Handelsbanken Fonder AB Has $9.41 Million Position in Dover Co. (NYSE:DOV)

Handelsbanken Fonder AB raised its holdings in shares of Dover Co. (NYSE:DOV) by 26.9% in the 4th quarter, HoldingsChannel reports. The firm owned 50,137 shares of the industrial products company’s stock after buying an additional 10,615 shares during the period. Handelsbanken Fonder AB’s holdings in Dover were worth $9,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Financial Life Planners acquired a new stake in shares of Dover during the 4th quarter worth about $28,000. Ashton Thomas Securities LLC bought a new position in Dover in the 3rd quarter valued at about $33,000. R Squared Ltd acquired a new stake in Dover during the fourth quarter worth approximately $34,000. Kieckhefer Group LLC bought a new stake in shares of Dover during the fourth quarter worth approximately $38,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Dover in the fourth quarter valued at approximately $46,000. 84.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on DOV shares. The Goldman Sachs Group lifted their price target on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a report on Monday, October 28th. Royal Bank of Canada upped their price target on shares of Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. UBS Group dropped their price objective on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Finally, Oppenheimer reissued an “outperform” rating and issued a $225.00 price objective (up previously from $220.00) on shares of Dover in a report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Trading Down 2.9 %

Shares of Dover stock opened at $200.43 on Friday. The firm’s 50-day moving average price is $195.51 and its two-hundred day moving average price is $192.60. The company has a market capitalization of $27.50 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 2.06 and a beta of 1.24. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Dover Co. has a 12-month low of $161.19 and a 12-month high of $222.31.

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

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.03%. Dover’s dividend payout ratio (DPR) is currently 10.59%.

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.