently has an average rating of "Moderate Buy" and an average target price of $175.13.

Dover Price Performance

Shares of DOV traded up $1.23 during mid-day trading on Friday, hitting $169.84. 1,207,451 shares of the company traded hands, compared to its average volume of 947,624. Dover has a one year low of $127.25 and a one year high of $178.28. 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 has a 50-day moving average of $170.42 and a 200 day moving average of $153.04. The stock has a market capitalization of $23.33 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 1.76 and a beta of 1.27.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.01. The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.16 billion. Dover had a net margin of 12.52% and a return on equity of 25.95%. The company's revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business posted $2.16 earnings per share.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DOV. Orion Capital Management LLC bought a new position in shares of Dover during the third quarter worth approximately $32,000. Headinvest LLC bought a new position in Dover in the third quarter valued at approximately $32,000. Exchange Traded Concepts LLC bought a new position in Dover in the fourth quarter valued at approximately $33,000. AdvisorNet Financial Inc increased its stake in Dover by 783.3% in the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 188 shares during the last quarter. Finally, Life Planning Partners Inc bought a new position in Dover in the fourth quarter valued at approximately $35,000. 84.46% of the stock is owned by institutional investors.

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 17,909 shares of the company's stock, valued at approximately $3,164,699.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Brad M. Cerepak sold 18,410 shares of the firm's stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the transaction, the chief financial officer now directly owns 23,909 shares of the company's stock, valued at $3,897,406.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brad M. Cerepak sold 6,000 shares of the firm'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 transaction, the chief financial officer now directly owns 17,909 shares in the company, valued at $3,164,699.39. The disclosure for this sale can be found here. Insiders have sold a total of 25,910 shares of company stock valued at $4,318,059 in the last three months. 1.30% of the stock is currently owned by company insiders.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid 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 1.20%. Dover's dividend payout ratio (DPR) is currently 27.13%.

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.