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Dover

Dover Corp is a diversified manufacturer and solutions provider delivering equipment and components, consumable supplies, aftermarket parts, software digital solutions, and support services. It operates through five segments: engineered systems, clean energy, and fueling solutions, imaging and identification, pumps and process solutions, and climate and sustainability technologies equipment.

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Dover Corporation reported Q3 results with revenue of $1.984B (1% Y/Y) and adjusted EPS of $2.27 (6% Y/Y). 2024 outlook lowered.

Dover&#39;s Q3 Earnings Miss Amid Soft Revenue Growth, Cuts 2024 Outlook

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Dover Corporation (NYSE: DOV) announced the acquisition of Criteria Labs, Inc., which would be integrated into DOV&#39;s Microwave Products Group (&#34;MPG&#34;) within the Engineered Products segment.

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Terex to acquire Environmental Solutions Group (ESG) from Dover Corporation in $2.0B all-cash deal, expanding North American exposure and targeting $40B global market opportunity. 

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Shares of machine companies are trading lower amid overall market weakness following the Fed's rate decision to cut rates by 25 basis points.

Goldman Sachs analyst Joe Ritchie maintains Dover (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOV#NYSE">DOV</a>) with a Buy and raises the price target from $202 to $223.

Price Target

Goldman Sachs Maintains Buy on Dover, Raises Price Target to $223

Dover Corporation (NYSE:&nbsp;DOV) today announced that Brad Cerepak, Senior Vice President and Chief Financial Officer, has notified the Company that he plans to retire on January 31, 2025. Christopher ("Chris") Woenker, 42, Chief Financial Officer of the Company's Engineered Products and Climate &amp; Sustainability Technologies segments, will succeed Mr. Cerepak as Senior Vice President and Chief Financial Officer, effective January 31, 2025. As part of the Company's transition plan, Mr. Woenker will remain in his current segment CFO roles while working closely with Mr. Cerepak through the 2024 fiscal year financial closing. Mr. Woenker will report to the Chairman and Chief Executive Officer, Richard Tobin.
Mr. Woenker joined the Company in March 2013, first serving as manager and then director in the Financial Planning and Analysis function. He was promoted to business unit CFO in September 2016, and to segment CFO in June 2017. Since then, he has served as CFO for several of the Company's segments, including his current roles as CFO of the Engineered Products and the Climate &amp; Sustainability Technologies segments, giving him a deep understanding of our operating model and our businesses.

Management

Dover Announces Retirement Of Chief Financial Officer; Christopher Woenker Named Successor, Effective January 31, 2025

Citigroup analyst Andrew Kaplowitz maintains Dover (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOV#NYSE">DOV</a>) with a Buy and raises the price target from $226 to $236.

