Dover Co. (NYSE:DOV) Stake Reduced by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky decreased its position in shares of Dover Co. (NYSE:DOV) by 7.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,369 shares of the industrial products company’s stock after selling 825 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Dover were worth $1,988,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of DOV. First Citizens Bank & Trust Co. raised its holdings in shares of Dover by 6.5% during the second quarter. First Citizens Bank & Trust Co. now owns 4,456 shares of the industrial products company’s stock valued at $804,000 after buying an additional 270 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in Dover during the 2nd quarter valued at $256,000. Atria Wealth Solutions Inc. boosted its position in Dover by 36.9% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 9,009 shares of the industrial products company’s stock worth $1,626,000 after acquiring an additional 2,427 shares during the period. Fifth Third Wealth Advisors LLC bought a new position in shares of Dover in the second quarter worth $307,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Dover during the second quarter valued at $145,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analysts Set New Price Targets

DOV has been the subject of several research analyst reports. Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a report on Monday, October 28th. JPMorgan Chase & Co. increased their price objective on shares of Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Barclays boosted their target price on Dover from $190.00 to $205.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. The Goldman Sachs Group increased their price target on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Citigroup boosted their price objective on Dover from $226.00 to $236.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Dover currently has an average rating of “Moderate Buy” and an average target price of $213.91.

Dover Trading Down 0.7 %

Shares of NYSE DOV opened at $199.65 on Tuesday. Dover Co. has a 12 month low of $143.96 and a 12 month high of $208.26. The business has a fifty day simple moving average of $197.57 and a 200-day simple moving average of $187.60. The company has a market cap of $27.39 billion, a price-to-earnings ratio of 17.86, a P/E/G ratio of 2.70 and a beta of 1.22. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Friday, November 29th. Dover’s dividend payout ratio is 18.43%.

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.