Livforsakringsbolaget Skandia Omsesidigt Grows Stock Holdings in Dover Corporation $DOV

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Dover Corporation by 20.8%, bringing its total ownership to $5.84 million after acquiring an additional 5,500 shares in the 2nd quarter.
• Following recent earnings results, several analysts have raised their price targets for Dover, with prices now ranging from $185 to $234 and a consensus rating of "Moderate Buy."
• Dover Corporation reported a quarterly earnings per share of $2.44, exceeding estimates and representing a 5.2% increase in revenue compared to the previous year.

Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 20.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,886 shares of the industrial products company's stock after acquiring an additional 5,500 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Dover were worth $5,840,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC grew its holdings in Dover by 707.3% during the 1st quarter. Golden State Wealth Management LLC now owns 1,986 shares of the industrial products company's stock worth $349,000 after acquiring an additional 1,740 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Dover by 10.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,622 shares of the industrial products company's stock valued at $2,227,000 after buying an additional 1,160 shares during the period. Farther Finance Advisors LLC grew 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 buying an additional 187 shares during the period. Heartland Bank & Trust Co acquired a new stake in shares of Dover in the 1st quarter valued at about $739,000. Finally, Hsbc Holdings PLC grew its stake in shares of Dover by 77.9% in the 1st quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company's stock valued at $107,677,000 after buying an additional 268,931 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DOV has been the subject of several research reports. Barclays raised their target price on Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Wells Fargo & Company raised their target price on Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Citigroup restated a "buy" rating and issued a $226.00 target price (up from $202.00) on shares of Dover in a research note on Monday, July 14th. JPMorgan Chase & Co. raised their price target on shares of Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Finally, Robert W. Baird raised their price target 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. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Dover has an average rating of "Moderate Buy" and a consensus price target of $213.92.

Dover Stock Performance

Shares of NYSE:DOV traded down $0.76 during mid-day trading on Tuesday, reaching $169.48. The company had a trading volume of 364,307 shares, compared to its average volume of 1,039,405. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. The firm has a market cap of $23.24 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 1.36 and a beta of 1.27. The company's 50-day moving average price is $179.30 and its 200-day moving average price is $177.29. Dover Corporation has a one year low of $143.04 and a one year high of $222.31.

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, topping analysts' consensus estimates of $2.39 by $0.05. The company 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%. Dover's revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.36 EPS. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, equities research analysts anticipate that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.52 dividend. The ex-dividend date was Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. This is a positive change from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio (DPR) is presently 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.