Citigroup Maintains Buy on Dover, Raises Price Target to $236

In the last three months, 8 analysts have published ratings on Dover (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOV#NYSE">DOV</a>), offering a diverse range of perspectives from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">0</td>
<td align="right">4</td>
<td align="right">4</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">4</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $210.38, along with a high estimate of $227.00 and a low estimate of $190.00. This current average has increased by 6.43% from the previous average price target of $197.67. 
<img src="https://www.benzinga.com/files/images/story/2024/1733421719_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Dover. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Julian Mitchell</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$205.00</td>
<td>$190.00</td>
</tr>
<tr>
<td>Amit Mehrotra</td>
<td>UBS</td>
<td>Announces</td>
<td>Neutral</td>
<td>$217.00</td>
<td>-</td>
</tr>
<tr>
<td>Nigel Coe</td>
<td>Wolfe Research</td>
<td>Announces</td>
<td>Outperform</td>
<td>$227.00</td>
<td>-</td>
</tr>
<tr>
<td>Stephen Tusa</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$212.00</td>
<td>$210.00</td>
</tr>
<tr>
<td>Brett Linzey</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Outperform</td>
<td>$220.00</td>
<td>$200.00</td>
</tr>
<tr>
<td>Bryan Blair</td>
<td>Oppenheimer</td>
<td>Raises</td>
<td>Outperform</td>
<td>$215.00</td>
<td>$210.00</td>
</tr>
<tr>
<td>Julian Mitchell</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$190.00</td>
<td>$186.00</td>
</tr>
<tr>
<td>Joseph O'Dea</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$197.00</td>
<td>$190.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Dover. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Dover compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Dover's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
For valuable insights into Dover's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/DOV/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Dover analyst ratings.</a>
<h2>All You Need to Know About Dover</h2>
Dover Corp is a diversified manufacturer and solutions provider delivering equipment and components, consumable supplies, aftermarket parts, software digital solutions, and support services. It operates through five segments: engineered systems, clean energy, and fueling solutions, imaging and identification, pumps and process solutions, and climate and sustainability technologies equipment.
<h3>Key Indicators: Dover's Financial Health</h3>
Market Capitalization Analysis: With a profound presence, the company's market capitalization is above industry averages. This reflects substantial size and strong market recognition.
Revenue Growth: Dover's revenue growth over a period of 3 months has been noteworthy. As of 30 September, 2024, the company achieved a revenue growth rate of approximately 1.28%. This indicates a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Industrials sector.
Net Margin: Dover's net margin excels beyond industry benchmarks, reaching 17.5%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Dover's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 6.28% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Dover's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 2.99% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Dover's debt-to-equity ratio surpasses industry norms, standing at 0.59. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Key Takeaways From Dover Analyst Ratings

Barclays analyst Julian Mitchell maintains Dover (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOV#NYSE">DOV</a>) with a Equal-Weight and raises the price target from $190 to $205.

Barclays Maintains Equal-Weight on Dover, Raises Price Target to $205

Across the recent three months, 7 analysts have shared their insights on Dover (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOV#NYSE">DOV</a>), expressing a variety of opinions spanning from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">0</td>
<td align="right">4</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">4</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Dover, revealing an average target of $211.14, a high estimate of $227.00, and a low estimate of $190.00. This current average has increased by 5.99% from the previous average price target of $199.20. 
<img src="https://www.benzinga.com/files/images/story/2024/1731528053_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
The analysis of recent analyst actions sheds light on the perception of Dover by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Amit Mehrotra</td>
<td>UBS</td>
<td>Announces</td>
<td>Neutral</td>
<td>$217.00</td>
<td>-</td>
</tr>
<tr>
<td>Nigel Coe</td>
<td>Wolfe Research</td>
<td>Announces</td>
<td>Outperform</td>
<td>$227.00</td>
<td>-</td>
</tr>
<tr>
<td>Stephen Tusa</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$212.00</td>
<td>$210.00</td>
</tr>
<tr>
<td>Brett Linzey</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Outperform</td>
<td>$220.00</td>
<td>$200.00</td>
</tr>
<tr>
<td>Bryan Blair</td>
<td>Oppenheimer</td>
<td>Raises</td>
<td>Outperform</td>
<td>$215.00</td>
<td>$210.00</td>
</tr>
<tr>
<td>Julian Mitchell</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$190.00</td>
<td>$186.00</td>
</tr>
<tr>
<td>Joseph O'Dea</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$197.00</td>
<td>$190.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Dover. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Dover compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Dover's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
To gain a panoramic view of Dover's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/DOV/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Dover analyst ratings.</a>
<h2>All You Need to Know About Dover</h2>
Dover Corp is a diversified manufacturer and solutions provider delivering equipment and components, consumable supplies, aftermarket parts, software digital solutions, and support services. It operates through five segments: engineered systems, clean energy, and fueling solutions, imaging and identification, pumps and process solutions, and climate and sustainability technologies equipment.
<h3>Dover's Economic Impact: An Analysis</h3>
Market Capitalization Analysis: The company's market capitalization surpasses industry averages, showcasing a dominant size relative to peers and suggesting a strong market position.
Revenue Growth: Dover's remarkable performance in 3 months is evident. As of 30 September, 2024, the company achieved an impressive revenue growth rate of 1.28%. This signifies a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Industrials sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 17.5%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Dover's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 6.28% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Dover's ROA excels beyond industry benchmarks, reaching 2.99%. This signifies efficient management of assets and strong financial health.
Debt Management: Dover's debt-to-equity ratio is notably higher than the industry average. With a ratio of 0.59, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>Analyst Ratings: What Are They?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

7 Analysts Have This To Say About Dover

UBS analyst Amit Mehrotra initiates coverage on Dover (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOV#NYSE">DOV</a>) with a Neutral rating and announces Price Target of $217.

