Nordea Investment Management AB Has $22.70 Million Stake in Dover Corporation $DOV

Nordea Investment Management AB boosted its stake in Dover Corporation (NYSE:DOV) by 9.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 124,031 shares of the industrial products company’s stock after buying an additional 10,581 shares during the period. Nordea Investment Management AB’s holdings in Dover were worth $22,701,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of DOV. North Capital Inc. acquired a new stake in Dover in the 1st quarter valued at $29,000. N.E.W. Advisory Services LLC acquired a new stake in Dover in the 1st quarter valued at $31,000. Harbour Investments Inc. boosted its stake in Dover by 51.7% in the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after buying an additional 60 shares in the last quarter. Truvestments Capital LLC boosted its stake in Dover by 1,005.9% in the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock valued at $33,000 after buying an additional 171 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. acquired a new stake in Dover in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dover in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Dover from $217.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Barclays cut their price objective on Dover from $193.00 to $190.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. Royal Bank Of Canada lifted their price objective on Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Finally, Robert W. Baird lifted their price objective on Dover from $219.00 to $234.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $212.67.

Dover Trading Up 0.2%

DOV stock opened at $166.44 on Monday. The company has a market cap of $22.82 billion, a P/E ratio of 10.04, a PEG ratio of 1.33 and a beta of 1.26. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average of $172.60 and a 200-day moving average of $175.43.

Dover (NYSE:DOV) last released its earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. The company had revenue of $1.78 billion during the quarter. Dover had a return on equity of 18.19% and a net margin of 29.29%. As a group, equities research analysts expect that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 29th. This is an increase from Dover’s previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. Dover’s dividend payout ratio is presently 12.55%.

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.