Andra AP fonden Acquires New Position in Dover Corporation $DOV

Andra AP fonden bought a new position in shares of Dover Corporation (NYSE:DOV) during the 1st quarter, HoldingsChannel.com reports. The fund bought 15,789 shares of the industrial products company’s stock, valued at approximately $3,291,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. boosted its position in Dover by 234.2% in the 4th quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock valued at $25,000 after buying an additional 89 shares during the period. Reflection Asset Management purchased a new stake in shares of Dover during the fourth quarter worth $26,000. MV Capital Management Inc. purchased a new stake in shares of Dover during the fourth quarter worth $29,000. Financial Life Planners acquired a new stake in shares of Dover in the first quarter valued at $31,000. Finally, Leonteq Securities AG purchased a new position in Dover in the fourth quarter valued at $34,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Performance

Shares of DOV stock opened at $214.71 on Thursday. The company has a market cap of $28.91 billion, a P/E ratio of 26.77, a PEG ratio of 1.61 and a beta of 1.16. The firm has a fifty day moving average price of $215.99 and a 200 day moving average price of $215.49. The company has a current ratio of 1.87, a quick ratio of 1.32 and a debt-to-equity ratio of 0.35. Dover Corporation has a 12 month low of $158.97 and a 12 month high of $237.54.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.01. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.19 billion. Dover had a return on equity of 18.01% and a net margin of 13.30%.Dover’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.05 EPS. Sell-side analysts predict that Dover Corporation will post 10.65 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 29th. Dover’s dividend payout ratio (DPR) is 25.94%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Royal Bank Of Canada reissued a “sector perform” rating and set a $252.00 target price on shares of Dover in a research note on Friday, April 24th. Robert W. Baird increased their price target on Dover from $255.00 to $279.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Morgan Stanley lifted their price objective on Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday, June 4th. Weiss Ratings raised Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $229.00 target price on shares of Dover in a report on Friday, April 24th. Nine investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $241.43.

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.