Initiation

UBS Initiates Coverage On Dover with Neutral Rating, Announces Price Target of $217

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Shares of machinery companies are trading higher. Investors may be reacting to the US presidential election and its impact on the industry.

Dover's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOV#NYSE">DOV</a>) short percent of float has fallen 10.14% since its last report. The company recently reported that it has 1.41 million shares sold short, which is 1.33% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.42 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Dover Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730232919_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Dover has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Dover's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Dover's peer group average for short interest as a percentage of float is 2.44%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(DOV) - Analyzing Dover's Short Interest

Dover shares are trading higher after Wolfe Research upgraded the stock from Peer Perform to Outperform.

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58933b2143eaaa0001698f54/meta-marshall">Morgan Stanley analyst Meta Marshall</a> upgraded the rating for Nutanix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>) from Equal-Weight to Overweight and raised the price target from $71 to $72. Nutanix shares closed at $61.59 on Friday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Macquarie analyst Eugene Hsiao upgraded NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) from Neutral to Outperform and announced a $6.6 price target. NIO shares closed at $5.26 on Friday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/59f71cb5efacff0001835807/elyse-greenspan">Wells Fargo analyst Elyse Greenspan </a>upgraded Aon plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>) from Underweight to Equal-Weight and raised the price target from $315 to $377. AON shares closed at $375.44 on Friday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wolfe Research analyst Nigel Coe upgraded the rating for Dover Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOV#NYSE">DOV</a>) from Peer Perform to Outperform and announced a $227 price target. Dover shares closed at $186.98 on Friday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Melius Research analyst Conor Cunningham upgraded Alaska Air Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) from Hold to Buy and announced a $56 price target. Alaska Air shares closed at $45.54 on Friday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying NIO stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="586" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/28094222/image-278-1024x586.png" alt="" class="wp-image-617166" style="width:612px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/28094222/image-278-1024x586.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/28094222/image-278-300x172.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/28094222/image-278-768x440.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/28094222/image-278.png 1086w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Wolfe Research analyst Nigel Coe upgrades Dover (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOV#NYSE">DOV</a>) from Peer Perform to Outperform and announces $227 price target.

Wolfe Research Upgrades Dover to Outperform, Announces $227 Price Target

JP Morgan analyst Stephen Tusa maintains Dover (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOV#NYSE">DOV</a>) with a Overweight and raises the price target from $210 to $212.

JP Morgan Maintains Overweight on Dover, Raises Price Target to $212

Dover shares are trading lower after the company reported worse-than-expected Q3 financial results and cut its FY24 adjusted EPS guidance below estimates.

