Dover Co. (NYSE:DOV) Expected to Earn Q3 2024 Earnings of $2.42 Per Share

Dover Co. (NYSE:DOV) – Equities researchers at Zacks Research reduced their Q3 2024 earnings estimates for Dover in a research report issued on Thursday, August 8th. Zacks Research analyst S. Deb now expects that the industrial products company will post earnings of $2.42 per share for the quarter, down from their prior estimate of $2.49. The consensus estimate for Dover’s current full-year earnings is $9.15 per share. Zacks Research also issued estimates for Dover’s Q4 2024 earnings at $2.41 EPS, FY2024 earnings at $9.13 EPS, Q1 2025 earnings at $2.10 EPS, Q2 2025 earnings at $2.35 EPS, Q3 2025 earnings at $2.60 EPS, Q1 2026 earnings at $2.31 EPS, Q2 2026 earnings at $2.47 EPS and FY2026 earnings at $10.16 EPS.

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

Several other brokerages also recently weighed in on DOV. Oppenheimer upped their target price on shares of Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research report 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 report on Friday, April 26th. Mizuho increased their target price on shares of Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $192.63.

Dover Stock Performance

Shares of DOV stock opened at $176.23 on Friday. The firm’s 50 day moving average price is $180.29 and its 200-day moving average price is $174.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53. Dover has a one year low of $127.25 and a one year high of $192.31. The firm has a market cap of $24.22 billion, a P/E ratio of 16.93, a P/E/G ratio of 2.13 and a beta of 1.22.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. LRI Investments LLC bought a new stake in shares of Dover in the first quarter worth $28,000. McClarren Financial Advisors Inc. boosted its holdings 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 valued at $32,000 after acquiring an additional 176 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of Dover during the second quarter valued at $41,000. Transcendent Capital Group LLC lifted its holdings in Dover by 208.0% in 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. Finally, Northwest Financial Advisors acquired a new stake in Dover in the fourth quarter worth about $36,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Dover

In related news, CFO Brad M. Cerepak sold 4,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total value of $801,305.19. Following the sale, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.515 per share. This is an increase from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Friday, August 30th. Dover’s dividend payout ratio (DPR) is 19.79%.

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.