FY2024 EPS Estimates for Dover Co. (NYSE:DOV) Boosted by Seaport Res Ptn

Dover Co. (NYSE:DOV) – Stock analysts at Seaport Res Ptn lifted their FY2024 earnings estimates for shares of Dover in a research report issued to clients and investors on Monday, July 29th. Seaport Res Ptn analyst W. Liptak now expects that the industrial products company will post earnings per share of $9.20 for the year, up from their prior estimate of $9.08. The consensus estimate for Dover’s current full-year earnings is $9.15 per share. Seaport Res Ptn also issued estimates for Dover’s Q4 2024 earnings at $2.42 EPS, Q1 2025 earnings at $2.21 EPS, Q3 2025 earnings at $2.54 EPS, Q4 2025 earnings at $2.55 EPS and FY2025 earnings at $10.01 EPS.

DOV has been the topic of a number of other reports. Oppenheimer increased their price objective on shares of Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Wells Fargo & Company increased their price objective on shares of Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Mizuho increased their price objective on shares of Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Citigroup raised their price target on shares of Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Barclays raised their price target on shares of Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.63.

Dover Trading Down 2.8 %

NYSE DOV opened at $179.15 on Wednesday. Dover has a 12 month low of $127.25 and a 12 month high of $192.31. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. The company has a market capitalization of $24.62 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The company’s fifty day moving average price is $181.31 and its two-hundred day moving average price is $173.51.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. Dover had a net margin of 17.58% and a return on equity of 24.94%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the prior year, the firm posted $2.05 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year.

Hedge Funds Weigh In On Dover

Several hedge funds have recently made changes to their positions in DOV. Franklin Resources Inc. boosted its holdings in shares of Dover by 15.4% in the fourth quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock worth $567,426,000 after buying an additional 492,577 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Dover by 153.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after buying an additional 1,595,611 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of 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. Wellington Management Group LLP boosted its holdings in shares of Dover by 50.7% in the fourth quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock worth $189,433,000 after buying an additional 414,481 shares during the period. Finally, Corient Private Wealth LLC boosted its holdings in shares of Dover by 15.9% in the fourth quarter. Corient Private Wealth LLC now owns 1,150,063 shares of the industrial products company’s stock worth $176,891,000 after buying an additional 157,614 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 4,341 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total transaction of $801,305.19. Following the transaction, the chief financial officer now owns 12,324 shares of the company’s stock, valued at approximately $2,274,887.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by corporate insiders.

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.