Dover Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOV#NYSE">DOV</a>) shares are trading lower on Thursday after the<a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41511869/dover-reports-third-quarter-2024-results" rel="noreferrer noopener"> company reported third-quarter results</a>.
Revenue stood at $1.984 billion, an increase of&nbsp;1%&nbsp;year-over-year, missing the&nbsp;consensus of&nbsp;$2.045 billion.&nbsp;
Segment earnings margin expanded to&nbsp;22.6% from 21.9% a year ago. Total adjusted segment EBITDA margin expanded to&nbsp;24.4%&nbsp;from&nbsp;23.7%&nbsp;a year ago.
Booking increased&nbsp;5.6%&nbsp;Y/Y to&nbsp;$1.853 billion in the quarter. Adjusted EPS was&nbsp;$2.27, up&nbsp;6% over the prior year, missing <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">the consensus of&nbsp;$2.29</a>.
Operating cash flow for the quarter totaled&nbsp;$353.2 million, and free cash flow was&nbsp;$315.5 million.
2024&nbsp;Outlook: Dover lowered adjusted EPS from&nbsp;$9.05 &#8211; $9.20 to $8.08&nbsp;&#8211;&nbsp;$8.18 (consensus of&nbsp;$8.84)&nbsp;and&nbsp;revised revenue growth <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">forecast from&nbsp;3% –&nbsp;4% to 1% &#8211; 3%</a>.
Full-year guidance&nbsp;excludes the impact of the Environmental Solutions Group business unit, which was moved to discontinued operations for reporting purposes, while the prior outlook included the unit.
Dover&#8217;s President and Chief Executive Officer, Richard J. Tobin, said, &#8220;Top line performance was broad-based across the majority of the portfolio, more than offsetting near-term headwinds in polymer processing, beverage can-making, and heat exchangers for European heat pumps. Consolidated bookings continued their positive trajectory, with robust order rates in our secular-growth-exposed markets.&#8221;
&#8221;We closed the divestiture of our&nbsp;Environmental Solutions Group&nbsp;business in early October, reducing our exposure to cyclical capital goods. We expect to end the year with substantial firepower to pursue value-creating capital deployment as we continue to expand our businesses in high growth, high margin priority platforms.&#8221;
&#8221;We have a constructive outlook for the remainder of 2024 and for next year. Underlying end market demand is very healthy across the portfolio driven by our secular growth platforms, coupled with the bottoming of our long-cycle-exposed end markets in 2024.&#8221;
Investors can gain exposure to the stock via ProShares S&amp;P Kensho Smart Factories ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAKX#NYSE">MAKX</a>) and iShares Trust iShares U.S. Manufacturing ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MADE#NYSE">MADE</a>).
Price Action: DOV shares are down 1.96% at $187.93 at the last check Thursday.
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Dover's Q3 Earnings Miss Amid Soft Revenue Growth, Cuts 2024 Outlook

FULL YEAR 2024&nbsp;GUIDANCE:
In 2024, Dover expects to generate GAAP EPS from continuing operations in the range of&nbsp;$10.11&nbsp;to&nbsp;$10.21&nbsp;(adjusted EPS from continuing operations of&nbsp;$8.08&nbsp;to&nbsp;$8.18), based on full year revenue growth of&nbsp;1%&nbsp;to&nbsp;3%. Full year 2024&nbsp;guidance&nbsp;excludes the impact of the Environmental Solutions Group business unit, which was moved to discontinued operations for reporting purposes.

Dover For 2024 Lowers Adjusted EPS Outlook From $9.05 - $9.20 To $8.08 - $8.18 (Est $8.84), And Revenue Growth Forecast From 3%-4% To 1%-3%.

Dover (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOV#NYSE">DOV</a>) reported quarterly earnings of $2.27 per share which missed the analyst consensus estimate of $2.29 by 0.87 percent. This is a 6.07 percent increase over earnings of $2.14 per share from the same period last year. The company reported quarterly sales of $1.984 billion which missed the analyst consensus estimate of $2.045 billion by 2.99 percent. This is a 1.33 percent increase over sales of $1.958 billion the same period last year.

Earnings Misses

Dover Q3 2024 Adj. EPS $2.27 Misses $2.29 Estimate, Sales $1.984B Miss $2.045B Estimate

