SEB Asset Management AB Makes New $5.58 Million Investment in Dover Corporation $DOV

SEB Asset Management AB purchased a new stake in shares of Dover Corporation (NYSE:DOV) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 26,745 shares of the industrial products company’s stock, valued at approximately $5,575,000.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Dover by 62.1% in the 4th quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock worth $552,000 after acquiring an additional 1,128 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Dover by 4.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,377 shares of the industrial products company’s stock valued at $2,526,000 after acquiring an additional 676 shares during the period. Empowered Funds LLC grew its position in shares of Dover by 11.8% in the first quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company’s stock valued at $2,636,000 after purchasing an additional 1,580 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Dover in the second quarter worth about $488,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Dover in the second quarter worth about $1,030,000. Institutional investors own 84.46% of the company’s stock.

Dover Stock Up 1.6%

DOV stock opened at $214.71 on Thursday. Dover Corporation has a twelve month low of $158.97 and a twelve month high of $237.54. The company has a quick ratio of 1.32, a current ratio of 1.87 and a debt-to-equity ratio of 0.35. The company has a market cap of $28.91 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.61 and a beta of 1.16. The business’s 50-day simple moving average is $215.99 and its 200 day simple moving average is $215.49.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.27 by $0.01. Dover had a return on equity of 18.01% and a net margin of 13.30%.The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the prior year, the firm posted $2.05 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, research analysts anticipate that Dover Corporation will post 10.65 earnings per share for the current year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, May 29th. Dover’s dividend payout ratio is presently 25.94%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on DOV shares. Seaport Research Partners increased their target price on Dover from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Wall Street Zen raised Dover from a “hold” rating to a “buy” rating in a research report on Sunday, June 7th. Oppenheimer upped their price target on Dover from $242.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Citigroup reissued a “buy” rating on shares of Dover in a research report on Friday, April 24th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $252.00 target price on shares of Dover in a research report on Friday, April 24th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and an average target price of $241.43.

Dover Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.