Dover Corporation $DOV Shares Purchased by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB grew its holdings in Dover Corporation (NYSE:DOV) by 17.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 172,968 shares of the industrial products company’s stock after buying an additional 26,019 shares during the period. Dover accounts for about 0.7% of E. Ohman J or Asset Management AB’s holdings, making the stock its 27th biggest holding. E. Ohman J or Asset Management AB’s holdings in Dover were worth $32,354,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Dover during the second quarter worth approximately $2,347,134,000. Bank of New York Mellon Corp grew its stake in shares of Dover by 5.2% in the 1st quarter. Bank of New York Mellon Corp now owns 3,030,972 shares of the industrial products company’s stock valued at $631,806,000 after buying an additional 150,319 shares during the period. Bank of America Corp DE purchased a new stake in shares of Dover during the 2nd quarter valued at approximately $625,375,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Dover by 2.2% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 969,469 shares of the industrial products company’s stock worth $217,433,000 after acquiring an additional 20,590 shares during the period. Finally, Hsbc Holdings PLC purchased a new stake in Dover in the second quarter valued at $211,269,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Down 2.2%

DOV stock opened at $195.43 on Friday. Dover Corporation has a twelve month low of $170.00 and a twelve month high of $237.54. The company has a market cap of $26.32 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 1.75 and a beta of 1.13. The business’s 50-day simple moving average is $193.54 and its 200 day simple moving average is $207.61. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 0.33.

Dover (NYSE:DOV) last issued its earnings results on Thursday, October 22nd. The industrial products company reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.03. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.22 billion. Dover had a net margin of 13.48% and a return on equity of 18.32%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.62 EPS. On average, research analysts anticipate that Dover Corporation will post 10.65 earnings per share for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were given a dividend of $0.5250 per share. The ex-dividend date was Monday, August 31st. This is a positive change from Dover’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.1%. Dover’s dividend payout ratio (DPR) is currently 25.30%.

Analyst Ratings Changes

DOV has been the subject of several recent research reports. Wells Fargo & Company began coverage on shares of Dover in a research report on Thursday, September 24th. They issued an “overweight” rating and a $229.00 price target for the company. Robert W. Baird set a $270.00 target price on shares of Dover in a report on Friday, July 24th. Royal Bank Of Canada reduced their price objective on shares of Dover from $227.00 to $216.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 14th. Mizuho decreased their price objective on shares of Dover from $270.00 to $245.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. Finally, Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Dover has an average rating of “Moderate Buy” and a consensus target price of $237.93.

Dover Company Profile

Dover Corporation (NYSE: DOV) is a diversified manufacturer that develops and produces specialized equipment, components and engineered systems for industrial and commercial customers. Its businesses serve markets including fluid handling, equipment manufacturing, clean energy, fueling, refrigeration, heating and cooling, printing, and vehicle service.

The company’s products include pumps, compressors, controls, dispensing and fueling equipment, refrigeration systems, heat-transfer technologies, industrial machinery, vehicle lifts and service equipment, and components used in engineered industrial applications.