Dover (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOV#NYSE">DOV</a>) is gearing up to announce its quarterly earnings on Thursday, 2024-10-24. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Dover will report an earnings per share (EPS) of $2.43.
Investors in Dover are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
<h3>Earnings Track Record</h3>
In the previous earnings release, the company beat EPS by $0.15, leading to a 0.59% drop in the share price the following trading session.
Here's a look at Dover's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>2.21</td>
<td>1.87</td>
<td>2.43</td>
<td>2.33</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>2.36</td>
<td>1.95</td>
<td>2.45</td>
<td>2.35</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-1.0%</td>
<td>1.0%</td>
<td>1.0%</td>
<td>-2.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729706478_0.png" alt="eps graph" />
<h3>Market Performance of Dover's Stock</h3>
Shares of Dover were trading at $191.4 as of October 22. Over the last 52-week period, shares are up 46.84%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analyst Observations about Dover</h3>
For investors, grasping market sentiments and expectations in the industry is vital. This analysis explores the latest insights regarding Dover.
Dover has received a total of 7 ratings from analysts, with the consensus rating as Outperform. With an average one-year price target of $204.86, the consensus suggests a potential 7.03% upside.
<h3>Peer Ratings Overview</h3>
In this analysis, we delve into the analyst ratings and average 1-year price targets of Fortive, Xylem and Snap-on, three key industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>Fortive is maintaining an Outperform status according to analysts, with an average 1-year price target of $87.92, indicating a potential 54.06% downside.</li>
<li>The consensus among analysts is an Buy trajectory for Xylem, with an average 1-year price target of $161.6, indicating a potential 15.57% downside.</li>
<li>The consensus outlook from analysts is an Buy trajectory for Snap-on, with an average 1-year price target of $333.83, indicating a potential 74.41% upside.</li>
</ul>
<h3>Peer Analysis Summary</h3>
In the peer analysis summary, key metrics for Fortive, Xylem and Snap-on are highlighted, providing an understanding of their respective standings within the industry and offering insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Dover</td>
<td>Outperform</td>
<td>3.72%</td>
<td>$821.57M</td>
<td>5.36%</td>
</tr>
<tr>
<td>Fortive</td>
<td>Outperform</td>
<td>1.70%</td>
<td>$928.30M</td>
<td>1.86%</td>
</tr>
<tr>
<td>Xylem</td>
<td>Buy</td>
<td>25.96%</td>
<td>$819M</td>
<td>1.89%</td>
</tr>
<tr>
<td>Snap-on</td>
<td>Buy</td>
<td>-1.06%</td>
<td>$587.80M</td>
<td>4.67%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Dover ranks in the middle for consensus rating. It ranks at the bottom for revenue growth. It ranks at the top for gross profit. It ranks in the middle for return on equity.
<h3>All You Need to Know About Dover</h3>
Dover is a diversified manufacturer and solutions provider delivering equipment and components, consumable supplies, aftermarket parts, software digital solutions, and support services. It operates through five segments: engineered systems, clean energy, and fueling solutions, imaging and identification, pumps and process solutions, and climate and sustainability technologies equipment.
<h3>Dover: A Financial Overview</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Revenue Growth: Over the 3 months period, Dover showcased positive performance, achieving a revenue growth rate of 3.72% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Industrials sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 12.94%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Dover's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 5.36%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Dover's ROA excels beyond industry benchmarks, reaching 2.42%. This signifies efficient management of assets and strong financial health.
Debt Management: With a below-average debt-to-equity ratio of 0.59, Dover adopts a prudent financial strategy, indicating a balanced approach to debt management.
<a href="https://www.benzinga.com/quote/DOV/earnings">To track all earnings releases for Dover visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview For Dover

