Seaport Res Ptn Weighs in on Dover Co.’s Q2 2024 Earnings (NYSE:DOV)

Dover Co. (NYSE:DOV) – Research analysts at Seaport Res Ptn increased their Q2 2024 earnings estimates for Dover in a research report issued to clients and investors on Thursday, April 18th. Seaport Res Ptn analyst W. Liptak now anticipates that the industrial products company will post earnings of $2.13 per share for the quarter, up from their prior estimate of $2.12. 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 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 quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.01. The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Dover had a net margin of 12.52% and a return on equity of 25.95%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.16 earnings per share.

DOV has been the subject of a number of other research reports. Citigroup lifted their price target on shares of Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Oppenheimer lifted their price target on shares of Dover from $177.00 to $187.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Barclays lifted their price target on shares of Dover from $163.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada boosted their price objective on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Finally, Robert W. Baird boosted their price objective on shares of Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Dover has an average rating of “Moderate Buy” and an average price target of $175.13.

Dover Stock Up 0.3 %

Shares of Dover stock opened at $170.28 on Monday. Dover has a 52-week low of $127.25 and a 52-week high of $178.28. The company has a 50 day moving average of $170.59 and a 200 day moving average of $153.48. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $23.39 billion, a P/E ratio of 22.64, a P/E/G ratio of 1.76 and a beta of 1.27.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given 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 27.13%.

Insider Activity at Dover

In related news, Director Stephen M. Todd sold 1,500 shares of the company’s stock in a transaction 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 sale, the director now owns 22,955 shares in the company, valued at approximately $3,929,666.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $163.01, for a total value 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 approximately $3,897,406.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 22,955 shares in the company, valued at $3,929,666.45. The disclosure for this sale can be found here. Insiders sold a total of 25,910 shares of company stock worth $4,318,059 in the last 90 days. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Dover

A number of institutional investors and hedge funds have recently made changes to their positions in DOV. CWM LLC boosted its position in shares of Dover by 14.5% in the 3rd quarter. CWM LLC now owns 2,089 shares of the industrial products company’s stock worth $291,000 after buying an additional 264 shares in the last quarter. Arkadios Wealth Advisors boosted its position in shares of Dover by 18.0% in the 3rd quarter. Arkadios Wealth Advisors now owns 1,645 shares of the industrial products company’s stock worth $229,000 after buying an additional 251 shares in the last quarter. HB Wealth Management LLC boosted its position in shares of Dover by 15.7% in the 3rd quarter. HB Wealth Management LLC now owns 6,194 shares of the industrial products company’s stock worth $864,000 after buying an additional 841 shares in the last quarter. Everence Capital Management Inc. boosted its position in shares of Dover by 46.3% in the 3rd quarter. Everence Capital Management Inc. now owns 7,683 shares of the industrial products company’s stock worth $1,072,000 after buying an additional 2,430 shares in the last quarter. Finally, Park Place Capital Corp boosted its position in shares of Dover by 18.8% in the 3rd quarter. Park Place Capital Corp now owns 770 shares of the industrial products company’s stock worth $107,000 after buying an additional 122 shares in the last quarter. 84.46% of the stock is 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.