MML Investors Services LLC Grows Stake in Dover Co. (NYSE:DOV)

Posted by on Mar 1st, 2023

MML Investors Services LLC raised its holdings in shares of Dover Co. (NYSE:DOV – Get Rating) by 10.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,102 shares of the industrial products company’s stock after buying an additional 1,465 shares during the period. MML Investors Services LLC’s holdings in Dover were worth $1,877,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Ellevest Inc. raised its stake in shares of Dover by 47.0% during the third quarter. Ellevest Inc. now owns 244 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 78 shares in the last quarter. First Commonwealth Financial Corp PA raised its stake in shares of Dover by 2.6% during the third quarter. First Commonwealth Financial Corp PA now owns 3,096 shares of the industrial products company’s stock valued at $361,000 after acquiring an additional 78 shares in the last quarter. Tilia Fiduciary Partners Inc. raised its stake in shares of Dover by 11.6% during the third quarter. Tilia Fiduciary Partners Inc. now owns 780 shares of the industrial products company’s stock valued at $93,000 after acquiring an additional 81 shares in the last quarter. Glenview Trust Co raised its stake in shares of Dover by 1.0% during the second quarter. Glenview Trust Co now owns 8,852 shares of the industrial products company’s stock valued at $1,074,000 after acquiring an additional 84 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its stake in shares of Dover by 3.0% during the third quarter. Apollon Wealth Management LLC now owns 2,870 shares of the industrial products company’s stock valued at $335,000 after acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Dover Stock Performance

Dover stock opened at $149.90 on Wednesday. The firm has a 50 day simple moving average of $145.17 and a 200-day simple moving average of $135.86. Dover Co. has a 1-year low of $114.49 and a 1-year high of $162.88. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.74. The stock has a market cap of $20.94 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36.

Dover (NYSE:DOV – Get Rating) last posted its quarterly earnings results on Tuesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.01. Dover had a net margin of 12.52% and a return on equity of 28.55%. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter in the prior year, the company posted $1.78 EPS. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, analysts expect that Dover Co. will post 8.99 EPS for the current year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th will be given a dividend of $0.505 per share. The ex-dividend date of this dividend is Monday, February 27th. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.35%. Dover’s payout ratio is currently 27.19%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of Dover from $139.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, December 15th. JPMorgan Chase & Co. boosted their price objective on shares of Dover from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. Citigroup boosted their price objective on shares of Dover from $162.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, February 1st. Mizuho boosted their price objective on shares of Dover from $155.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, February 1st. Finally, Wells Fargo & Company boosted their price objective on shares of Dover from $149.00 to $157.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 1st. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $157.50.

Dover Company Profile

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Dover Corp. operates as a manufacturer and solutions provider delivering innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services. It operates through the following segments: Engineered Products, Clean Energy and Fueling, Imaging and Identification, Pumps and Process Solutions, and Climate and Sustainability Technologies.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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