Norges Bank Takes $275.91 Million Position in Dover Corporation $DOV

Norges Bank acquired a new stake in Dover Corporation (NYSE:DOV) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,413,170 shares of the industrial products company’s stock, valued at approximately $275,907,000. Norges Bank owned approximately 1.03% of Dover at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of DOV. Financial Life Planners acquired a new stake in shares of Dover in the third quarter valued at $25,000. Tompkins Financial Corp raised its stake in shares of Dover by 102.7% in the fourth quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 77 shares in the last quarter. Leonteq Securities AG acquired a new stake in shares of Dover in the fourth quarter valued at $34,000. Westside Investment Management Inc. raised its stake in shares of Dover by 100.0% in the third quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 114 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its stake in shares of Dover by 371.4% in the third quarter. Cornerstone Planning Group LLC now owns 264 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 208 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Up 2.1%

DOV opened at $211.90 on Wednesday. The business’s 50-day simple moving average is $214.95 and its 200-day simple moving average is $208.55. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.32 and a current ratio of 1.87. Dover Corporation has a one year low of $158.97 and a one year high of $237.54. The stock has a market capitalization of $28.53 billion, a P/E ratio of 26.42, a price-to-earnings-growth ratio of 1.58 and a beta of 1.17.

Dover (NYSE:DOV) last posted its earnings results on Thursday, April 23rd. The industrial products company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.01. Dover had a return on equity of 18.01% and a net margin of 13.30%.The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the firm earned $2.05 earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. Analysts anticipate that Dover Corporation will post 10.62 EPS for the current year.

Dover Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on DOV shares. Wells Fargo & Company upgraded Dover from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $210.00 to $230.00 in a research note on Tuesday, March 17th. Royal Bank Of Canada restated a “sector perform” rating and issued a $252.00 price target on shares of Dover in a research note on Friday, April 24th. Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a research note on Saturday. Oppenheimer raised their price target on Dover from $242.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Citigroup restated a “buy” rating on shares of Dover in a research note on Friday, April 24th. Eight investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $237.36.

About Dover

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.