Kentucky Retirement Systems Cuts Position in Dover Co. (NYSE:DOV)

Kentucky Retirement Systems lowered its holdings in Dover Co. (NYSE:DOV) by 7.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,576 shares of the industrial products company’s stock after selling 780 shares during the period. Kentucky Retirement Systems’ holdings in Dover were worth $1,836,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Main Street Financial Solutions LLC grew its stake in shares of Dover by 2.7% in the third quarter. Main Street Financial Solutions LLC now owns 2,255 shares of the industrial products company’s stock valued at $432,000 after buying an additional 60 shares in the last quarter. Valmark Advisers Inc. raised its stake in shares of Dover by 1.6% during the second quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock valued at $715,000 after purchasing an additional 63 shares during the period. Mather Group LLC. lifted its position in shares of Dover by 2.3% during the second quarter. Mather Group LLC. now owns 3,145 shares of the industrial products company’s stock worth $557,000 after purchasing an additional 71 shares in the last quarter. Empower Advisory Group LLC boosted its stake in shares of Dover by 3.7% in 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 during the period. Finally, PFG Investments LLC grew its holdings in Dover by 3.9% during the 2nd quarter. PFG Investments LLC now owns 1,951 shares of the industrial products company’s stock valued at $352,000 after purchasing an additional 74 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DOV. Barclays upped their price objective on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a report on Monday, October 28th. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Royal Bank of Canada lifted their price target on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $208.00 price objective on shares of Dover in a research note on Monday, July 22nd. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $208.40.

Insider Buying and Selling at Dover

In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the transaction, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at $8,706,100. This represents a 2.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brad M. Cerepak sold 14,818 shares of Dover stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. The trade was a 54.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,042 shares of company stock valued at $7,368,578 in the last ninety days. Company insiders own 1.30% of the company’s stock.

Dover Stock Performance

Shares of DOV stock opened at $201.18 on Monday. Dover Co. has a 52 week low of $136.50 and a 52 week high of $204.93. The company has a market cap of $27.60 billion, a P/E ratio of 17.99, a PEG ratio of 2.70 and a beta of 1.22. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average of $191.53 and a two-hundred day moving average of $184.76.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.515 per share. The ex-dividend date is Friday, November 29th. This represents a $2.06 annualized dividend and a dividend yield of 1.02%. Dover’s dividend payout ratio is currently 18.43%.

Dover Company 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.