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer recommended buying Coterra Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTRA#NYSE">CTRA</a>). &#8220;It can make money even at these<a href="https://www.benzinga.com/quote/CTRA"> levels,&#8221; he noted</a>.
On Oct. 10, Scotiabank analyst Paul Cheng maintained Coterra Energy with a Sector Outperform and lowered the price target from $35 to $32.
&#8220;It trades with the whole group, and the group is actually trading very, very well,&#8221; Cramer said when asked about Energy Transfer (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ET#NYSE">ET</a>). &#8220;You're in good shape with ET.&#8221;
Energy Transfer will release earnings for the third quarter on Wednesday, Nov. 6, after the closing bell.
&#8220;Tim Wentworth [CEO of Walgreens] is really an excellent CEO. The bad news is you're up against Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>),&#8221; Cramer said when asked about Walgreens Boots Alliance, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>). &#8220;I'm a a believer in Tim, I really hope it works. But that is a one tough spot he's got himself in.&#8221;
On Oct. 15, Walgreens reported fourth-quarter fiscal year 2024 sales of $37.55 billion, up 6% year over year (+6.1% on constant currency), beating the consensus of $35.76 billion, reflecting sales growth <a href="https://www.benzinga.com/news/earnings/24/10/41333092/walgreens-boots-alliance-outlines-three-cost-saving-strategy-as-q4-earnings-beat-street-estimates">across all segments</a>.
The &#8220;Mad Money&#8221; host said it's going to be a good quarter for Dover (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOV#NYSE">DOV</a>). &#8220;It's in the data center, that's why we like it,&#8221; he added.
On Oct. 17, Mizuho analyst Brett Linzey maintained Dover with an Outperform and raised the price target from $200 to $220.
&#8220;This is a very tough situation because all of cosmetics are in a downturn that is so staggering that it caught everybody by surprise,&#8221; Cramer said when asked about e.l.f. Beauty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>).
&#8220;I do think that, when they come back, this one will come back faster than all of them,&#8221; he added.
On Oct. 16, Truist Securities analyst Bill Chappell maintained e.l.f. Beauty with a Buy and lowered the price target from $210 to $130.
Price Action:
<ul>
<li>Energy Transfer shares fell 0.5% to settle at $16.41 on Friday.</li>
<li>Walgreens shares gained 1.2% to close at $10.79.</li>
<li>Coterra Energy shares fell 1.2% to close at $23.78 on Friday.</li>
<li>e.l.f. Beauty shares gained 0.2% to settle at $108.20.</li>
<li>Dover shares fell 0.3% to close at $194.38 on Friday.</li>
</ul>
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Dividend aristocrats are known for their market resilience, and regular dividend increases, benefitting investors. Hence, investing in fundamentally sound dividend aristocrat stocks Emerson Electric (EMR), Cardinal Health (CAH), and Dover (DOV) could be wise for consistent payouts. Read more... Dividend aristocrats are well-established and well-performing companies that enjoy sharing their profits with their shareholders in the form of dividends. Their long history of dividend payments and consistent dividend increases appeal to a large number of investors who are seeking regular income and stability.
Against this backdrop, it could be wise to invest in dividend aristocrats stocks Emerson Electric Co. (<a href="https://stocknews.com/stock/EMR/">EMR</a>), Cardinal Health, Inc. (<a href="https://stocknews.com/stock/CAH/">CAH</a>), and Dover Corporation (<a href="https://stocknews.com/stock/DOV/">DOV</a>) for stability and long-term gains.
Owing to contributing factors like increased consumer spending, exports, federal government spending, and a rise in business investment, the <a href="https://www.bea.gov/news/glance">U.S. real GDP grew at 2.8%</a> during the third quarter of 2024. While the growth was optimistic, it lagged behind the second quarter's GDP growth of 3.0%, showing mixed signs.
During October alone, personal income increased by $147.4 billion or 0.6%, and disposable personal income increased by $144.1 billion or 0.7% over the same period.
Amid the economy's current trends, investors could lean towards stocks of companies that pay regular dividends to maintain stability and add a regular income stream. In the dividend stocks segment, <a href="https://www.investopedia.com/terms/d/dividend-aristocrat.asp">dividend aristocrats</a> are companies falling in the S&amp;P 500 index, which increases the size of their payouts annually.
Dividend aristocrats are large-sized, well-established entities with stable profits and high dividend yields and who have maintained dividend payments to shareholders for at least 25 straight years. They also offer safeguards against market turmoil and allow optimum diversification.
