SEB Asset Management AB Buys New Stake in Dover Corporation $DOV

SEB Asset Management AB purchased a new position in Dover Corporation (NYSE:DOV) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,745 shares of the industrial products company’s stock, valued at approximately $5,575,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DOV. Meeder Asset Management Inc. grew its stake in shares of 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 purchasing an additional 89 shares during the period. Reflection Asset Management bought a new position in shares of Dover during the 4th quarter worth approximately $26,000. MV Capital Management Inc. acquired a new stake in Dover in the 4th quarter valued at $29,000. Financial Life Planners acquired a new stake in Dover in the 1st quarter valued at $31,000. Finally, Leonteq Securities AG bought a new stake in Dover in the fourth quarter valued at $34,000. Institutional investors own 84.46% of the company’s stock.

Dover Stock Up 1.6%

Shares of NYSE DOV opened at $214.71 on Thursday. The firm’s 50-day simple moving average is $215.99 and its 200 day simple moving average is $215.49. The company has a market cap of $28.91 billion, a price-to-earnings ratio of 26.77, a price-to-earnings-growth ratio of 1.61 and a beta of 1.16. The company has a quick ratio of 1.32, a current ratio of 1.87 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 posted its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.01. Dover had a net margin of 13.30% and a return on equity of 18.01%. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter last year, the company posted $2.05 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, research analysts expect that Dover Corporation will post 10.65 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid 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 is 25.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DOV. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $229.00 price objective on shares of Dover in a report on Friday, April 24th. Morgan Stanley lifted their price target on shares of Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. Weiss Ratings raised shares of Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Barclays lifted their target price on shares of Dover from $206.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, April 24th. Finally, Wolfe Research reissued an “outperform” rating and issued a $262.00 target price on shares of Dover in a report on Thursday, July 9th. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Dover has an average rating of “Moderate Buy” and an average target price of $241.43.

Dover Profile

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.