Handelsbanken Fonder AB Sells 5,181 Shares of Dover Corporation $DOV

Handelsbanken Fonder AB decreased its stake in shares of Dover Corporation (NYSE:DOV) by 8.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 56,066 shares of the industrial products company’s stock after selling 5,181 shares during the period. Handelsbanken Fonder AB’s holdings in Dover were worth $12,574,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of 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 worth $25,000 after acquiring an additional 89 shares in the last quarter. Reflection Asset Management purchased a new position in Dover during the fourth quarter worth about $26,000. MV Capital Management Inc. purchased a new position in Dover during the fourth quarter worth about $29,000. Financial Life Planners bought a new stake in Dover in the 1st quarter worth about $31,000. Finally, Leonteq Securities AG purchased a new stake in Dover in the 4th quarter valued at about $34,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Price Performance

Dover stock opened at $206.70 on Friday. The business’s 50 day simple moving average is $214.30 and its 200 day simple moving average is $215.74. Dover Corporation has a 12 month low of $158.97 and a 12 month high of $237.54. The company has a market cap of $27.84 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 1.58 and a beta of 1.16. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.33.

Dover (NYSE:DOV) last issued its earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.02. Dover had a return on equity of 18.32% and a net margin of 13.48%.The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same period in the previous year, the company posted $2.44 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Sell-side analysts forecast that Dover Corporation will post 10.67 EPS for the current year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.525 dividend. The ex-dividend date is Monday, August 31st. This represents a $2.10 dividend on an annualized basis and a yield of 1.0%. This is an increase from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio (DPR) is presently 25.06%.

Wall Street Analyst Weigh In

DOV has been the topic of a number of research analyst reports. Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings raised Dover from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 4th. Royal Bank Of Canada dropped their price target on Dover from $252.00 to $227.00 and set a “sector perform” rating on the stock in a report on Friday, July 24th. Barclays upped their price objective on 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 reaffirmed an “outperform” rating and set a $262.00 target price on shares of Dover in a research report on Thursday, July 9th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $238.29.

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.