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

Dover Co. (NYSE:DOV) – Stock analysts at Seaport Res Ptn increased their FY2024 earnings per share (EPS) estimates for Dover in a note issued to investors on Monday, July 29th. Seaport Res Ptn analyst W. Liptak now forecasts that the industrial products company will post earnings of $9.20 per share for the year, up from their prior forecast 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.

Dover (NYSE:DOV) last posted its quarterly earnings results 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. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. Dover’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 earnings per share.

Several other analysts have also recently weighed in on DOV. Citigroup boosted their price target on Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Wells Fargo & Company boosted their price target on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Barclays upped their target price on Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Mizuho upped their target price on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Oppenheimer upped their target price on Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.63.

Dover Stock Down 2.8 %

DOV stock opened at $179.15 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55. The company has a market cap of $24.62 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. Dover has a 52 week low of $127.25 and a 52 week high of $192.31. The business has a 50-day simple moving average of $181.31 and a 200 day simple moving average of $173.51.

Hedge Funds Weigh In On Dover

Institutional investors and hedge funds have recently modified their holdings of the business. LRI Investments LLC acquired a new position in shares of Dover during the first quarter worth approximately $27,000. McClarren Financial Advisors Inc. raised its position in shares of Dover by 4,400.0% during the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 176 shares during the period. AdvisorNet Financial Inc raised its position in shares of Dover by 783.3% during the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 188 shares during the period. Northwest Financial Advisors acquired a new position in shares of Dover during the fourth quarter worth approximately $36,000. Finally, Transcendent Capital Group LLC raised its position in shares of Dover by 208.0% during the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 156 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Dover news, CFO Brad M. Cerepak sold 4,341 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total transaction of $801,305.19. Following the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,274,887.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.30% of the company’s stock.

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.