Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 19,500 Shares of Dover Co. (NYSE:DOV)

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its position in shares of Dover Co. (NYSE:DOV) by 35.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 35,662 shares of the industrial products company’s stock after selling 19,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Dover were worth $6,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in DOV. Versor Investments LP bought a new position in shares of Dover in the third quarter worth $1,920,000. Assenagon Asset Management S.A. increased its position in shares of Dover by 195.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock worth $17,077,000 after purchasing an additional 60,235 shares during the period. Principal Financial Group Inc. increased its position in shares of Dover by 3.1% in the third quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock worth $34,100,000 after purchasing an additional 5,372 shares during the period. Empowered Funds LLC increased its position in shares of Dover by 54.3% in the third quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock worth $2,523,000 after purchasing an additional 4,629 shares during the period. Finally, TrueWealth Advisors LLC bought a new position in shares of Dover in the fourth quarter worth $475,000. Institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wells Fargo & Company lifted their target price on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Barclays boosted their target price on Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Royal Bank of Canada boosted their target price on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. UBS Group lowered their target price on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Finally, Citigroup lowered their target price on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Stock Performance

Dover stock opened at $199.36 on Tuesday. The business has a 50 day moving average of $195.51 and a 200-day moving average of $192.90. Dover Co. has a 1 year low of $163.07 and a 1 year high of $222.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The company has a market capitalization of $27.36 billion, a P/E ratio of 10.25, a P/E/G ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last announced its earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. On average, equities research analysts predict that Dover Co. will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s payout ratio is presently 10.59%.

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.