Dover (DOV) to Release Earnings on Thursday

Dover (NYSE:DOV) is set to post its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect Dover to post earnings of $1.91 per share for the quarter. Dover has set its FY 2024 guidance at 8.950-9.150 EPS and its FY24 guidance at $8.95-$9.15 EPS.Parties interested in registering for the company’s conference call can do so using this link.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.01. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.16 billion. Dover had a return on equity of 25.95% and a net margin of 12.52%. Dover’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.16 earnings per share. On average, analysts expect Dover to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Dover Trading Down 1.0 %

DOV opened at $169.50 on Thursday. 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 stock’s fifty day moving average is $170.06 and its two-hundred day moving average is $152.71. The company has a market capitalization of $23.29 billion, a P/E ratio of 22.54, a PEG ratio of 1.77 and a beta of 1.27. Dover has a 52 week low of $127.25 and a 52 week high of $178.28.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.51 per share. The ex-dividend date was Wednesday, February 28th. This represents a $2.04 annualized dividend and a dividend yield of 1.20%. Dover’s dividend payout ratio is currently 27.13%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DOV. Royal Bank of Canada increased their target price on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Barclays lifted their price objective on shares of Dover from $163.00 to $180.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. StockNews.com lowered Dover from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Seaport Res Ptn upgraded shares of Dover from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. Finally, Robert W. Baird raised their price target on shares of Dover from $175.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.88.

Insiders Place Their Bets

In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total value of $1,060,260.00. Following the completion of the transaction, the chief financial officer now owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total value of $1,060,260.00. Following the transaction, the chief financial officer now directly owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $163.01, for a total value 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 approximately $3,897,406.09. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,910 shares of company stock valued at $4,318,059. Insiders own 1.30% of the company’s stock.

Institutional Trading of Dover

A number of hedge funds and other institutional investors have recently made changes to their positions in DOV. Norges Bank purchased a new stake in Dover in the fourth quarter valued at $167,153,000. Price T Rowe Associates Inc. MD grew its holdings in Dover by 112.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,902,351 shares of the industrial products company’s stock worth $257,597,000 after acquiring an additional 1,005,470 shares during the period. CI Private Wealth LLC purchased a new position in Dover during the fourth quarter valued at approximately $126,175,000. Morgan Stanley lifted its holdings in Dover by 34.3% in the fourth quarter. Morgan Stanley now owns 2,134,157 shares of the industrial products company’s stock valued at $288,986,000 after acquiring an additional 544,866 shares during the period. Finally, Schonfeld Strategic Advisors LLC boosted its position in Dover by 2,515.0% in the 1st quarter. Schonfeld Strategic Advisors LLC now owns 266,830 shares of the industrial products company’s stock worth $40,542,000 after purchasing an additional 256,626 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

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.