Livforsakringsbolaget Skandia Omsesidigt Buys 157,050 Shares of 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 grew its stake in Dover Corporation (NYSE:DOV - Free Report) by 595.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 accounts for 0.0% of Livforsakringsbolaget Skandia Omsesidigt's 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 filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Nuveen LLC bought a new position in Dover in the 1st quarter worth about $526,081,000. GAMMA Investing LLC lifted its position in Dover by 35,832.0% in the 1st quarter. GAMMA Investing LLC now owns 563,054 shares of the industrial products company's stock valued at $98,917,000 after acquiring an additional 561,487 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Dover by 350.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 410,350 shares of the industrial products company's stock valued at $72,090,000 after acquiring an additional 319,319 shares in the last quarter. Woodline Partners LP lifted its holdings in shares of Dover by 352.9% during the fourth quarter. Woodline Partners LP now owns 385,180 shares of the industrial products company's stock valued at $72,260,000 after purchasing an additional 300,124 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Dover by 77.9% during the first quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company's stock valued at $107,677,000 after purchasing an additional 268,931 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Dover Stock Performance

Dover stock traded down $1.54 during trading on Friday, reaching $171.26. The company had a trading volume of 1,492,689 shares, compared to its average volume of 822,115. The firm's 50-day simple moving average is $179.67 and its 200 day simple moving average is $177.54. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The firm has a market capitalization of $23.48 billion, a price-to-earnings ratio of 10.33, a price-to-earnings-growth ratio of 1.38 and a beta of 1.27.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $2.03 billion. During the same quarter last year, the company earned $2.36 earnings per share. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Sell-side analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 29th. This is a positive change from Dover's previous quarterly dividend of $0.52. Dover's payout ratio is 12.55%.

Analysts Set New Price Targets

Several equities analysts have issued reports on DOV shares. Royal Bank Of Canada upped their target price on shares of Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Robert W. Baird increased their price objective on shares of Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Wells Fargo & Company increased their price objective on shares of Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. increased their price target on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Finally, Barclays increased their target price on Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $213.92.

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.