Livforsakringsbolaget Skandia Omsesidigt Increases Stock Holdings in Dover Corporation $DOV

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Dover Corporation by 595.2% in Q2, acquiring an additional 157,050 shares, bringing their total holdings to 183,436 shares valued at approximately $33.61 million.
• Several analysts have raised their price targets for Dover, with Citigroup setting a new target at $226, signaling a positive outlook with the company maintaining a consensus rating of "Moderate Buy."
• Dover Corporation recently announced a quarterly dividend of $0.52 per share, reflecting steady growth with a dividend yield of 1.2% against a backdrop of increasing earnings and revenue in Q2.

Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 595.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 183,436 shares of the industrial products company's stock after acquiring an additional 157,050 shares during the quarter. Dover makes up 0.0% of Livforsakringsbolaget Skandia Omsesidigt's investment portfolio, making the stock its 25th biggest holding. Livforsakringsbolaget Skandia Omsesidigt owned about 0.13% of Dover worth $33,611,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. North Capital Inc. purchased a new stake in shares of Dover during the 1st quarter worth approximately $29,000. N.E.W. Advisory Services LLC acquired a new stake in Dover during the 1st quarter worth $31,000. Truvestments Capital LLC lifted its position in Dover by 1,005.9% in the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 171 shares during the last quarter. Costello Asset Management INC acquired a new position in Dover in the first quarter valued at $35,000. Finally, Ransom Advisory Ltd purchased a new position in shares of Dover during the first quarter worth about $35,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Mizuho raised their price target on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Citigroup reaffirmed a "buy" rating and issued a $226.00 target price (up from $202.00) on shares of Dover in a report on Monday, July 14th. JPMorgan Chase & Co. increased their price target on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Barclays lifted their price objective on shares of Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada increased their price objective on Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $213.92.

Dover Stock Performance

NYSE DOV traded up $1.32 on Thursday, hitting $172.77. 831,383 shares of the company's stock were exchanged, compared to its average volume of 1,041,837. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. The firm's 50-day moving average price is $180.38 and its two-hundred day moving average price is $177.77. The firm has a market cap of $23.69 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 1.37 and a beta of 1.27. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, topping analysts' consensus estimates of $2.39 by $0.05. Dover had a return on equity of 18.19% and a net margin of 29.29%.The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the company posted $2.36 earnings per share. Dover's quarterly revenue was up 5.2% on a year-over-year basis. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, research analysts expect that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. This is a boost from Dover's previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, August 29th. Dover's dividend payout ratio is 12.55%.

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.