Handelsbanken Fonder AB Buys 10,615 Shares of Dover Co. (NYSE:DOV)

Handelsbanken Fonder AB raised its stake in shares of Dover Co. (NYSE:DOV) by 26.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,137 shares of the industrial products company’s stock after buying an additional 10,615 shares during the quarter. Handelsbanken Fonder AB’s holdings in Dover were worth $9,406,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC lifted its holdings in Dover by 5.1% during the third quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after acquiring an additional 149,378 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Dover by 313.7% during the 3rd quarter. National Bank of Canada FI now owns 191,127 shares of the industrial products company’s stock valued at $36,647,000 after purchasing an additional 144,930 shares in the last quarter. Barclays PLC grew its position in shares of Dover by 26.6% in the 3rd quarter. Barclays PLC now owns 360,291 shares of the industrial products company’s stock valued at $69,082,000 after purchasing an additional 75,670 shares during the period. International Assets Investment Management LLC bought a new stake in Dover during the 3rd quarter worth approximately $14,459,000. Finally, Assenagon Asset Management S.A. raised its holdings in Dover by 195.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock worth $17,077,000 after buying an additional 60,235 shares during the period. 84.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DOV has been the subject of several research analyst reports. Royal Bank of Canada increased their price objective on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. Barclays increased their target price on Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Oppenheimer restated an “outperform” rating and issued a $225.00 price target (up from $220.00) on shares of Dover in a report on Friday, January 31st. The Goldman Sachs Group increased their price objective on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, UBS Group cut their target price on Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Stock Performance

Shares of NYSE DOV opened at $200.43 on Friday. The stock has a market capitalization of $27.50 billion, a PE ratio of 10.30, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. Dover Co. has a 52 week low of $161.19 and a 52 week high of $222.31. The stock has a 50 day moving average price of $195.51 and a 200 day moving average price of $192.60. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Analysts predict that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.515 per share. The ex-dividend date is Friday, February 28th. This represents a $2.06 annualized dividend and a dividend yield of 1.03%. Dover’s dividend payout ratio is presently 10.59%.

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.