Skandinaviska Enskilda Banken AB publ Increases Position in Dover Corporation (NYSE:DOV)

Key Points

• Skandinaviska Enskilda Banken AB increased its stake in Dover Corporation by 5.1%, acquiring an additional 1,766 shares, bringing its total holdings to 36,314 shares worth approximately $6.38 million.
• Dover recently reported earnings of $2.44 per share for the quarter, surpassing expectations, with revenue up 5.2% year-over-year, totaling $2.05 billion.
• The company has a strong dividend history, with a recent quarterly payment of $0.515 and an annualized yield of 1.10% based on a payout ratio of 12.42%.

Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 5.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,314 shares of the industrial products company's stock after purchasing an additional 1,766 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Dover were worth $6,380,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. North Capital Inc. acquired a new position in Dover during the first quarter worth $29,000. Orion Capital Management LLC purchased a new position in shares of Dover in the fourth quarter valued at $43,000. Ameriflex Group Inc. acquired a new position in shares of Dover in the fourth quarter valued at approximately $69,000. Quarry LP boosted its holdings in Dover by 257.0% in the fourth quarter. Quarry LP now owns 407 shares of the industrial products company's stock valued at $76,000 after acquiring an additional 293 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its holdings in Dover by 24.1% in the 1st quarter. SBI Securities Co. Ltd. now owns 494 shares of the industrial products company's stock valued at $87,000 after purchasing an additional 96 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Up 0.1%

NYSE DOV traded up $0.15 during mid-day trading on Thursday, reaching $182.37. 233,269 shares of the company's stock traded hands, compared to its average volume of 1,064,705. 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 company has a fifty day simple moving average of $182.67 and a 200-day simple moving average of $183.15. The company has a market cap of $25.01 billion, a price-to-earnings ratio of 11.00, a P/E/G ratio of 1.46 and a beta of 1.26. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.05. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%. The firm's revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $2.36 earnings per share. As a group, equities research analysts expect that Dover Corporation will post 9.45 EPS for the current year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Friday, May 30th. Dover's dividend payout ratio is currently 12.42%.

Analyst Upgrades and Downgrades

DOV has been the subject of several research reports. Royal Bank Of Canada lifted their price target on shares of Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Robert W. Baird raised 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. Citigroup reiterated a "buy" rating and set a $226.00 target price (up from $202.00) on shares of Dover in a research note on Monday, July 14th. Barclays lifted their price objective on Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $213.92.

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.