Q2 2024 EPS Estimates for Dover Co. (NYSE:DOV) Reduced by Analyst

Dover Co. (NYSE:DOV) – Equities research analysts at Zacks Research reduced their Q2 2024 EPS estimates for shares of Dover in a research report issued on Friday, April 19th. Zacks Research analyst S. Deb now anticipates that the industrial products company will post earnings of $2.21 per share for the quarter, down from their prior estimate of $2.22. The consensus estimate for Dover’s current full-year earnings is $9.06 per share. Zacks Research also issued estimates for Dover’s Q3 2024 earnings at $2.44 EPS, FY2024 earnings at $9.04 EPS and Q4 2025 earnings at $2.59 EPS.

DOV has been the subject of a number of other reports. Oppenheimer lifted their price objective 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. Citigroup lifted their price objective 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. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Seaport Res Ptn raised shares of Dover from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Finally, Royal Bank of Canada lifted their price objective on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $175.13.

Dover Stock Performance

Shares of NYSE DOV opened at $172.19 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 1.40. The company has a market cap of $23.66 billion, a P/E ratio of 22.90, a P/E/G ratio of 1.76 and a beta of 1.27. The firm’s fifty day moving average is $170.83 and its two-hundred day moving average is $153.72. Dover has a 52-week low of $127.25 and a 52-week high of $178.28.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.01. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.16 billion. Dover had a net margin of 12.52% and a return on equity of 25.95%. Dover’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.16 EPS.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders 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 1.18%. Dover’s dividend payout ratio (DPR) is 27.13%.

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which is available at the SEC website. Also, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The disclosure for this sale can be found here. Insiders sold a total of 25,910 shares of company stock valued at $4,318,059 in the last three months. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DOV. Orion Capital Management LLC purchased a new stake in Dover during the 3rd quarter worth approximately $32,000. Headinvest LLC purchased a new stake in shares of Dover in the 3rd quarter valued at $32,000. Exchange Traded Concepts LLC purchased a new stake in shares of Dover in the 4th quarter valued at $33,000. AdvisorNet Financial Inc boosted its holdings in shares of Dover by 783.3% in the 4th 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 purchased a new stake in shares of Dover in the 4th quarter valued at $35,000. Institutional investors own 84.46% of the company’s stock.

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.