Kentucky Retirement Systems Cuts Stock Holdings in Dover Co. (NYSE:DOV)

Kentucky Retirement Systems trimmed its stake in shares of Dover Co. (NYSE:DOV) by 1.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,446 shares of the industrial products company’s stock after selling 130 shares during the period. Kentucky Retirement Systems’ holdings in Dover were worth $1,772,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DOV. Versor Investments LP bought a new position in Dover during the third quarter valued at $1,920,000. 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 purchasing an additional 60,235 shares during 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 purchasing an additional 5,372 shares during 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 purchasing an additional 4,629 shares during the last quarter. Finally, TrueWealth Advisors LLC bought a new position in Dover during the fourth quarter valued at $475,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DOV shares. Wells Fargo & Company raised their target price on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Oppenheimer restated an “outperform” rating and issued a $225.00 target price (up previously from $220.00) on shares of Dover in a report on Friday, January 31st. The Goldman Sachs Group raised their target price on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Royal Bank of Canada raised their target price on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Finally, Citigroup lowered their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Dover has an average rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Stock Down 2.9 %

Shares of Dover stock opened at $200.43 on Friday. The firm’s 50 day moving average price is $195.51 and its 200-day moving average price is $192.60. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Dover Co. has a 52-week low of $161.19 and a 52-week high of $222.31. The company has a market cap of $27.50 billion, a P/E ratio of 10.30, a PEG ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, sell-side analysts predict that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be 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 is Friday, February 28th. Dover’s dividend payout ratio (DPR) is presently 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.