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

Dover Co. (NYSE:DOV - Free Report) - Equities researchers at Seaport Res Ptn raised their Q3 2024 earnings per share (EPS) estimates for Dover in a report issued on Friday, April 26th. Seaport Res Ptn analyst W. Liptak now forecasts that the industrial products company will post earnings of $2.54 per share 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 - Get Free Report) last released 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. Dover had a return on equity of 25.04% and a net margin of 17.28%. The firm had revenue of $2.09 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the previous year, the firm posted $1.94 EPS. Dover's revenue for the quarter was up .7% on a year-over-year basis.

Several other research firms also recently commented on DOV. Barclays upped their price target on shares of Dover from $180.00 to $186.00 and gave the company an "equal weight" rating in a research report on Friday. Wells Fargo & Company upped their target price on shares of Dover from $177.00 to $190.00 and gave the stock an "equal weight" rating in a research report on Friday. Oppenheimer lifted their price target on Dover from $187.00 to $197.00 and gave the stock an "outperform" rating in a research note on Friday. Royal Bank of Canada upped their target price on Dover from $146.00 to $153.00 and gave the company a "sector perform" rating in a research note on Friday, February 2nd. Finally, Mizuho raised their price target on shares of Dover from $180.00 to $185.00 and gave the stock a "buy" rating in a research note on Friday. Three equities research 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, Dover has a consensus rating of "Moderate Buy" and an average price target of $185.75.

Dover Stock Down 0.1 %

DOV stock traded down $0.13 during midday trading on Monday, reaching $180.04. 967,558 shares of the company were exchanged, compared to its average volume of 968,780. Dover has a 1-year low of $127.25 and a 1-year high of $181.49. The company has a market cap of $24.74 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 1.86 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.89 and a current ratio of 1.31. The stock's 50-day simple moving average is $172.12 and its 200 day simple moving average is $154.75.

Dover Dividend Announcement

The business also recently announced 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. The ex-dividend date was Wednesday, February 28th. This represents a $2.04 annualized dividend and a yield of 1.13%. Dover's dividend payout ratio (DPR) is currently 19.60%.

Insider Transactions at Dover

In other Dover news, Director Stephen M. Todd sold 1,500 shares of Dover 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 sale, the director now directly owns 22,955 shares of the company's stock, valued at $3,929,666.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Dover news, Director Stephen M. Todd sold 1,500 shares of the company's 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 transaction, the director now owns 22,955 shares of the company's stock, valued at approximately $3,929,666.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Brad M. Cerepak sold 6,000 shares of the company's stock in a transaction on 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 sale, the chief financial officer now owns 17,909 shares of the company's stock, valued at approximately $3,164,699.39. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,910 shares of company stock worth $4,318,059. Company insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Dover

A number of large investors have recently modified their holdings of DOV. Czech National Bank increased its holdings in shares of Dover by 47.7% during the third quarter. Czech National Bank now owns 24,447 shares of the industrial products company's stock worth $3,411,000 after purchasing an additional 7,892 shares during the period. Handelsbanken Fonder AB raised its position in Dover by 3.4% in the third quarter. Handelsbanken Fonder AB now owns 82,371 shares of the industrial products company's stock valued at $11,492,000 after purchasing an additional 2,706 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Dover by 3.3% during the third quarter. Commonwealth Equity Services LLC now owns 27,530 shares of the industrial products company's stock worth $3,841,000 after acquiring an additional 878 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Dover by 8.0% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 58,015 shares of the industrial products company's stock worth $8,094,000 after acquiring an additional 4,300 shares during the last quarter. Finally, Mcdaniel Terry & Co. raised its position in shares of Dover by 0.7% during the third quarter. Mcdaniel Terry & Co. now owns 208,304 shares of the industrial products company's stock worth $29,060,000 after acquiring an additional 1,532 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.