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Dover Co. posts Q1 2024 earnings of $1.86 per share, Seaport Res Ptn Forecasts (NYSE:DOV)


Dover Co. (NYSE:DOV – Free Report) – Seaport Res Ptn lowered first-quarter 2024 earnings per share estimates for Dover in a note issued to investors on Thursday, April 18. Seaport Res Ptn analyst W. Liptak now expects the industrial products company to earn $1.86 per share this quarter, up from their previous estimate of $1.97. Seaport Res Ptn currently 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 released estimates for Dover’s Q4 2024 earnings of $2.52 per share, Q1 2025 earnings of $1.90 per share, Q3 2025 earnings of $3 .05 per share and fourth-quarter 2025 earnings of $2.72 per share.

A number of other research firms have also commented on DOV. Citigroup raised their price objective on Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, April 8. Barclays raised their price target on Dover from $163.00 to $180.00 and gave the stock an “equalweight” rating in a research report on Tuesday, April 2. Oppenheimer raised his price target on shares of Dover from $177.00 to $187.00 and gave the stock an “outperform” rating in a research report on Thursday. Royal Bank of Canada lifted their target price on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Finally, Robert W. Baird raised their price target on shares of Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, March 28. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.13.

Get our latest research report on Dover

Dover shares rise 0.7%

NYSE DOV opened at $169.84 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59. The company has a market cap of $23.33 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 1.76, and a beta of 1.27. The company has a 50-day moving average of $170.42 and a 200-day moving average of $153.04. Dover has a one-year low of $127.25 and a one-year high of $178.28.

Dover (NYSE:DOV – Get Free Report) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.45 earnings per share for the quarter, topping analyst consensus estimates of $2.44 by $0.01. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.16 billion. Dover had a return on equity of 25.95% and a net margin of 12.52%. The company’s revenue fell 1.5% year over year. In the same quarter last year, the company posted earnings per share of $2.16.

Dividend announcement from Dover

The company also recently announced a quarterly dividend, which was paid on Friday, March 15. Shareholders of record received a $0.51 dividend on Thursday, February 29th. The ex-dividend date was Wednesday, February 28. This represents a dividend of $2.04 annually and a dividend yield of 1.20%. Dover’s dividend payout ratio (DPR) currently stands at 27.13%.

Insider activity

In other Dover news, Director Stephen M. Todd sold 1,500 shares of the company’s stock in a transaction on Thursday, March 7. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the sale, the director now owns 22,955 shares of the company’s stock, valued at $3,929,666.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this link. In other Dover news: Director Stephen M. Todd sold 1,500 shares in a transaction dated Thursday, March 7. The stock 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 directly owns 22,955 shares in the company, valued at $3,929,666.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC’s website. Also, CFO Brad M. Cerepak sold 18,410 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares 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 directly owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The explanation of this sale can be found here. In the last three months, insiders have sold 25,910 shares of the company’s stock worth $4,318,059. Corporate insiders own 1.30% of the company’s shares.

Institutional inflow and outflow

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fairfield Bush & CO. bought a new stake in Dover worth about $48,000 in the first quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Dover stock worth $938,000 in the first quarter. Raymond James Trust NA increased its position in Dover shares by 5.8% during the first quarter. Raymond James Trust NA now owns 5,645 shares of the industrial products company’s stock worth $886,000 after purchasing an additional 310 shares during the period. Vontobel Holding Ltd. increased its stake in Dover by 6.5% during the first quarter. Vontobel Holding Ltd. now owns 9,126 shares of the industrial products company’s stock worth $1,465,000 after purchasing an additional 561 shares in the last quarter. Finally, Sei Investments Co. its holdings in Dover rose 6.1% in the first quarter. Sei Investments Co. now owns 140,560 shares of the industrial products company’s stock worth $22,055,000 after purchasing an additional 8,054 shares during the period. 84.46% of the shares are held by institutional investors and hedge funds.

Dover Company Profile

(Get a free report)

Dover Corporation provides equipment and components, consumables, aftermarket parts, software and digital solutions, and support services worldwide. The company’s Engineered Products segment provides various equipment, components, software, solutions and services used in the automotive aftermarket, waste management, industrial automation, aerospace and defense, industrial winch and hoist, and the fluid dispensing end market .

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Earnings history and estimates for Dover (NYSE:DOV)



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