Dover Corporation $DOV Shares Sold by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB cut its position in shares of Dover Corporation (NYSE:DOV) by 7.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,314 shares of the industrial products company’s stock after selling 195 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Dover were worth $424,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Legacy Financial Advisors Inc. lifted its stake in Dover by 1.4% in the first quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company’s stock valued at $726,000 after buying an additional 57 shares during the last quarter. Summit Financial LLC grew its holdings in Dover by 0.9% during the first quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company’s stock worth $1,159,000 after acquiring an additional 60 shares during the period. Fifth Third Wealth Advisors LLC grew its holdings in Dover by 4.0% during the first quarter. Fifth Third Wealth Advisors LLC now owns 1,740 shares of the industrial products company’s stock worth $306,000 after acquiring an additional 67 shares during the period. Premier Path Wealth Partners LLC grew its holdings in Dover by 5.5% during the first quarter. Premier Path Wealth Partners LLC now owns 1,538 shares of the industrial products company’s stock worth $270,000 after acquiring an additional 80 shares during the period. Finally, First Affirmative Financial Network grew its holdings in Dover by 4.8% during the first quarter. First Affirmative Financial Network now owns 1,834 shares of the industrial products company’s stock worth $322,000 after acquiring an additional 84 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Dover Price Performance

Shares of DOV stock opened at $172.77 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. The firm has a market cap of $23.69 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 1.37 and a beta of 1.27. The stock’s fifty day simple moving average is $180.02 and its 200 day simple moving average is $177.63. Dover Corporation has a one year low of $143.04 and a one year high of $222.31.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.05. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%.The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, analysts expect that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, August 29th. This is a boost from Dover’s previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. Dover’s dividend payout ratio is 12.55%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DOV shares. Robert W. Baird lifted their price target on Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. JPMorgan Chase & Co. raised their price objective on Dover from $211.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Barclays raised their price objective on Dover from $185.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Friday, July 25th. Citigroup restated a “buy” rating and set a $226.00 price objective (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Finally, Wells Fargo & Company raised their price objective on Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Friday, July 25th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $213.92.

About Dover

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.