Seaport Res Ptn Weighs in on Dover Co.’s Q3 2024 Earnings (NYSE:DOV)

Dover Co. (NYSE:DOV) – Analysts at Seaport Res Ptn raised their Q3 2024 earnings per share estimates for shares of Dover in a research note issued to investors on Friday, April 26th. Seaport Res Ptn analyst W. Liptak now expects 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.

Several other brokerages also recently issued reports on DOV. Wells Fargo & Company increased their price objective on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Barclays boosted their price objective on shares of Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Oppenheimer lifted their price objective on Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada raised their price objective on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $185.75.

Dover Stock Performance

Shares of Dover stock opened at $179.30 on Monday. Dover has a 12 month low of $127.25 and a 12 month high of $182.33. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The stock has a market cap of $24.64 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 1.86 and a beta of 1.27. The business has a fifty day simple moving average of $172.12 and a 200-day simple moving average of $154.75.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.04%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business earned $1.94 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Wednesday, February 28th. Dover’s payout ratio is 19.60%.

Insiders Place Their Bets

In related news, CFO Brad M. Cerepak sold 6,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now 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 Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Brad M. Cerepak sold 6,000 shares of the business’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 transaction, the chief financial officer now owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $256,785.00. Following the transaction, the director now owns 22,955 shares of the company’s stock, 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 valued at $4,318,059 in the last quarter. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Dover

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new stake in shares of Dover during the third quarter valued at approximately $32,000. Headinvest LLC bought a new position in shares of Dover during the 3rd quarter worth about $32,000. Exchange Traded Concepts LLC acquired a new stake in shares of Dover during the 4th quarter valued at about $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 period. Finally, Life Planning Partners Inc acquired a new position in Dover in the fourth quarter worth about $35,000. 84.46% of the stock is currently owned by institutional investors.

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.