Dover Corporation $DOV Stock Position Raised by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB increased its stake in Dover Corporation by 9.3%, owning 124,031 shares worth approximately $22.7 million as of the latest SEC filing.
• Several other institutional investors also raised their positions in Dover, with Brighton Jones LLC and GAMMA Investing LLC increasing their stakes by 62.1% and 104.5%, respectively.
• Research analysts have a consensus rating of "Moderate Buy" for Dover, with an average target price of $212.67; recent price targets were adjusted by Barclays, Royal Bank Of Canada, and Citigroup.

Nordea Investment Management AB raised its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 9.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,031 shares of the industrial products company's stock after purchasing an additional 10,581 shares during the period. Nordea Investment Management AB owned 0.09% of Dover worth $22,701,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in shares of Dover by 62.1% in the 4th quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company's stock valued at $552,000 after acquiring an additional 1,128 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Dover by 45.4% in the 1st quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company's stock valued at $106,000 after acquiring an additional 187 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Dover by 104.5% in the 1st quarter. GAMMA Investing LLC now owns 3,205 shares of the industrial products company's stock valued at $563,000 after acquiring an additional 1,638 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Dover by 23.2% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,250 shares of the industrial products company's stock valued at $220,000 after acquiring an additional 235 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Dover by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 16,065 shares of the industrial products company's stock valued at $2,822,000 after acquiring an additional 420 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Barclays cut their price objective on Dover from $193.00 to $190.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 1st. Royal Bank Of Canada raised their price objective on 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 lifted their price target on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Citigroup reaffirmed a "buy" rating and issued a $226.00 price target (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Dover in a research report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Dover currently has a consensus rating of "Moderate Buy" and an average target price of $212.67.

Dover Price Performance

Shares of NYSE:DOV opened at $166.44 on Monday. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The firm has a market capitalization of $22.82 billion, a PE ratio of 10.04, a PEG ratio of 1.33 and a beta of 1.26. The business's 50 day moving average is $172.60 and its 200-day moving average is $175.43. 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 (NYSE:DOV - Get Free Report) last announced its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. Dover had a return on equity of 18.19% and a net margin of 29.29%.The company had revenue of $1.78 billion for the quarter. Sell-side analysts predict that Dover Corporation will post 9.45 earnings per share for the current 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 issued 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 of this dividend was Friday, August 29th. This is a boost from Dover's previous quarterly dividend of $0.52. Dover's payout ratio is 12.55%.

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.

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