Dover Co. (NYSE:DOV) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its stake in shares of Dover Co. (NYSE:DOV) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,619 shares of the industrial products company’s stock after selling 6,881 shares during the period. New York State Common Retirement Fund’s holdings in Dover were worth $22,628,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of DOV. Spire Wealth Management grew its position in Dover by 2.1% in the 4th quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock worth $464,000 after purchasing an additional 52 shares during the last quarter. Independent Advisor Alliance boosted its position in shares of Dover by 0.3% during 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. ORG Partners LLC grew its holdings in Dover by 5.4% in the 4th quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock worth $214,000 after buying an additional 58 shares in the last quarter. Trust Point Inc. grew its holdings in Dover by 3.1% in the 4th quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock worth $367,000 after buying an additional 59 shares in the last quarter. Finally, 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 valued at $432,000 after acquiring an additional 60 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

DOV has been the subject of several research analyst reports. Royal Bank of Canada upped their price objective on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Barclays raised their price objective on shares of Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Oppenheimer restated an “outperform” rating and issued a $225.00 target price (up from $220.00) on shares of Dover in a research report on Friday, January 31st. Finally, UBS Group lowered their price target on Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $218.91.

Dover Trading Down 2.9 %

NYSE DOV opened at $200.43 on Friday. The firm’s 50 day moving average price is $195.51 and its two-hundred day moving average price is $192.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. Dover Co. has a twelve month low of $161.19 and a twelve month high of $222.31. The stock has a market cap of $27.51 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 2.04 and a beta of 1.24.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Equities analysts anticipate that Dover Co. will post 9.45 EPS for the current year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, February 28th. Dover’s dividend payout ratio is currently 10.59%.

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.