Fjarde AP Fonden Fourth Swedish National Pension Fund Trims Stock Holdings in Dover Corporation (NYSE:DOV)

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its holdings in Dover Corporation (NYSE:DOV) by 18.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,062 shares of the industrial products company’s stock after selling 6,600 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Dover were worth $5,106,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Ecofi Investissements SA grew its position in shares of Dover by 1.1% during the 4th quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company’s stock valued at $765,000 after acquiring an additional 50 shares during the period. Fifth Third Wealth Advisors LLC grew its position in shares of Dover by 4.0% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,740 shares of the industrial products company’s stock valued at $306,000 after acquiring an additional 67 shares during the period. Lido Advisors LLC grew its position in shares of Dover by 1.4% during the 4th quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company’s stock valued at $923,000 after acquiring an additional 69 shares during the period. Colonial Trust Co SC grew its position in shares of Dover by 11.1% during the 4th quarter. Colonial Trust Co SC now owns 720 shares of the industrial products company’s stock valued at $135,000 after acquiring an additional 72 shares during the period. Finally, Premier Path Wealth Partners LLC grew its position in shares of Dover by 5.5% during the 1st quarter. Premier Path Wealth Partners LLC now owns 1,538 shares of the industrial products company’s stock valued at $270,000 after acquiring an additional 80 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DOV has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their target price on Dover from $211.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Royal Bank Of Canada raised their target price on Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Barclays raised their target price on Dover from $185.00 to $193.00 and gave the company an “equal weight” rating in a research report on Friday, July 25th. Wells Fargo & Company lifted their price objective on Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a report on Friday, July 25th. Finally, Robert W. Baird lifted their price objective on Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.92.

Dover Trading Down 1.6%

Shares of Dover stock opened at $176.51 on Friday. The stock has a market cap of $24.20 billion, a P/E ratio of 10.65, a P/E/G ratio of 1.43 and a beta of 1.26. The stock’s 50 day simple moving average is $182.30 and its 200-day simple moving average is $181.65. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35.

Dover (NYSE:DOV) last issued its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.05. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.36 EPS. Analysts predict that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, August 29th. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. This is an increase from Dover’s previous quarterly dividend of $0.52. Dover’s payout ratio is presently 12.42%.

Dover Profile

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.