KLP Kapitalforvaltning AS Boosts Holdings in Dover Corporation (NYSE:DOV)

KLP Kapitalforvaltning AS grew its holdings in Dover Corporation (NYSE:DOV - Free Report) by 2.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,979 shares of the industrial products company's stock after acquiring an additional 1,800 shares during the quarter. KLP Kapitalforvaltning AS owned 0.05% of Dover worth $12,118,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ecofi Investissements SA grew its stake in Dover by 1.1% in the fourth quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company's stock valued at $765,000 after purchasing an additional 50 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its stake in Dover by 4.0% in the first quarter. Fifth Third Wealth Advisors LLC now owns 1,740 shares of the industrial products company's stock valued at $306,000 after purchasing an additional 67 shares in the last quarter. Lido Advisors LLC grew its stake in Dover by 1.4% in the fourth quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company's stock valued at $923,000 after purchasing an additional 69 shares in the last quarter. Colonial Trust Co SC grew its stake in Dover by 11.1% in the fourth quarter. Colonial Trust Co SC now owns 720 shares of the industrial products company's stock valued at $135,000 after purchasing an additional 72 shares in the last quarter. Finally, Premier Path Wealth Partners LLC grew its stake in Dover by 5.5% in the first quarter. Premier Path Wealth Partners LLC now owns 1,538 shares of the industrial products company's stock valued at $270,000 after purchasing an additional 80 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DOV. Royal Bank Of Canada raised their price target on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research note on Friday. Mizuho raised their price target on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Barclays lifted their target price on Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a research note on Friday. Morgan Stanley began coverage on Dover in a research note on Monday, April 14th. They set an "equal weight" rating and a $185.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their price target on Dover from $190.00 to $211.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $213.42.

Dover Stock Down 0.0%

DOV traded down $0.09 during trading on Friday, hitting $186.55. 1,579,882 shares of the company's stock traded hands, compared to its average volume of 1,078,183. The stock has a market capitalization of $25.58 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 1.57 and a beta of 1.26. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $222.31. The company has a current ratio of 2.13, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36. The company's 50 day simple moving average is $182.63 and its two-hundred day simple moving average is $183.16.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, beating analysts' consensus estimates of $2.39 by $0.05. Dover had a return on equity of 18.77% and a net margin of 29.29%. The business had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same period last year, the firm earned $2.36 earnings per share. The business's quarterly revenue was up 5.2% on a year-over-year basis. Analysts predict that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a dividend of $0.515 per share. The ex-dividend date was Friday, May 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.10%. Dover's dividend payout ratio (DPR) is presently 12.42%.

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.