Dover Corporation $DOV Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its stake in Dover Corporation (NYSE:DOV) by 15.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,453 shares of the industrial products company’s stock after selling 9,014 shares during the quarter. Handelsbanken Fonder AB’s holdings in Dover were worth $9,061,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its position in Dover by 62.1% in the 4th quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock worth $552,000 after buying an additional 1,128 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Dover by 26.6% during the first quarter. Allianz Asset Management GmbH now owns 34,205 shares of the industrial products company’s stock worth $6,009,000 after acquiring an additional 7,182 shares in the last quarter. Kovack Advisors Inc. acquired a new stake in Dover during the first quarter valued at $228,000. Avantax Advisory Services Inc. grew its stake in Dover by 1.8% in the first quarter. Avantax Advisory Services Inc. now owns 6,323 shares of the industrial products company’s stock valued at $1,111,000 after purchasing an additional 110 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in Dover by 0.5% in the first quarter. Cetera Investment Advisers now owns 27,256 shares of the industrial products company’s stock worth $4,788,000 after buying an additional 136 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Up 3.1%

NYSE DOV opened at $183.59 on Monday. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The company has a market capitalization of $25.18 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 1.40 and a beta of 1.29. The stock’s 50 day moving average is $173.02 and its two-hundred day moving average is $178.16. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last posted its earnings results on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%.The business had revenue of $1.78 billion during the quarter. Equities analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, November 28th. Dover’s payout ratio is presently 12.79%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Oppenheimer boosted their target price on shares of Dover from $225.00 to $228.00 and gave the stock an “outperform” rating in a research report on Friday, November 14th. Wells Fargo & Company upped their price objective on shares of Dover from $180.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, October 24th. Robert W. Baird set a $235.00 target price on Dover in a report on Friday, October 24th. Weiss Ratings cut Dover from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Finally, Wall Street Zen lowered Dover from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $212.27.

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.