MML Investors Services LLC Increases Stock Holdings in Dover Co. (NYSE:DOV)

by · The Markets Daily

MML Investors Services LLC increased its stake in Dover Co. (NYSE:DOV – Free Report) by 37.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,013 shares of the industrial products company’s stock after buying an additional 6,260 shares during the quarter. MML Investors Services LLC’s holdings in Dover were worth $4,317,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of DOV. Financial Life Planners bought a new position in Dover during the 4th quarter valued at about $28,000. R Squared Ltd purchased a new position in Dover during the 4th quarter valued at $34,000. EverSource Wealth Advisors LLC grew its position in Dover by 79.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 87 shares during the last quarter. Kieckhefer Group LLC bought a new stake in shares of Dover during the fourth quarter worth $38,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Dover during the fourth quarter valued at $46,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Down 0.3 %

Shares of Dover stock opened at $169.18 on Friday. The company has a market cap of $23.19 billion, a P/E ratio of 8.70, a PEG ratio of 2.06 and a beta of 1.24. Dover Co. has a 52-week low of $143.04 and a 52-week high of $222.31. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average price is $176.90 and its 200-day moving average price is $189.66.

Dover (NYSE:DOV – Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.06. Dover had a return on equity of 21.03% and a net margin of 32.95%. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. On average, sell-side analysts predict that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.515 dividend. The ex-dividend date was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a yield of 1.22%. Dover’s dividend payout ratio (DPR) is 10.59%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Dover in a research note on Friday. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price target (up previously from $220.00) on shares of Dover in a report on Friday, January 31st. Barclays lifted their target price on Dover from $180.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday. Morgan Stanley assumed coverage on Dover in a research report on Monday, April 14th. They set an “equal weight” rating and a $185.00 price target on the stock. Finally, StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and an average target price of $209.50.

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About Dover

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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.

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