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

Dover Co. (NYSE:DOV) – Investment analysts at Zacks Research cut their Q2 2024 earnings per share (EPS) estimates for shares of Dover in a report issued on Friday, April 19th. Zacks Research analyst S. Deb now expects 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.

A number of other research firms have also issued reports on DOV. Royal Bank of Canada boosted their price objective on Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Citigroup boosted their price objective on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Robert W. Baird boosted their price objective on Dover from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Seaport Res Ptn upgraded Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Finally, Barclays boosted their price target on Dover from $163.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $175.13.

Dover Trading Up 0.3 %

NYSE:DOV opened at $170.28 on Monday. Dover has a 12-month low of $127.25 and a 12-month high of $178.28. The firm 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. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.40 and a quick ratio of 0.90. The business has a 50 day simple moving average of $170.59 and a 200 day simple moving average of $153.48.

Dover (NYSE:DOV) last issued its quarterly earnings results 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. Dover had a return on equity of 25.95% and a net margin of 12.52%. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the business earned $2.16 EPS. The business’s quarterly revenue was down 1.5% on a year-over-year basis.

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 issued a $0.51 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $2.04 annualized dividend and a dividend yield of 1.20%. Dover’s dividend payout ratio (DPR) is 27.13%.

Insider Activity

In other 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 value of $256,785.00. Following the completion of the sale, the director now owns 22,955 shares in the company, valued at $3,929,666.45. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Stephen M. Todd sold 1,500 shares of the business’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 sale, the director now directly owns 22,955 shares of the company’s stock, valued at $3,929,666.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brad M. Cerepak sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total value of $1,060,260.00. Following the sale, the chief financial officer now directly owns 17,909 shares in the company, valued at $3,164,699.39. The disclosure for this sale can be found here. Insiders sold a total of 25,910 shares of company stock worth $4,318,059 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Orion Capital Management LLC acquired a new position in Dover during the third quarter valued at $32,000. Headinvest LLC acquired a new position in Dover during the third quarter valued at $32,000. Exchange Traded Concepts LLC acquired a new position in Dover during the fourth quarter valued at $33,000. AdvisorNet Financial Inc raised its position in Dover by 783.3% during the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after buying an additional 188 shares during the period. Finally, Life Planning Partners Inc acquired a new position in Dover during the fourth quarter valued at $35,000. 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.