KLP Kapitalforvaltning AS Has $12.49 Million Stock Holdings in Dover Corporation $DOV

KLP Kapitalforvaltning AS cut its position in Dover Corporation (NYSE:DOV) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,179 shares of the industrial products company’s stock after selling 800 shares during the period. KLP Kapitalforvaltning AS’s holdings in Dover were worth $12,492,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. North Capital Inc. acquired a new position in Dover during the 1st quarter valued at about $29,000. N.E.W. Advisory Services LLC acquired a new position in Dover during the 1st quarter valued at about $31,000. Investment Research & Advisory Group Inc. acquired a new position in Dover during the 2nd quarter valued at about $33,000. Truvestments Capital LLC boosted its stake in Dover by 1,005.9% during the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 171 shares during the last quarter. Finally, Costello Asset Management INC acquired a new position in Dover during the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Trading Up 0.1%

NYSE:DOV opened at $164.75 on Thursday. 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 stock has a market capitalization of $22.59 billion, a PE ratio of 9.94, a price-to-earnings-growth ratio of 1.31 and a beta of 1.26. The firm’s 50 day moving average is $174.36 and its 200 day moving average is $176.17. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $222.31.

Dover (NYSE:DOV) 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. Sell-side analysts expect 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 was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $0.52 dividend. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. Dover’s payout ratio is presently 12.55%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wells Fargo & Company cut their price target on Dover from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Monday. Weiss Ratings restated a “buy (b-)” rating on shares of Dover in a research note on Wednesday. Barclays cut their target price on Dover from $193.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 1st. Mizuho boosted their target price on Dover from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, June 13th. Finally, Robert W. Baird boosted their target price on Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $212.42.

Dover 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.