Tredje AP fonden Purchases 55,039 Shares of Dover Corporation (NYSE:DOV)

Key Points

• Tredje AP fonden increased its stake in Dover Corporation by 72.7%, acquiring an additional 55,039 shares, bringing its total holdings to 130,724 shares, valued at approximately $22.97 million.
• Research analysts have a consensus rating of "Moderate Buy" for Dover, with a target price averaging around $213.92, following upgrades from various firms such as Robert W. Baird and Citigroup.
• Dover's quarterly results showed an EPS of $2.44, surpassing estimates and reflecting a 5.2% increase in revenue compared to the previous year.

Tredje AP fonden increased its holdings in Dover Corporation (NYSE:DOV - Free Report) by 72.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 130,724 shares of the industrial products company's stock after acquiring an additional 55,039 shares during the quarter. Tredje AP fonden owned approximately 0.10% of Dover worth $22,966,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. North Capital Inc. bought a new stake in Dover in the first quarter valued at about $29,000. N.E.W. Advisory Services LLC bought a new stake in Dover in the first quarter valued at about $31,000. Orion Capital Management LLC bought a new position in shares of Dover during the fourth quarter valued at approximately $43,000. Ameriflex Group Inc. bought a new position in shares of Dover during the fourth quarter valued at approximately $69,000. Finally, Quarry LP grew its holdings in shares of Dover by 257.0% during the fourth quarter. Quarry LP now owns 407 shares of the industrial products company's stock valued at $76,000 after purchasing an additional 293 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Dover Stock Performance

Shares of NYSE:DOV traded down $6.17 during midday trading on Friday, hitting $174.97. The company's stock had a trading volume of 1,540,718 shares, compared to its average volume of 1,161,363. The stock has a market capitalization of $23.99 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 1.44 and a beta of 1.26. The stock's 50 day simple moving average is $182.70 and its 200 day simple moving average is $183.11. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada increased their price objective on Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Barclays increased their price target on Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Citigroup reaffirmed a "buy" rating and set a $226.00 price target (up from $202.00) on shares of Dover in a research note on Monday, July 14th. Mizuho raised their price objective on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Finally, Morgan Stanley assumed coverage on Dover in a research note on Monday, April 14th. They set an "equal weight" rating and a $185.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price 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.