Dover Corporation $DOV Shares Purchased by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB increased its stake in Dover by 20.1% in the fourth quarter, adding 11,173 shares to bring its total to 66,726 shares valued at about $13.0 million.
• Analyst sentiment is positive, with several firms raising price targets and ratings; Dover now has a consensus rating of “Moderate Buy” and an average target price of $237.36.
• Dover reported better-than-expected quarterly earnings of $2.28 per share, though revenue came in below estimates, and the company also announced a quarterly dividend of $0.52 per share.

Handelsbanken Fonder AB lifted its stake in Dover Corporation (NYSE:DOV - Free Report) by 20.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 66,726 shares of the industrial products company's stock after acquiring an additional 11,173 shares during the quarter. Handelsbanken Fonder AB's holdings in Dover were worth $13,028,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Dover by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 16,733,000 shares of the industrial products company's stock worth $3,266,951,000 after acquiring an additional 120,341 shares during the last quarter. State Street Corp lifted its holdings in shares of Dover by 1.3% in the 3rd quarter. State Street Corp now owns 6,533,361 shares of the industrial products company's stock worth $1,089,961,000 after acquiring an additional 86,212 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Dover by 16.1% in the 3rd quarter. Wellington Management Group LLP now owns 2,130,657 shares of the industrial products company's stock worth $355,458,000 after acquiring an additional 294,856 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Dover by 13.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,664,306 shares of the industrial products company's stock worth $277,656,000 after acquiring an additional 193,878 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in Dover by 4.3% during the 3rd quarter. Fisher Asset Management LLC now owns 1,633,133 shares of the industrial products company's stock worth $272,456,000 after buying an additional 67,588 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Seaport Research Partners upped their target price on shares of Dover from $245.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. Wells Fargo & Company raised shares of Dover from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $210.00 to $230.00 in a research report on Tuesday, March 17th. Oppenheimer increased their target price on shares of Dover from $242.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Robert W. Baird increased their target price on shares of Dover from $255.00 to $279.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Finally, Weiss Ratings raised shares of Dover from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, March 6th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $237.36.

Dover Trading Down 1.4%

NYSE DOV opened at $207.93 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.87 and a quick ratio of 1.32. The firm's fifty day moving average price is $214.58 and its 200 day moving average price is $207.00. The company has a market capitalization of $28.00 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 1.61 and a beta of 1.21. Dover Corporation has a 12 month low of $158.97 and a 12 month high of $237.54.

Dover (NYSE:DOV - Get Free Report) last posted its earnings results on Thursday, April 23rd. The industrial products company reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $2.27 by $0.01. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.19 billion. Dover had a net margin of 13.30% and a return on equity of 18.01%. The company's revenue was up 10.1% on a year-over-year basis. During the same period last year, the firm posted $2.05 EPS. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. On average, sell-side analysts expect that Dover Corporation will post 10.65 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, May 29th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. Dover's dividend payout ratio is currently 25.94%.

Dover Company 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.

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