Dover Corporation $DOV Position Trimmed by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its holdings in shares of Dover Corporation (NYSE:DOV) by 6.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 347,303 shares of the industrial products company’s stock after selling 22,352 shares during the quarter. Teacher Retirement System of Texas’ holdings in Dover were worth $63,636,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of DOV. Nuveen LLC purchased a new position in Dover during the 1st quarter valued at about $526,081,000. Hsbc Holdings PLC grew its stake in Dover by 77.9% during the 1st quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company’s stock valued at $107,677,000 after acquiring an additional 268,931 shares in the last quarter. Strs Ohio purchased a new position in Dover during the 1st quarter valued at about $40,148,000. Allianz Asset Management GmbH grew its stake in Dover by 647.4% during the 2nd quarter. Allianz Asset Management GmbH now owns 255,648 shares of the industrial products company’s stock valued at $46,842,000 after acquiring an additional 221,443 shares in the last quarter. Finally, Auto Owners Insurance Co grew its stake in Dover by 4,768.6% during the 1st quarter. Auto Owners Insurance Co now owns 189,877 shares of the industrial products company’s stock valued at $33,358,000 after acquiring an additional 185,977 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Down 2.0%

DOV opened at $177.64 on Monday. The business has a 50 day moving average price of $172.13 and a 200 day moving average price of $176.10. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.44 and a current ratio of 2.04. The firm has a market cap of $24.36 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26.

Dover (NYSE:DOV) last posted its earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%.The firm had revenue of $1.78 billion during the quarter. Research analysts forecast that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $0.52 dividend. This is an increase from Dover’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 29th. This represents a $2.08 annualized dividend and a yield of 1.2%. Dover’s dividend payout ratio is presently 12.55%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DOV. Weiss Ratings lowered Dover from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Wall Street Zen upgraded Dover from a “hold” rating to a “buy” rating in a report on Saturday. Oppenheimer reduced their price target on Dover from $225.00 to $220.00 and set an “outperform” rating for the company in a report on Monday, October 20th. Citigroup reiterated a “buy” rating and set a $226.00 price target (up from $202.00) on shares of Dover in a report on Monday, July 14th. Finally, Royal Bank Of Canada lifted their price target on Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a report on Friday. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.00.

About Dover

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.