Dover (NYSE:DOV) Issues Earnings Results, Beats Estimates By $0.01 EPS

Dover (NYSE:DOV) released its quarterly earnings data on Thursday. The industrial products company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.01, FiscalAI reports. Dover had a return on equity of 17.87% and a net margin of 13.52%.The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the firm posted $2.05 earnings per share. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. Dover updated its FY 2026 guidance to 10.450-10.650 EPS.

Here are the key takeaways from Dover’s conference call:

• Bookings totaled $2.5 billion (up 24% year‑over‑year) with a book‑to‑bill of 1.2 across all five segments, giving management stronger visibility into future revenue.
• Management reaffirmed full‑year guidance after reporting adjusted EPS of $2.28 (up 11% YoY) and reiterated a goal of double‑digit adjusted EPS growth for 2026.
• Growth was concentrated in Climate & Sustainability (+15% organic) and Clean Energy & Fueling (+11% organic), driven by CO2 refrigeration, heat exchangers for liquid cooling/data centers, and the Sakura acquisition performing ahead of plan.
• Management noted capacity constraints and longer lead times have shifted orders into later delivery windows and that keeping plants open during facility consolidations compressed Q1 margins, with margin recovery expected later in the year.
• Q1 free cash flow was $131 million (6% of revenue) with full‑year FCF guidance of 14%–16% of revenue, continued opportunistic buybacks, disciplined capex of $190–$210 million, and an active but selective M&A pipeline amid high multiples.

Dover Stock Up 7.3%

NYSE:DOV traded up $15.78 during trading hours on Thursday, hitting $231.95. The company’s stock had a trading volume of 615,881 shares, compared to its average volume of 1,232,818. The stock has a market capitalization of $31.27 billion, a P/E ratio of 29.14, a price-to-earnings-growth ratio of 1.70 and a beta of 1.25. The stock has a fifty day moving average of $217.02 and a 200-day moving average of $200.31. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. Dover has a 52-week low of $158.14 and a 52-week high of $237.54.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, February 27th. Dover’s dividend payout ratio is 26.20%.

Insider Activity at Dover

In related news, VP Girish Juneja sold 1,500 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total value of $346,155.00. Following the transaction, the vice president owned 8,422 shares of the company’s stock, valued at $1,943,544.94. This represents a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Ivonne M. Cabrera sold 4,000 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total value of $932,920.00. Following the completion of the transaction, the senior vice president directly owned 72,188 shares in the company, valued at $16,836,407.24. This trade represents a 5.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 82,497 shares of company stock valued at $19,196,277 over the last quarter. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Dover

Several hedge funds have recently made changes to their positions in the business. State Street Corp boosted its stake in shares of Dover by 3.5% during the fourth quarter. State Street Corp now owns 6,760,797 shares of the industrial products company’s stock worth $1,319,978,000 after buying an additional 227,436 shares during the period. Nuveen LLC boosted its stake in shares of Dover by 9.9% during the fourth quarter. Nuveen LLC now owns 2,623,281 shares of the industrial products company’s stock worth $512,169,000 after buying an additional 235,454 shares during the period. First Trust Advisors LP lifted its position in Dover by 179.7% in the fourth quarter. First Trust Advisors LP now owns 2,509,217 shares of the industrial products company’s stock valued at $489,900,000 after purchasing an additional 1,612,159 shares during the period. Wellington Management Group LLP lifted its position in Dover by 16.1% in the third quarter. Wellington Management Group LLP now owns 2,130,657 shares of the industrial products company’s stock valued at $355,458,000 after purchasing an additional 294,856 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Dover by 1.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,661,935 shares of the industrial products company’s stock valued at $324,477,000 after purchasing an additional 18,863 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DOV. Royal Bank Of Canada boosted their target price on Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Citigroup boosted their target price on Dover from $231.00 to $253.00 and gave the company a “buy” rating in a research report on Monday, April 13th. The Goldman Sachs Group reissued a “buy” rating and issued a $224.00 target price on shares of Dover in a research report on Saturday, January 31st. Weiss Ratings raised Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 6th. Finally, Morgan Stanley set a $210.00 price objective on Dover in a research report on Wednesday, February 4th. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.38.

Dover Company Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.