Nordea Investment Management AB Grows Position in Dover Co. (NYSE:DOV)

Nordea Investment Management AB boosted its stake in Dover Co. (NYSE:DOVFree Report) by 5.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 557,953 shares of the industrial products company’s stock after buying an additional 29,096 shares during the period. Nordea Investment Management AB owned approximately 0.40% of Dover worth $85,612,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of DOV. Orion Capital Management LLC purchased a new position in shares of Dover during the 3rd quarter worth approximately $32,000. Headinvest LLC purchased a new position in shares of Dover during the third quarter worth $32,000. Exchange Traded Concepts LLC purchased a new stake in shares of Dover in the 4th quarter valued at $33,000. Fairfield Bush & CO. acquired a new position in Dover during the 1st quarter worth about $48,000. Finally, Covestor Ltd boosted its holdings in Dover by 193.7% during the 2nd quarter. Covestor Ltd now owns 373 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 246 shares during the period. Institutional investors and hedge funds own 83.97% of the company’s stock.

Dover Stock Performance

NYSE DOV opened at $174.42 on Tuesday. Dover Co. has a 1 year low of $127.25 and a 1 year high of $177.64. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.40 and a quick ratio of 0.90. The company has a market capitalization of $24.40 billion, a PE ratio of 23.19, a P/E/G ratio of 1.79 and a beta of 1.27. The company has a fifty day moving average of $159.05 and a two-hundred day moving average of $147.64.

Dover (NYSE:DOVGet Free Report) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.44 by $0.01. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.16 billion. Dover had a return on equity of 25.95% and a net margin of 12.52%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 earnings per share. As a group, analysts expect that Dover Co. will post 9.07 earnings per share for the current year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.51 per share. The ex-dividend date was Wednesday, February 28th. This represents a $2.04 annualized dividend and a dividend yield of 1.17%. Dover’s dividend payout ratio (DPR) is 27.13%.

Insider Buying and Selling

In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the completion of the sale, the chief financial officer now directly owns 17,909 shares of the company’s stock, valued at approximately $3,164,699.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the sale, the director now owns 22,955 shares of the company’s stock, valued at $3,929,666.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the transaction, the chief financial officer now directly owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The disclosure for this sale can be found here. Insiders have sold a total of 25,910 shares of company stock valued at $4,318,059 over the last quarter. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

DOV has been the subject of several recent research reports. Seaport Res Ptn raised shares of Dover from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, March 12th. Oppenheimer increased their price target on Dover from $175.00 to $177.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Citigroup boosted their price objective on Dover from $167.00 to $173.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Finally, Wells Fargo & Company lifted their price target on shares of Dover from $140.00 to $167.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 19th. Four equities research 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.60.

Check Out Our Latest Analysis on Dover

Dover Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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