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

Dover Co. (NYSE:DOV) – Analysts at Zacks Research reduced their Q2 2024 EPS estimates for shares of Dover in a research report issued to clients and investors on Friday, April 19th. Zacks Research analyst S. Deb now forecasts that the industrial products company will post earnings of $2.21 per share for the quarter, down from their previous forecast 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.

Several other research analysts also recently weighed in on DOV. Oppenheimer boosted their target price on shares of Dover from $177.00 to $187.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Citigroup boosted their target price on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Robert W. Baird boosted their target price on shares of Dover from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, Seaport Res Ptn raised shares of Dover from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and a consensus price target of $175.13.

Dover Price Performance

Dover stock opened at $172.19 on Monday. Dover has a 52 week low of $127.25 and a 52 week high of $178.28. 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 firm’s 50-day simple moving average is $170.83 and its 200 day simple moving average is $153.72. The firm has a market capitalization of $23.66 billion, a PE ratio of 22.90, a P/E/G ratio of 1.76 and a beta of 1.27.

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

Hedge Funds Weigh In On Dover

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. boosted its holdings in Dover by 15.4% in the 4th quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock worth $567,426,000 after acquiring an additional 492,577 shares during the period. FMR LLC increased its position in Dover by 10.5% in the third quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock worth $333,522,000 after buying an additional 226,646 shares during the period. Northern Trust Corp increased its position in Dover by 5.5% in the third quarter. Northern Trust Corp now owns 1,724,613 shares of the industrial products company’s stock worth $240,601,000 after buying an additional 89,774 shares during the period. Dimensional Fund Advisors LP increased its position in Dover by 10.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,428,878 shares of the industrial products company’s stock worth $219,778,000 after buying an additional 140,089 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its position in Dover by 160.2% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock worth $199,319,000 after buying an additional 879,533 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Transactions at Dover

In other news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was 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 in the company, valued at approximately $3,897,406.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Dover news, Director Stephen M. Todd sold 1,500 shares of the company’s stock in a transaction that occurred 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 transaction, 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 can be accessed through this hyperlink. Also, CFO Brad M. Cerepak sold 18,410 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total value of $3,001,014.10. Following the completion of the transaction, 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. In the last quarter, insiders sold 25,910 shares of company stock worth $4,318,059. 1.30% of the stock is currently owned by company insiders.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Wednesday, February 28th. Dover’s payout ratio is currently 27.13%.

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.