Teachers Retirement System of The State of Kentucky Has $1.90 Million Stake in Dover Co. (NYSE:DOV)

Teachers Retirement System of The State of Kentucky reduced its stake in shares of Dover Co. (NYSE:DOV) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,147 shares of the industrial products company’s stock after selling 222 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Dover were worth $1,903,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Financial Life Planners bought a new position in Dover during the 4th quarter valued at about $28,000. R Squared Ltd acquired a new position in shares of Dover in the 4th quarter worth approximately $34,000. EverSource Wealth Advisors LLC grew its position in Dover by 79.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 87 shares during the last quarter. Kieckhefer Group LLC acquired a new stake in Dover during the 4th quarter valued at $38,000. Finally, Golden State Wealth Management LLC bought a new position in Dover in the 4th quarter valued at $46,000. 84.46% of the stock is owned by institutional investors.

Dover Trading Down 0.3 %

NYSE DOV opened at $169.18 on Friday. Dover Co. has a 12 month low of $143.04 and a 12 month high of $222.31. The stock has a 50-day simple moving average of $176.90 and a 200 day simple moving average of $189.66. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $23.19 billion, a PE ratio of 8.70, a P/E/G ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, beating 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 analysts’ expectations of $1.88 billion. Research analysts forecast that Dover Co. will post 9.45 EPS for the current year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Friday, February 28th. Dover’s dividend payout ratio is currently 10.59%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DOV. Citigroup lowered their target price on Dover from $244.00 to $201.00 and set a “buy” rating for the company in a research note on Monday, April 14th. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Robert W. Baird reduced their target price on shares of Dover from $238.00 to $219.00 and set an “outperform” rating on the stock in a research report on Friday. UBS Group lowered their price target on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Finally, Barclays boosted their price objective on shares of Dover from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.50.

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.