Kentucky Retirement Systems Has $2.93 Million Holdings in Dover Corporation $DOV

Kentucky Retirement Systems increased its stake in shares of Dover Corporation (NYSE:DOV) by 65.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 14,066 shares of the industrial products company’s stock after acquiring an additional 5,553 shares during the period. Kentucky Retirement Systems’ holdings in Dover were worth $2,932,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of DOV. Meeder Asset Management Inc. boosted its stake in shares of Dover by 234.2% in the 4th quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 89 shares in the last quarter. Reflection Asset Management bought a new position in Dover during the 4th quarter valued at about $26,000. MV Capital Management Inc. bought a new position in Dover during the 4th quarter valued at about $29,000. Financial Life Planners acquired a new position in Dover in the first quarter valued at about $31,000. Finally, Leonteq Securities AG acquired a new stake in shares of Dover during the fourth quarter worth approximately $34,000. 84.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DOV. Royal Bank Of Canada reduced their target price on Dover from $252.00 to $227.00 and set a “sector perform” rating on the stock in a report on Friday, July 24th. Weiss Ratings upgraded Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Wall Street Zen lowered Dover from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. BMO Capital Markets upgraded Dover from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $255.00 to $240.00 in a research note on Friday, July 24th. Finally, Morgan Stanley lifted their price target on Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $238.29.

Dover Stock Up 3.1%

Shares of DOV opened at $204.16 on Friday. The business’s fifty day moving average price is $214.98 and its two-hundred day moving average price is $215.54. The firm has a market capitalization of $27.50 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 1.51 and a beta of 1.16. Dover Corporation has a 52 week low of $158.97 and a 52 week high of $237.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.41 and a current ratio of 1.98.

Dover (NYSE:DOV) last released its earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.02. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. Dover had a return on equity of 18.32% and a net margin of 13.48%.The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.44 earnings per share. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, analysts predict that Dover Corporation will post 10.64 earnings per share for the current year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a dividend of $0.52 per share. The ex-dividend date was Friday, May 29th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. Dover’s payout ratio is currently 25.06%.

Dover 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.