Advisor Group Holdings Inc. Grows Position in Dover Co. (NYSE:DOV)

Posted by Defense World Staff on Jun 1st, 2023

Advisor Group Holdings Inc. raised its holdings in shares of Dover Co. (NYSE:DOV – Get Rating) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,513 shares of the industrial products company’s stock after buying an additional 1,235 shares during the quarter. Advisor Group Holdings Inc.’s holdings in Dover were worth $5,757,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Dover by 1.3% in the first quarter. Vanguard Group Inc. now owns 16,895,470 shares of the industrial products company’s stock valued at $2,650,899,000 after purchasing an additional 224,091 shares during the period. State Street Corp lifted its position in Dover by 3.5% in the third quarter. State Street Corp now owns 6,867,691 shares of the industrial products company’s stock valued at $800,635,000 after buying an additional 231,562 shares during the last quarter. Boston Partners lifted its position in Dover by 3.9% in the third quarter. Boston Partners now owns 4,530,080 shares of the industrial products company’s stock valued at $529,036,000 after buying an additional 171,924 shares during the last quarter. Macquarie Group Ltd. lifted its position in Dover by 2.0% in the third quarter. Macquarie Group Ltd. now owns 3,379,487 shares of the industrial products company’s stock valued at $393,981,000 after buying an additional 64,950 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in Dover by 27.7% in the third quarter. Nuveen Asset Management LLC now owns 2,607,299 shares of the industrial products company’s stock valued at $303,959,000 after buying an additional 565,772 shares during the last quarter. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DOV. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Dover from $147.00 to $145.00 and set a “hold” rating on the stock in a report on Wednesday, April 12th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $145.00 price target on shares of Dover in a research note on Thursday, March 9th. StockNews.com began coverage on shares of Dover in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. increased their price target on shares of Dover from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, February 2nd. Finally, Morgan Stanley raised their target price on shares of Dover from $144.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 1st. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and an average price target of $162.31.

Insider Buying and Selling

In other news, CFO Brad M. Cerepak sold 34,972 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $143.25, for a total transaction of $5,009,739.00. Following the transaction, the chief financial officer now directly owns 73,878 shares of the company’s stock, valued at $10,583,023.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

Dover Stock Performance

Dover stock opened at $133.25 on Thursday. The stock’s 50 day moving average price is $143.09 and its 200 day moving average price is $143.54. The firm has a market capitalization of $18.64 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 1.09 and a beta of 1.35. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 1.32. Dover Co. has a one year low of $114.49 and a one year high of $160.66.

Dover (NYSE:DOV – Get Rating) last released its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $1.94 EPS for the quarter, hitting the consensus estimate of $1.94. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.08 billion. Dover had a return on equity of 28.27% and a net margin of 12.51%. Dover’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.90 EPS. As a group, sell-side analysts expect that Dover Co. will post 8.99 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be paid a dividend of $0.505 per share. This represents a $2.02 annualized dividend and a yield of 1.52%. The ex-dividend date is Tuesday, May 30th. Dover’s dividend payout ratio (DPR) is presently 26.93%.

Dover 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.