Dover Co. (NYSE:DOV) Stock Position Lowered by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its position in Dover Co. (NYSE:DOV) by 2.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,171 shares of the industrial products company’s stock after selling 752 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Dover were worth $5,472,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp raised its stake in shares of Dover by 0.9% in the 3rd quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock worth $1,191,531,000 after buying an additional 56,149 shares in the last quarter. Geode Capital Management LLC raised 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 worth $616,945,000 after buying an additional 25,993 shares in the last quarter. FMR LLC raised its stake in shares of Dover by 5.1% in the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after buying an additional 149,378 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Dover by 1.8% in 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 buying an additional 17,193 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Dover by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 828,103 shares of the industrial products company’s stock worth $155,352,000 after buying an additional 16,763 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of DOV stock opened at $179.78 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. Dover Co. has a fifty-two week low of $168.20 and a fifty-two week high of $222.31. The stock’s 50-day moving average is $194.60 and its two-hundred day moving average is $193.50. The firm has a market cap of $24.67 billion, a P/E ratio of 9.24, a PEG ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Analysts predict that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s payout ratio is currently 10.59%.

Analyst Ratings Changes

A number of brokerages recently issued reports on DOV. JPMorgan Chase & Co. lifted their target price on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. StockNews.com cut Dover from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Royal Bank of Canada lifted their target price on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Oppenheimer restated an “outperform” rating and issued a $225.00 target price (up from $220.00) on shares of Dover in a report on Friday, January 31st. Finally, Citigroup decreased their target price on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $218.91.

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.