Nordea Investment Management AB Increases Stake in Dover Co. (NYSE:DOV)

Nordea Investment Management AB grew its holdings in shares of Dover Co. (NYSE:DOV) by 14.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,885 shares of the industrial products company’s stock after acquiring an additional 12,709 shares during the period. Nordea Investment Management AB’s holdings in Dover were worth $18,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of DOV. Independent Advisor Alliance raised its stake in shares of Dover by 0.3% in the third quarter. Independent Advisor Alliance now owns 18,036 shares of the industrial products company’s stock worth $3,458,000 after buying an additional 58 shares during the period. Main Street Financial Solutions LLC raised its stake in Dover by 2.7% during the 3rd quarter. Main Street Financial Solutions LLC now owns 2,255 shares of the industrial products company’s stock worth $432,000 after acquiring an additional 60 shares during the period. Empower Advisory Group LLC lifted its holdings in Dover by 3.7% during the third quarter. Empower Advisory Group LLC now owns 2,030 shares of the industrial products company’s stock valued at $389,000 after purchasing an additional 73 shares in the last quarter. First Commonwealth Financial Corp PA boosted its position in shares of Dover by 2.2% in the third quarter. First Commonwealth Financial Corp PA now owns 3,459 shares of the industrial products company’s stock worth $663,000 after purchasing an additional 73 shares during the period. Finally, PFG Investments LLC increased its stake in shares of Dover by 3.9% in the second quarter. PFG Investments LLC now owns 1,951 shares of the industrial products company’s stock worth $352,000 after purchasing an additional 74 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DOV. The Goldman Sachs Group upped their target price on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a research report on Monday, October 28th. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Mizuho lifted their price objective on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, UBS Group initiated coverage on shares of Dover in a research report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 target price for the company. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and a consensus target price of $214.18.

Dover Stock Down 0.5 %

Shares of NYSE:DOV opened at $186.99 on Thursday. The company has a 50-day moving average price of $196.93 and a 200 day moving average price of $188.54. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. Dover Co. has a 12 month low of $143.96 and a 12 month high of $208.26. The company has a market cap of $25.65 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 2.70 and a beta of 1.23.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, November 29th. Dover’s dividend payout ratio (DPR) is 18.43%.

Dover Profile

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.