Dover Co. (NYSE:DOV) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its position in Dover Co. (NYSE:DOV) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,014 shares of the industrial products company’s stock after selling 3,738 shares during the quarter. New York State Teachers Retirement System’s holdings in Dover were worth $26,454,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. State Street Corp grew its position in Dover by 0.9% in the third quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock worth $1,191,531,000 after acquiring an additional 56,149 shares during the period. Geode Capital Management LLC lifted its stake in shares of Dover by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock valued at $616,945,000 after purchasing an additional 25,993 shares during the last quarter. FMR LLC grew its holdings in shares of Dover by 5.1% during the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after purchasing an additional 149,378 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Dover by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,743 shares of the industrial products company’s stock worth $188,815,000 after purchasing an additional 17,193 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Dover by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 811,340 shares of the industrial products company’s stock valued at $155,566,000 after buying an additional 9,464 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on DOV shares. Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a research note on Monday, October 28th. Barclays upped their price target on Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Citigroup cut their price objective on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. The Goldman Sachs Group raised their target price on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada boosted their price target on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $218.91.

Dover Stock Down 0.1 %

Shares of NYSE:DOV opened at $202.46 on Friday. Dover Co. has a fifty-two week low of $159.48 and a fifty-two week high of $222.31. The firm’s 50 day moving average price is $195.26 and its 200 day moving average price is $191.66. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market cap of $27.78 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. As a group, equities research analysts predict that Dover Co. will post 9.47 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.515 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.02%. Dover’s 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.