Dover Corporation $DOV Position Cut by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its stake in Dover Corporation (NYSE:DOV) by 6.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 347,303 shares of the industrial products company’s stock after selling 22,352 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.25% of Dover worth $63,636,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. North Capital Inc. bought a new stake in shares of Dover during the first quarter valued at about $29,000. N.E.W. Advisory Services LLC bought a new stake in shares of Dover during the first quarter valued at about $31,000. Harbour Investments Inc. raised its stake in shares of Dover by 51.7% during the second quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 60 shares in the last quarter. Truvestments Capital LLC raised its stake in shares of Dover by 1,005.9% during the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 171 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. bought a new stake in shares of Dover during the second quarter valued at about $33,000. 84.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Dover from $217.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Weiss Ratings cut shares of Dover from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Robert W. Baird set a $235.00 target price on Dover in a report on Friday. Royal Bank Of Canada lifted their target price on Dover from $183.00 to $198.00 and gave the stock a “sector perform” rating in a report on Friday. Finally, Oppenheimer lowered their target price on Dover from $225.00 to $220.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and a consensus target price of $212.00.

Dover Trading Down 2.0%

Shares of DOV opened at $177.64 on Monday. The business’s 50-day moving average price is $172.13 and its 200 day moving average price is $176.10. The stock has a market capitalization of $24.36 billion, a P/E ratio of 10.92, a P/E/G ratio of 1.40 and a beta of 1.26. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. The firm had revenue of $1.78 billion for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%. Analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. This is an increase from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio (DPR) is 12.55%.

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.