Dover Co. (NYSE:DOV) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its position in Dover Co. (NYSE:DOV) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 335,689 shares of the industrial products company’s stock after acquiring an additional 14,380 shares during the quarter. Teacher Retirement System of Texas owned 0.24% of Dover worth $62,975,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC lifted its stake in shares of Dover by 78.6% in the 4th quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company’s stock valued at $2,345,000 after purchasing an additional 5,500 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Dover by 195.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock valued at $17,077,000 after buying an additional 60,235 shares in the last quarter. Principal Financial Group Inc. lifted its position in Dover by 3.1% during the third quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock valued at $34,100,000 after buying an additional 5,372 shares in the last quarter. Empowered Funds LLC lifted its position in Dover by 54.3% during the third quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock valued at $2,523,000 after buying an additional 4,629 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Dover by 28.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 23,831 shares of the industrial products company’s stock valued at $4,471,000 after acquiring an additional 5,289 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Royal Bank of Canada boosted their price target on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. The Goldman Sachs Group increased their price objective on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. UBS Group reduced their target price on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Finally, Wells Fargo & Company raised their price target on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Stock Performance

Shares of Dover stock opened at $182.27 on Thursday. The firm has a market cap of $25.01 billion, a PE ratio of 9.37, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The firm’s 50-day simple moving average is $194.78 and its 200-day simple moving average is $193.54. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. Dover Co. has a 1 year low of $168.20 and a 1 year high of $222.31.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Equities analysts forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.13%. Dover’s dividend payout ratio (DPR) is 10.59%.

Dover Company 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.