Norges Bank Invests $274.14 Million in Dover Corporation $DOV

Norges Bank acquired a new stake in Dover Corporation (NYSE:DOV) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 1,496,126 shares of the industrial products company’s stock, valued at approximately $274,135,000.

A number of other large investors have also bought and sold shares of DOV. Legacy Financial Advisors Inc. boosted its holdings in shares of Dover by 1.4% in the first quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company’s stock valued at $726,000 after buying an additional 57 shares during the period. Summit Financial LLC boosted its stake in Dover by 0.9% in the 1st quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company’s stock worth $1,159,000 after purchasing an additional 60 shares during the period. Harbour Investments Inc. boosted its stake in Dover by 51.7% in the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 60 shares during the period. Kornitzer Capital Management Inc. KS increased its holdings in Dover by 0.9% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 6,911 shares of the industrial products company’s stock worth $1,266,000 after purchasing an additional 60 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC raised its stake in shares of Dover by 4.9% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,282 shares of the industrial products company’s stock valued at $235,000 after purchasing an additional 60 shares during the period. 84.46% of the stock is owned by institutional investors.

Dover Price Performance

Shares of DOV opened at $185.28 on Monday. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35. The company’s fifty day simple moving average is $174.36 and its 200 day simple moving average is $178.32. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The company has a market cap of $25.41 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.40 and a beta of 1.29.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. The firm had revenue of $1.78 billion during the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. On average, research analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, November 28th. Dover’s payout ratio is 12.79%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DOV shares. Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dover in a research note on Tuesday, November 25th. Wells Fargo & Company boosted their price objective on shares of Dover from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, October 24th. Barclays raised their target price on shares of Dover from $190.00 to $195.00 and gave the company an “equal weight” rating in a research report on Friday, October 24th. Finally, UBS Group set a $200.00 price objective on shares of Dover in a research note on Friday, October 24th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $212.27.

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.