California State Teachers Retirement System Sells 2,075 Shares of Dover Co. (NYSE:DOV)

California State Teachers Retirement System decreased its position in Dover Co. (NYSE:DOV) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,234 shares of the industrial products company’s stock after selling 2,075 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Dover worth $40,941,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Financial Life Planners purchased a new position in shares of Dover in the 4th quarter worth approximately $28,000. R Squared Ltd purchased a new stake in shares of Dover during the 4th quarter worth approximately $34,000. EverSource Wealth Advisors LLC lifted its stake in Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 87 shares during the last quarter. Orion Capital Management LLC bought a new position in Dover during the fourth quarter valued at $43,000. Finally, Golden State Wealth Management LLC purchased a new stake in Dover in the fourth quarter worth $46,000. 84.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Barclays increased their price target on Dover from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 24th. UBS Group cut their target price on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Citigroup lowered their price target on shares of Dover from $244.00 to $201.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Mizuho set a $215.00 price target on shares of Dover in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Dover from $190.00 to $211.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.75.

Dover Trading Up 2.0%

Shares of DOV stock opened at $181.41 on Wednesday. The business has a 50-day moving average price of $171.79 and a two-hundred day moving average price of $187.44. Dover Co. has a 12-month low of $143.04 and a 12-month high of $222.31. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a market cap of $24.87 billion, a P/E ratio of 9.33, a price-to-earnings-growth ratio of 2.06 and a beta of 1.28.

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

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Friday, May 30th. Dover’s dividend payout ratio is presently 12.41%.

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.