California Public Employees Retirement System Sells 13,530 Shares of Dover Co. (NYSE:DOV)

California Public Employees Retirement System lessened its stake in Dover Co. (NYSE:DOV) by 5.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 238,979 shares of the industrial products company’s stock after selling 13,530 shares during the quarter. California Public Employees Retirement System’s holdings in Dover were worth $44,832,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of DOV. Vanguard Group Inc. increased its stake in shares of Dover by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company’s stock worth $3,045,772,000 after purchasing an additional 57,453 shares in the last quarter. State Street Corp grew its stake in Dover by 0.9% in the 3rd quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock valued at $1,191,531,000 after buying an additional 56,149 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Dover by 0.8% during the third quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock worth $616,945,000 after acquiring an additional 25,993 shares in the last quarter. Norges Bank bought a new position in shares of Dover in the fourth quarter worth $316,228,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Dover by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 828,103 shares of the industrial products company’s stock valued at $155,352,000 after purchasing an additional 16,763 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

NYSE:DOV opened at $179.23 on Thursday. The company has a market capitalization of $24.57 billion, a price-to-earnings ratio of 9.21, a PEG ratio of 2.06 and a beta of 1.24. The business has a 50 day moving average of $192.41 and a 200 day moving average of $193.48. 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 1-year low of $168.20 and a 1-year high of $222.31.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, sell-side analysts predict that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Friday, February 28th. Dover’s dividend payout ratio (DPR) is presently 10.59%.

Analyst Upgrades and Downgrades

Several brokerages have commented on DOV. StockNews.com downgraded Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Citigroup reduced their price objective on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, January 13th. The Goldman Sachs Group increased their target price on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. boosted their price target on shares of Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company increased their price objective on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $218.18.

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.