Handelsbanken Fonder AB Has $10.27 Million Position in Dover Co. (NYSE:DOV)

Handelsbanken Fonder AB boosted its stake in Dover Co. (NYSE:DOV - Free Report) by 16.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,467 shares of the industrial products company's stock after buying an additional 8,330 shares during the quarter. Handelsbanken Fonder AB's holdings in Dover were worth $10,271,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Dover by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company's stock worth $3,045,772,000 after acquiring an additional 57,453 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Dover by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company's stock worth $618,068,000 after purchasing an additional 74,541 shares during the period. FMR LLC raised its position in shares of Dover by 1.1% during the fourth quarter. FMR LLC now owns 3,118,391 shares of the industrial products company's stock worth $585,010,000 after purchasing an additional 32,565 shares during the period. Adage Capital Partners GP L.L.C. raised its position in shares of Dover by 31.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company's stock worth $409,530,000 after purchasing an additional 524,092 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Dover by 16.6% during the fourth quarter. Northern Trust Corp now owns 1,726,523 shares of the industrial products company's stock worth $323,896,000 after buying an additional 245,535 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Dover Stock Performance

DOV traded down $2.51 during trading on Friday, hitting $176.27. The stock had a trading volume of 898,534 shares, compared to its average volume of 957,686. The company has a 50 day moving average price of $173.47 and a 200-day moving average price of $185.39. The firm has a market cap of $24.17 billion, a price-to-earnings ratio of 9.06, a P/E/G ratio of 2.06 and a beta of 1.27. Dover Co. has a one year low of $143.04 and a one year high of $222.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52.

Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.06. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.88 billion. Dover had a return on equity of 21.03% and a net margin of 32.95%. The firm's quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the company posted $1.95 EPS. As a group, research analysts predict that Dover Co. will post 9.45 EPS for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.17%. Dover's payout ratio is 12.41%.

Analyst Upgrades and Downgrades

DOV has been the subject of a number of research reports. Wall Street Zen downgraded Dover from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $176.00 price target on shares of Dover in a research report on Friday, April 25th. Barclays boosted their price target on Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Mizuho boosted their price target on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Citigroup lowered their price target on Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $208.58.

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.