Therefore, dividend aristocrats are an ideal addition to enhance investment portfolio diversification, combat market uncertainties, and gain reliable income. Considering these encouraging trends, let's delve into the fundamentals of the top dividend aristocrats who have grown their dividends for more than 25 years.
Emerson Electric Co. (<a href="https://stocknews.com/stock/EMR/">EMR</a>)
EMR is a technology and software company that offers various solutions internationally. The company operates in seven segments: Final Control; Measurement &amp; Analytical; Discrete Automation; Safety &amp; Productivity; Control Systems &amp; Software; Test &amp; Measurement; and AspenTech.
On November 19, EMR made a strategic investment through its corporate venture capital arm, Emerson Ventures, in EECOMOBILITY, a startup that specializes in advanced battery testing and monitoring software. The company's strategic investment supports advanced AI software for rapid production testing of batteries.
On November 5, EMR declared a quarterly cash dividend increase to $0.5275 per share of common stock, which was paid on December 10, 2024, to stockholders of record on November 15, 2024.
EMR has raised its dividend for 28 consecutive years. It pays an annual dividend of $2.11, which translates to a yield of 1.61% at the current share price. Its four-year average dividend yield is 2.19%. Moreover, the company's dividend payouts have increased at a CAGR of 1.3% over the past five years.
Also, on the same date, the company announced three key strategic and financial actions for the final phase of its portfolio transformation into an industrial technology leader focused on automation. This included a proposal to acquire the remaining outstanding shares of AspenTech for $240 per share in cash, a review of strategic alternatives, and plans to repurchase shares.
EMR reported net sales of $4.62 billion for the fourth quarter that ended September 30, 2024, up 12.9% year-over-year. Its adjusted segment <a href="https://www.investopedia.com/terms/e/ebita.asp">EBITA</a> increased 15.8% from the prior year's quarter to $1.21 billion. The company's net earnings came in at $968 million, indicating growth of 31.2% year-over-year, and its adjusted EPS grew by 14.7% from the year-ago value to $1.48.
Furthermore, the company's free cash flow increased 10.1% from the previous year's period to $905 million.
Analysts expect EMR's revenue and EPS for the first quarter (ending December 2024) to grow 2.8% and 5.1% year-over-year to $4.23 billion and $1.28, respectively. Also, the company topped the consensus EPS estimates in all of the four trailing quarters, which is promising.
Shares of EMR have surged 20.9% over the past six months and 45% over the past year to close the last trading session at $131.16.
EMR's solid fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. It has an overall rating of B, translating to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
EMR has a B grade for Momentum and Quality. It is ranked #34 out of 89 stocks in the <a href="https://stocknews.com/category/industrial-equipment/">Industrial - Equipment</a> industry.
In addition to the POWR Ratings we've stated above, we also have EMR ratings for Growth, Value, Sentiment, and Stability. Get all EMR ratings <a href="https://stocknews.com/stock/EMR/">here</a>.
Cardinal Health, Inc. (<a href="https://stocknews.com/stock/CAH/">CAH</a>)
CAH operates internationally as a healthcare services and products company. The company provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home. It operates in Pharmaceutical and Specialty Solutions, and Global Medical Products and Distribution segments.
On November 20, CAH released its Kendall SCD SmartFlow&#x2122; compression system, the next generation of the Kendall&#x2122; compression series providing enhanced clinician and patient experience. The new system helps prevent venous thromboembolism events, enhance blood circulation, and treat pain and swelling related to venous stasis.
On November 11, CAH entered into definitive agreements to acquire two companies. CAH will purchase majority stakes of GI Alliance for approximately $2.8 billion in cash. It will also acquire the Advanced Diabetes Supply Group for around $1.1 billion in cash. The strategic acquisition of the two companies will accelerate CAH's strategic growth areas and enhance patient care.
On November 5, CAH's Board of Directors approved a quarterly dividend of $0.5056 per share. The dividend will be paid on January 15, 2025, to shareholders of record at the close of business on January 2, 2025.
