Q1 2024 Earnings Estimate for Dover Co. Issued By Seaport Res Ptn (NYSE:DOV)

Dover Co. (NYSE:DOV) – Analysts at Seaport Res Ptn decreased their Q1 2024 earnings estimates for Dover in a report issued on Thursday, April 18th. Seaport Res Ptn analyst W. Liptak now forecasts that the industrial products company will post earnings per share of $1.86 for the quarter, down from their prior estimate of $1.97. Seaport Res Ptn has a “Buy” rating on the stock. The consensus estimate for Dover’s current full-year earnings is $9.06 per share. Seaport Res Ptn also issued estimates for Dover’s Q4 2024 earnings at $2.52 EPS, Q1 2025 earnings at $1.90 EPS, Q3 2025 earnings at $3.05 EPS and Q4 2025 earnings at $2.72 EPS.

Several other equities analysts also recently weighed in on the stock. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Citigroup raised their price objective on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Oppenheimer raised their price objective on shares of Dover from $177.00 to $187.00 and gave the company an “outperform” rating in a research report on Thursday. Robert W. Baird raised their price objective on shares of Dover from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Finally, Barclays raised their price objective on shares of Dover from $163.00 to $180.00 and gave the company 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 stock. Based on data from MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and a consensus price target of $175.13.

Dover Price Performance

DOV opened at $168.61 on Friday. The company has a market capitalization of $23.16 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 1.76 and a beta of 1.27. 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 has a 50-day moving average price of $170.23 and a 200-day moving average price of $152.82. Dover has a twelve month low of $127.25 and a twelve month high of $178.28.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the company posted $2.16 earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DOV. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Dover by 1.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 379,103 shares of the industrial products company’s stock valued at $67,173,000 after purchasing an additional 3,620 shares during the last quarter. Seneca House Advisors purchased a new position in Dover in the first quarter valued at about $205,000. Griffin Asset Management Inc. boosted its holdings in Dover by 3.1% in the first quarter. Griffin Asset Management Inc. now owns 52,750 shares of the industrial products company’s stock valued at $9,347,000 after purchasing an additional 1,606 shares during the last quarter. Avity Investment Management Inc. raised its stake in Dover by 46.5% during the first quarter. Avity Investment Management Inc. now owns 2,993 shares of the industrial products company’s stock valued at $530,000 after buying an additional 950 shares in the last quarter. Finally, Register Financial Advisors LLC acquired a new stake in shares of Dover during the 1st quarter worth approximately $82,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction that occurred on 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 directly owns 22,955 shares of the company’s stock, valued at approximately $3,929,666.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The disclosure for this sale can be found here. Insiders have sold a total of 25,910 shares of company stock valued at $4,318,059 over the last three months. 1.30% of the stock is owned by company insiders.

Dover Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 1.21%. Dover’s payout ratio is 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.