Dover Corporation $DOV Shares Bought by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund boosted its holdings in shares of Dover Corporation (NYSE:DOV) by 32.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,617 shares of the industrial products company’s stock after purchasing an additional 3,820 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Dover were worth $2,605,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Machina Capital S.A.S. grew its position in Dover by 38.8% during the second quarter. Machina Capital S.A.S. now owns 8,779 shares of the industrial products company’s stock valued at $1,609,000 after purchasing an additional 2,452 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Dover by 9.3% during the 2nd quarter. Nordea Investment Management AB now owns 124,031 shares of the industrial products company’s stock valued at $22,701,000 after buying an additional 10,581 shares during the period. Generali Asset Management SPA SGR grew its holdings in shares of Dover by 103.4% during the 3rd quarter. Generali Asset Management SPA SGR now owns 16,020 shares of the industrial products company’s stock valued at $2,673,000 after acquiring an additional 8,145 shares in the last quarter. Advisory Resource Group increased its stake in shares of Dover by 7.7% in the second quarter. Advisory Resource Group now owns 28,732 shares of the industrial products company’s stock worth $5,264,000 after acquiring an additional 2,047 shares during the last quarter. Finally, Vinva Investment Management Ltd purchased a new stake in shares of Dover during the second quarter worth $1,411,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DOV. Barclays upped their target price on Dover from $195.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. BNP Paribas began coverage on Dover in a report on Thursday, December 4th. They issued a “neutral” rating and a $195.00 price objective on the stock. Morgan Stanley lifted their target price on shares of Dover from $185.00 to $195.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. Royal Bank Of Canada increased their price target on shares of Dover from $183.00 to $198.00 and gave the stock a “sector perform” rating in a research note on Friday, October 24th. Finally, Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $217.09.

Insider Activity

In related news, CFO Christopher B. Woenker sold 1,627 shares of the business’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $186.04, for a total transaction of $302,687.08. Following the transaction, the chief financial officer directly owned 2,553 shares in the company, valued at $474,960.12. The trade was a 38.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total value of $501,804.00. Following the completion of the transaction, the senior vice president directly owned 72,968 shares of the company’s stock, valued at approximately $13,922,294.40. This trade represents a 3.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.20% of the company’s stock.

Dover Price Performance

Shares of Dover stock opened at $203.46 on Tuesday. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $191.23 and a 200-day simple moving average of $182.13. The stock has a market capitalization of $27.91 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.41 and a beta of 1.31. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31.

Dover (NYSE:DOV) last announced its earnings results on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. The firm had revenue of $1.78 billion for the quarter. Dover has set its FY 2025 guidance at 9.500-9.600 EPS. On average, sell-side analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, November 28th. Dover’s dividend payout ratio (DPR) is currently 12.79%.

Dover Company Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.