CAH's annual dividend payment of $2.02 translates to a yield of 1.72% at the current share price. Its four-year average dividend yield is 2.78%. Also, the company's dividend payouts have increased at a CAGR of 1% over the past three years. CAH has raised its dividends for 29 consecutive years.
For the first quarter that ended September 30, 2024, CAH posted revenue of $52.28 billion, and its non-GAAP operating earnings grew 12.2% from the year-ago value to $625 million. Also, the company's non-GAAP net earnings attributable to CAH stood at $460 million or $1.88 per common share, reflecting growth of 7% and 9.3% from the prior-year quarter, respectively.
For the fiscal year 2025, the company raised its guidance for non-GAAP EPS attributable to CAH to $7.75 to $7.90 from the previous range of $7.55 to $7.70. It also updated its Pharmaceutical and Specialty Solutions segment profit outlook to 4% to 6% growth from the prior 1% to 3% range.
Street expects CAH's EPS for the third quarter (ending March 2025) to increase 5.2% year-over-year to $2.19. For the fiscal year (ending June 2025), the company's EPS is expected to grow 3.8% year-over-year to $7.82. Also, the company has topped the consensus EPS estimates in all four trailing quarters.
CAH's stock has gained 18.7% over the past six months and 8.8% over the past year to close the last trading session at $117.46.
CAH's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
The stock has a B grade for Value and Sentiment. CAH is ranked #12 among 62 stocks in the <a href="https://stocknews.com/category/medical-services/">Medical - Services</a> industry.
<a href="https://stocknews.com/stock/CAH/">Click here</a> to access CAH's Quality, Growth, Stability, and Momentum ratings.
Dover Corporation (<a href="https://stocknews.com/stock/DOV/">DOV</a>)
DOV offers equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services globally. It operates in segments like: Engineered Products; Clean Energy &amp; Fueling; Imaging &amp; Identification; Pumps &amp; Process Solutions; and Climate &amp; Sustainability Technologies.
On December 11, DOV's wholly owned subsidiary Markem-Imaje launched its Ultraply ribbons and self-adhesive labels range. Amid the rapid rise of e-commerce and direct-to-consumer models, the new range addresses the growing demand for high-quality, phone-scannable 2D barcodes with its innovative Print and Apply (P&amp;A) labelers.
On November 7, DOV's Board of Directors declared a regular quarterly cash dividend of $0.515 per share, payable on December 16, 2024, to shareholders of record as of November 29, 2024.
DOV's annualized dividend of $2.06 per share translates to a dividend yield of 1.02% on the current share price. Its four-year average yield is 1.34%. Its dividend payouts have increased at 1.1% CAGR over the past five years. Also, DOV has raised its dividends for 68 consecutive years.
For the third quarter ended September 30, 2024, DOV's revenue increased marginally year-over-year to $1.98 billion. The company's gross profit grew 3.2% from the year-ago value to $763.19 million. Adjusted earnings from continuing operations amounted to $313.99 million and $2.27 per share, up 4.3% and 6.1% from the prior year's quarter, respectively.
For the fiscal year 2024, the company expects revenue growth of 1% to 3%. Its adjusted EPS from continuing operations is expected to be between $8.08 and $8.18.
Street expects DOV's revenue for the fiscal year (ending December 2025) to increase 5.1% year-over-year to $8.20 billion, and its EPS is expected to grow 14.9% year-over-year to $9.39 for the same period. Further, the company has surpassed the consensus EPS estimates in all of the trailing four quarters.
Over the past six months, DOV's stock has surged 10.8% and 38.4% over the past year to close the last trading session at $201.36.
DOV's sound fundamentals are reflected in its POWR Ratings. The stock has a B grade for Momentum, Quality, and Stability. Within the A-rated <a href="https://stocknews.com/category/industrial-machinery/">Industrial - Machinery</a> industry, DOV is ranked #43 out of 79 stocks.
<a href="https://stocknews.com/stock/DOV/">Click here</a> to access additional ratings of DOV for Sentiment, Value, and Growth.
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EMR shares were trading at $130.63 per share on Friday afternoon, down $0.53 (-0.40%). Year-to-date, EMR has gained 36.74%, versus a 28.36% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/emr-cah-dov-3-dividend-aristocrats-with-consistent-payouts/>3 Dividend Aristocrats With Consistent Payouts</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>


Rick AllenHouse (R-GA)	$15K - $50K	stock	Purchase	Nov 08, 2021	Jun 15, 2021	House
Rick AllenHouse (R-GA)	$15K - $50K	stock	Purchase	Aug 10, 2023	Jun 15, 2021	House

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