Nordea Investment Management AB Lowers Holdings in Dover Corporation $DOV

Nordea Investment Management AB decreased its holdings in shares of Dover Corporation (NYSE:DOV) by 36.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,616 shares of the industrial products company’s stock after selling 49,799 shares during the quarter. Nordea Investment Management AB owned about 0.06% of Dover worth $16,831,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. First Trust Advisors LP increased its position in shares of Dover by 717.4% during the 2nd quarter. First Trust Advisors LP now owns 1,716,256 shares of the industrial products company’s stock worth $314,470,000 after purchasing an additional 1,506,288 shares during the last quarter. Norges Bank purchased a new position in Dover during the second quarter worth about $274,135,000. AQR Capital Management LLC raised its stake in shares of Dover by 912.9% in the 2nd quarter. AQR Capital Management LLC now owns 789,409 shares of the industrial products company’s stock valued at $144,572,000 after acquiring an additional 711,471 shares during the period. Qube Research & Technologies Ltd lifted its holdings in shares of Dover by 65.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,317,787 shares of the industrial products company’s stock worth $219,846,000 after acquiring an additional 520,211 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Dover by 133.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 656,349 shares of the industrial products company’s stock worth $109,499,000 after purchasing an additional 375,333 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Wall Street Zen raised Dover from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. JPMorgan Chase & Co. lifted their price objective on Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Morgan Stanley set a $210.00 price objective on Dover in a report on Wednesday, February 4th. BNP Paribas Exane assumed coverage on Dover in a research note on Thursday, December 4th. They set a “neutral” rating and a $195.00 target price on the stock. Finally, Robert W. Baird set a $255.00 target price on Dover in a report on Friday, January 30th. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.67.

Insider Transactions at Dover

In related news, SVP Ivonne M. Cabrera sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total value of $932,920.00. Following the sale, the senior vice president owned 72,188 shares of the company’s stock, valued at $16,836,407.24. This trade represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard J. Tobin sold 76,997 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the transaction, the chief executive officer owned 217,979 shares of the company’s stock, valued at $50,723,713.30. This trade represents a 26.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 82,497 shares of company stock valued at $19,196,277. 1.20% of the stock is currently owned by corporate insiders.

Dover Stock Performance

Shares of DOV stock opened at $215.67 on Wednesday. The firm has a 50 day moving average of $216.42 and a two-hundred day moving average of $194.26. The stock has a market capitalization of $29.09 billion, a PE ratio of 27.16, a P/E/G ratio of 1.63 and a beta of 1.27. The company has a quick ratio of 1.28, a current ratio of 1.79 and a debt-to-equity ratio of 0.35. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $237.54.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.03. Dover had a return on equity of 17.87% and a net margin of 13.52%.The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the firm earned $2.20 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, research analysts predict that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, February 27th. Dover’s dividend payout ratio (DPR) is presently 26.20%.

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.