Handelsbanken Fonder AB Sells 24,867 Shares of Dover Co. (NYSE:DOV)

Handelsbanken Fonder AB lessened its stake in shares of Dover Co. (NYSE:DOV) by 30.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,504 shares of the industrial products company’s stock after selling 24,867 shares during the period. Handelsbanken Fonder AB’s holdings in Dover were worth $8,845,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DOV. Adage Capital Partners GP L.L.C. increased its position in Dover by 160.2% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock valued at $199,319,000 after buying an additional 879,533 shares in the last quarter. Wellington Management Group LLP boosted its stake in Dover by 2,173.8% during the 3rd quarter. Wellington Management Group LLP now owns 817,125 shares of the industrial products company’s stock valued at $113,997,000 after purchasing an additional 781,189 shares during the last quarter. FMR LLC boosted its stake in Dover by 10.5% during the 3rd quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock valued at $333,522,000 after purchasing an additional 226,646 shares during the last quarter. Nordea Investment Management AB boosted its stake in Dover by 53.1% during the 3rd quarter. Nordea Investment Management AB now owns 528,857 shares of the industrial products company’s stock valued at $74,415,000 after purchasing an additional 183,529 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its stake in Dover by 480.7% during the 3rd quarter. Retirement Systems of Alabama now owns 184,563 shares of the industrial products company’s stock valued at $25,748,000 after purchasing an additional 152,778 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Trading Down 0.5 %

Shares of DOV stock opened at $171.42 on Thursday. Dover Co. has a 12-month low of $127.25 and a 12-month high of $178.28. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59. The stock’s 50-day moving average price is $171.04 and its 200-day moving average price is $153.84. The stock has a market capitalization of $23.55 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 1.79 and a beta of 1.27.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.01. Dover had a return on equity of 25.95% and a net margin of 12.52%. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the firm posted $2.16 earnings per share. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities research analysts predict that Dover Co. will post 9.07 EPS for the current fiscal year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders 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 yield of 1.19%. Dover’s payout ratio is currently 27.13%.

Wall Street Analysts Forecast Growth

Several analysts have commented on DOV shares. Seaport Res Ptn upgraded Dover from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Royal Bank of Canada lifted their target price on Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Barclays lifted their target price on Dover from $163.00 to $180.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Citigroup lifted their target price on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Robert W. Baird lifted their target price on Dover from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Dover presently has an average rating of “Moderate Buy” and an average target price of $175.13.

Insiders Place Their Bets

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

About Dover

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.