Public Employees Retirement Association of Colorado Cuts Holdings in Dover Co. (NYSE:DOV)

Public Employees Retirement Association of Colorado trimmed its holdings in shares of Dover Co. (NYSE:DOV) by 6.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 13,271 shares of the industrial products company’s stock after selling 879 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Dover were worth $2,490,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC boosted its stake in shares of Dover by 26.6% in the 3rd quarter. Barclays PLC now owns 360,291 shares of the industrial products company’s stock worth $69,082,000 after buying an additional 75,670 shares during the last quarter. Advisory Resource Group boosted its stake in shares of Dover by 2.3% in the 3rd quarter. Advisory Resource Group now owns 24,721 shares of the industrial products company’s stock worth $4,740,000 after buying an additional 557 shares during the last quarter. Virtu Financial LLC boosted its stake in shares of Dover by 85.1% in the 3rd quarter. Virtu Financial LLC now owns 14,373 shares of the industrial products company’s stock worth $2,756,000 after buying an additional 6,608 shares during the last quarter. Anchor Investment Management LLC boosted its stake in shares of Dover by 4.1% in the 3rd quarter. Anchor Investment Management LLC now owns 3,241 shares of the industrial products company’s stock worth $621,000 after buying an additional 128 shares during the last quarter. Finally, World Investment Advisors LLC boosted its stake in shares of 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 buying an additional 131 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Price Performance

Shares of Dover stock opened at $170.03 on Wednesday. The stock’s 50-day simple moving average is $175.48 and its 200-day simple moving average is $189.43. Dover Co. has a 52 week low of $143.04 and a 52 week high of $222.31. The company has a market capitalization of $23.30 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 2.06 and a beta of 1.24. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV) last posted its earnings results on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.06. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. Dover had a return on equity of 21.03% and a net margin of 32.95%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the business earned $1.95 earnings per share. As a group, analysts expect that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.515 dividend. The ex-dividend date was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.21%. Dover’s dividend payout ratio is currently 12.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DOV shares. Morgan Stanley started coverage on Dover in a research note on Monday, April 14th. They issued an “equal weight” rating and a $185.00 price target on the stock. Robert W. Baird cut their price target on Dover from $238.00 to $219.00 and set an “outperform” rating for the company in a report on Friday, April 25th. StockNews.com lowered Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. JPMorgan Chase & Co. cut their price target on Dover from $230.00 to $189.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Oppenheimer reissued an “outperform” rating and set a $225.00 price target (up previously from $220.00) on shares of Dover in a report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and an average price target of $206.33.

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.