Norges Bank Invests $275.91 Million in Dover Corporation $DOV

Norges Bank purchased a new position in shares of Dover Corporation (NYSE:DOV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,413,170 shares of the industrial products company’s stock, valued at approximately $275,907,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DOV. Financial Life Planners purchased a new position in shares of Dover during the third quarter worth about $25,000. Tompkins Financial Corp grew its holdings in shares of Dover by 102.7% during the fourth quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock worth $30,000 after buying an additional 77 shares during the last quarter. Leonteq Securities AG purchased a new position in shares of Dover during the fourth quarter worth about $34,000. Westside Investment Management Inc. grew its holdings in shares of Dover by 100.0% during the third quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company’s stock worth $38,000 after buying an additional 114 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its holdings in shares of Dover by 371.4% during the third quarter. Cornerstone Planning Group LLC now owns 264 shares of the industrial products company’s stock worth $44,000 after buying an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on DOV shares. Seaport Research Partners raised their price target on Dover from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Royal Bank Of Canada reissued a “sector perform” rating and set a $252.00 price target on shares of Dover in a report on Friday, April 24th. Barclays raised their price target on Dover from $206.00 to $230.00 and gave the stock an “equal weight” rating in a report on Friday, April 24th. Morgan Stanley set a $210.00 price objective on Dover in a report on Wednesday, February 4th. Finally, Wells Fargo & Company raised Dover from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $210.00 to $230.00 in a report on Tuesday, March 17th. Eight research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $237.36.

Dover Price Performance

Shares of DOV opened at $211.90 on Wednesday. Dover Corporation has a twelve month low of $158.97 and a twelve month high of $237.54. The stock’s 50 day moving average is $214.95 and its two-hundred day moving average is $208.55. The firm has a market capitalization of $28.53 billion, a PE ratio of 26.42, a P/E/G ratio of 1.58 and a beta of 1.17. The company has a current ratio of 1.87, a quick ratio of 1.32 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.01. Dover had a return on equity of 18.01% and a net margin of 13.30%.The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the company earned $2.05 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. Research analysts anticipate that Dover Corporation will post 10.62 earnings per share for the current year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. Dover’s payout ratio is 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.