California State Teachers Retirement System Lowers Stock Position in Dover Co. (NYSE:DOV)

California State Teachers Retirement System lowered its stake in shares of Dover Co. (NYSE:DOV - Free Report) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 218,234 shares of the industrial products company's stock after selling 2,075 shares during the period. California State Teachers Retirement System owned 0.16% of Dover worth $40,941,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ecofi Investissements SA lifted its stake in shares of Dover by 1.1% during the 4th quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company's stock worth $765,000 after purchasing an additional 50 shares during the last quarter. Spire Wealth Management raised its holdings in Dover by 2.1% in the fourth quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company's stock worth $464,000 after purchasing an additional 52 shares in the last quarter. Trust Point Inc. lifted its position in shares of Dover by 3.1% during the fourth quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company's stock valued at $367,000 after buying an additional 59 shares during the last quarter. Lido Advisors LLC boosted its holdings in shares of Dover by 1.4% in the 4th quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company's stock valued at $923,000 after buying an additional 69 shares in the last quarter. Finally, Catalina Capital Group LLC grew its position in shares of Dover by 4.2% in the 4th quarter. Catalina Capital Group LLC now owns 1,745 shares of the industrial products company's stock worth $327,000 after buying an additional 70 shares during the last quarter. Institutional investors own 84.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Robert W. Baird decreased their target price on shares of Dover from $238.00 to $219.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Royal Bank of Canada reiterated a "sector perform" rating and set a $176.00 price objective on shares of Dover in a report on Friday, April 25th. Barclays boosted their target price on Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Wall Street Zen cut Dover from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. boosted their price target on Dover from $190.00 to $211.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Dover presently has an average rating of "Moderate Buy" and a consensus target price of $207.75.

Dover Stock Performance

Shares of Dover stock traded down $1.98 on Friday, reaching $177.70. 1,483,831 shares of the stock were exchanged, compared to its average volume of 969,760. The business has a 50 day moving average price of $171.49 and a two-hundred day moving average price of $186.82. The firm has a market capitalization of $24.36 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 2.06 and a beta of 1.28. Dover Co. has a twelve month low of $143.04 and a twelve month high of $222.31. 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 (NYSE:DOV - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.99 by $0.06. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. Dover had a net margin of 32.95% and a return on equity of 21.03%. The business's revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.95 EPS. Analysts anticipate that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a $0.515 dividend. The ex-dividend date is Friday, May 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.16%. Dover's dividend payout ratio (DPR) is presently 12.41%.

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.