Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 6,600 Shares of Dover Corporation $DOV

Key Points

• The Fourth Swedish National Pension Fund reduced its holdings in Dover Corporation by 18.5%, now owning 29,062 shares valued at $5.1 million after selling 6,600 shares in the first quarter.
• Several institutional investors have also adjusted their positions in Dover, with 84.46% of the stock currently held by such entities.
• Dover recently announced a quarterly dividend of $0.52 per share, marking an increase from its previous dividend, yielding approximately 1.2%.

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in Dover Corporation (NYSE:DOV - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,062 shares of the industrial products company's stock after selling 6,600 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Dover were worth $5,106,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. North Capital Inc. bought a new position in shares of Dover during the 1st quarter worth about $29,000. N.E.W. Advisory Services LLC bought a new position in shares of Dover during the 1st quarter worth about $31,000. Costello Asset Management INC bought a new position in shares of Dover during the 1st quarter worth about $35,000. Orion Capital Management LLC bought a new position in shares of Dover during the 4th quarter worth about $43,000. Finally, SouthState Corp bought a new position in shares of Dover during the 1st quarter worth about $43,000. 84.46% of the stock is owned by institutional investors.

Dover Trading Up 1.4%

Dover stock traded up $2.4080 during trading hours on Tuesday, reaching $179.5580. 1,379,010 shares of the company's stock traded hands, compared to its average volume of 1,065,522. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The firm's 50 day moving average is $182.23 and its 200-day moving average is $181.19. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95. The firm has a market capitalization of $24.62 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 1.41 and a beta of 1.26.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.39 by $0.05. The firm had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.19%. The business's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, analysts predict that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a $0.52 dividend. The ex-dividend date is Friday, August 29th. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. This is an increase from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio is 12.42%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Royal Bank Of Canada upped their price objective on shares of Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. upped their price objective 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. Citigroup reaffirmed a "buy" rating and set a $226.00 price objective (up from $202.00) on shares of Dover in a research note on Monday, July 14th. Finally, Robert W. Baird upped their price objective on shares of Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research note 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. According to MarketBeat.com, Dover has an average rating of "Moderate Buy" and a consensus price target of $213.92.

Dover Company 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.