Literally 'Northern Dipper Seven Stars'.
斗 here reads dǒu and means a ladle-shaped measuring scoop — the seven stars form a handled dipper. In ancient China the rotation of the handle (
斗柄) through the seasons was used as a sky-calendar; 《
鹖冠子》 records:
斗柄东指,
天下皆春 — 'when the dipper handle points east, spring has come to all under heaven'.