Retirement Systems of Alabama Lowers Stake in Dover Co. (NYSE:DOV)

Retirement Systems of Alabama cut its position in Dover Co. (NYSE:DOV) by 83.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,062 shares of the industrial products company’s stock after selling 149,400 shares during the period. Retirement Systems of Alabama’s holdings in Dover were worth $5,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of DOV. Oddo BHF Asset Management Sas bought a new stake in Dover during the third quarter valued at about $1,823,000. Tidal Investments LLC grew its position in shares of Dover by 10.8% during the third quarter. Tidal Investments LLC now owns 10,917 shares of the industrial products company’s stock worth $2,093,000 after purchasing an additional 1,063 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Dover during the 3rd quarter valued at approximately $525,000. World Investment Advisors LLC lifted its holdings in Dover by 4.2% in the 3rd quarter. World Investment Advisors LLC now owns 3,267 shares of the industrial products company’s stock worth $626,000 after purchasing an additional 131 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in Dover by 11.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 19,675 shares of the industrial products company’s stock worth $4,028,000 after purchasing an additional 2,051 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Oppenheimer reissued an “outperform” rating and issued a $215.00 target price (up previously from $210.00) on shares of Dover in a report on Wednesday, October 16th. UBS Group initiated coverage on shares of Dover in a report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Wolfe Research raised 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. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and an average price target of $213.91.

Dover Stock Down 3.9 %

NYSE DOV opened at $188.81 on Thursday. Dover Co. has a 52 week low of $143.96 and a 52 week high of $208.26. The firm has a market capitalization of $25.90 billion, a price-to-earnings ratio of 16.89, 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 company has a fifty day moving average of $197.81 and a two-hundred day moving average of $187.69.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a dividend of $0.515 per share. The ex-dividend date was Friday, November 29th. This represents a $2.06 annualized dividend and a yield of 1.09%. Dover’s payout ratio is 18.43%.

Dover 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.