Public Employees Retirement System of Ohio Cuts Position in Dover Co. (NYSE:DOV)

Public Employees Retirement System of Ohio lessened its holdings in Dover Co. (NYSE:DOV) by 10.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,406 shares of the industrial products company’s stock after selling 6,046 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Dover were worth $9,463,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of DOV. Franklin Resources Inc. grew its holdings in shares of Dover by 15.4% during the fourth quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock valued at $567,426,000 after buying an additional 492,577 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Dover by 153.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after acquiring an additional 1,595,611 shares during the period. Dimensional Fund Advisors LP raised its position in Dover by 10.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,428,878 shares of the industrial products company’s stock worth $219,778,000 after acquiring an additional 140,089 shares during the period. Wellington Management Group LLP increased its stake in shares of Dover by 50.7% in the fourth quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock worth $189,433,000 after purchasing an additional 414,481 shares in the last quarter. Finally, Corient Private Wealth LLC increased its stake in shares of Dover by 15.9% in the fourth quarter. Corient Private Wealth LLC now owns 1,150,063 shares of the industrial products company’s stock worth $176,891,000 after purchasing an additional 157,614 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Trading Up 0.7 %

DOV traded up $1.24 on Monday, reaching $186.47. 930,955 shares of the company traded hands, compared to its average volume of 1,017,219. Dover Co. has a one year low of $127.25 and a one year high of $192.31. The firm has a fifty day simple moving average of $181.49 and a two-hundred day simple moving average of $172.86. The company has a market cap of $25.63 billion, a P/E ratio of 17.79, a price-to-earnings-growth ratio of 2.24 and a beta of 1.22. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. Dover had a net margin of 17.58% and a return on equity of 24.94%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the business posted $2.05 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities research analysts expect that Dover Co. will post 9.13 earnings per share for the current year.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, May 31st. Dover’s payout ratio is currently 19.60%.

Analyst Ratings Changes

A number of analysts have recently issued reports on DOV shares. Robert W. Baird reissued an “outperform” rating and issued a $208.00 price objective on shares of Dover in a research note on Monday, July 22nd. Mizuho increased their price objective on shares of Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday. Royal Bank of Canada raised their target price on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday. Oppenheimer raised their target price on shares of Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, Wells Fargo & Company raised their target price on shares of Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $192.63.

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.