Dover Co. (NYSE:DOV) Stock Holdings Decreased by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its position in Dover Co. (NYSE:DOV) by 5.0% in the second quarter, HoldingsChannel reports. The firm owned 179,462 shares of the industrial products company’s stock after selling 9,479 shares during the period. Retirement Systems of Alabama’s holdings in Dover were worth $32,384,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DOV. International Assets Investment Management LLC purchased a new position in shares of Dover during the fourth quarter valued at $8,311,000. Greenleaf Trust boosted its holdings in shares of Dover by 10.9% during the fourth quarter. Greenleaf Trust now owns 2,671 shares of the industrial products company’s stock worth $411,000 after purchasing an additional 263 shares during the period. abrdn plc grew its position in Dover by 65.4% during the fourth quarter. abrdn plc now owns 64,405 shares of the industrial products company’s stock valued at $9,906,000 after purchasing an additional 25,464 shares in the last quarter. Signaturefd LLC lifted its position in Dover by 5.6% in the 4th quarter. Signaturefd LLC now owns 3,816 shares of the industrial products company’s stock worth $587,000 after buying an additional 202 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Dover by 14.5% during the 4th quarter. CWM LLC now owns 2,391 shares of the industrial products company’s stock valued at $368,000 after buying an additional 302 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dover

In other news, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total transaction of $801,305.19. Following the completion of the transaction, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Brad M. Cerepak sold 4,341 shares of Dover stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total transaction of $801,305.19. Following the sale, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Richard J. Tobin sold 25,004 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total value of $4,549,727.84. Following the completion of the transaction, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Dover Stock Performance

DOV stock traded up $3.10 during mid-day trading on Friday, reaching $184.64. 414,591 shares of the stock traded hands, compared to its average volume of 981,016. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average of $180.38 and a two-hundred day moving average of $176.55. The firm has a market capitalization of $25.38 billion, a PE ratio of 17.74, a P/E/G ratio of 2.13 and a beta of 1.22. Dover Co. has a 52 week low of $127.25 and a 52 week high of $192.31.

Dover (NYSE:DOV) last released its earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the firm posted $2.05 EPS. The company’s revenue was up 3.7% on a year-over-year basis. As a group, equities analysts predict that Dover Co. will post 9.15 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a dividend of $0.515 per share. This is a boost from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Friday, August 30th. Dover’s dividend payout ratio is presently 19.79%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DOV. Mizuho lifted their price objective on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Barclays raised their price target on shares of Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Wells Fargo & Company upped their price objective on shares of Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Royal Bank of Canada raised their target price on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Finally, StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $192.63.

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.