Andra AP fonden Acquires New Position in Dover Corporation $DOV

Andra AP fonden acquired a new stake in Dover Corporation (NYSE:DOV) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,789 shares of the industrial products company’s stock, valued at approximately $3,291,000.

A number of other institutional investors have also bought and sold shares of DOV. Meeder Asset Management Inc. grew its position in shares of Dover by 234.2% in the fourth quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 89 shares in the last quarter. Reflection Asset Management purchased a new position in Dover during the fourth quarter worth approximately $26,000. MV Capital Management Inc. acquired a new position in Dover during the fourth quarter worth $29,000. Financial Life Planners acquired a new position in Dover during the first quarter worth $31,000. Finally, Leonteq Securities AG purchased a new stake in Dover in the 4th quarter valued at $34,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DOV shares. Weiss Ratings upgraded Dover from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Seaport Research Partners upped their price objective on shares of Dover from $245.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Morgan Stanley raised their price objective on shares of Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. Oppenheimer boosted their target price on shares of Dover from $242.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $252.00 price target on shares of Dover in a research note on Friday, April 24th. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Dover has an average rating of “Moderate Buy” and a consensus price target of $241.43.

Dover Trading Up 1.6%

Shares of DOV stock opened at $214.71 on Thursday. Dover Corporation has a 1-year low of $158.97 and a 1-year high of $237.54. The firm has a market cap of $28.91 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.61 and a beta of 1.16. The company has a 50-day moving average of $215.99 and a two-hundred day moving average of $215.49. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.87 and a quick ratio of 1.32.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.01. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.19 billion. Dover had a net margin of 13.30% and a return on equity of 18.01%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.05 EPS. On average, analysts predict that Dover Corporation will post 10.65 EPS for the current year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, May 29th. Dover’s payout ratio is currently 25.94%.

Dover Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.