Dover Co. (NYSE:DOV) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lessened its holdings in shares of Dover Co. (NYSE:DOV) by 4.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,205 shares of the industrial products company’s stock after selling 692 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Dover were worth $2,517,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of DOV. Aristides Capital LLC purchased a new position in shares of Dover in the first quarter worth about $277,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Dover by 153.7% during the 1st 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. LRI Investments LLC acquired a new position in shares of Dover during the 1st quarter valued at about $28,000. Toronto Dominion Bank grew its holdings in shares of Dover by 2.1% in the first quarter. Toronto Dominion Bank now owns 79,143 shares of the industrial products company’s stock valued at $14,023,000 after purchasing an additional 1,643 shares during the period. Finally, First Commonwealth Financial Corp PA increased its position in Dover by 8.1% during the first quarter. First Commonwealth Financial Corp PA now owns 3,498 shares of the industrial products company’s stock worth $620,000 after purchasing an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

NYSE:DOV opened at $186.47 on Tuesday. The firm has a market capitalization of $25.63 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 2.24 and a beta of 1.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. The business’s fifty day moving average price is $181.51 and its 200 day moving average price is $173.13. Dover Co. has a 12 month low of $127.25 and a 12 month high of $192.31.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.05 EPS. On average, sell-side analysts anticipate that Dover Co. will post 9.13 earnings per share for the current fiscal year.

Dover Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DOV shares. Barclays increased their price target on shares of Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Mizuho lifted their price objective on shares of Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday. Citigroup raised their price target on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 price objective on shares of Dover in a research report on Monday, July 22nd. Finally, Royal Bank of Canada lifted their target price on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Dover has an average rating of “Moderate Buy” and an average price target of $192.63.

About Dover

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.