Dover Corporation $DOV Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System increased its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 17,645.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,632,967 shares of the industrial products company's stock after purchasing an additional 39,409,626 shares during the quarter. California State Teachers Retirement System owned 29.43% of Dover worth $8,888,882,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in DOV. Meeder Asset Management Inc. lifted its position in shares of Dover by 234.2% in the 4th quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company's stock worth $25,000 after buying an additional 89 shares during the last quarter. Reflection Asset Management bought a new stake in shares of Dover during the 4th quarter valued at about $26,000. Clearstead Trust LLC acquired a new stake in Dover during the second quarter worth about $30,000. MV Capital Management Inc. acquired a new stake in Dover during the fourth quarter worth about $29,000. Finally, Keating Financial Advisory Services Inc. bought a new position in Dover in the second quarter worth about $34,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Dover Price Performance

Shares of NYSE:DOV opened at $194.69 on Wednesday. The firm's 50 day moving average is $205.89 and its two-hundred day moving average is $213.10. The firm has a market capitalization of $26.22 billion, a P/E ratio of 23.46, a PEG ratio of 1.46 and a beta of 1.15. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.33. Dover Corporation has a 52 week low of $158.97 and a 52 week high of $237.54.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.02. Dover had a return on equity of 18.32% and a net margin of 13.48%.The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the previous year, the firm posted $2.44 earnings per share. The business's revenue was up 6.8% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Analysts anticipate that Dover Corporation will post 10.67 earnings per share for the current year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $0.525 per share. This is a boost from Dover's previous quarterly dividend of $0.52. The ex-dividend date is Monday, August 31st. This represents a $2.10 dividend on an annualized basis and a yield of 1.1%. Dover's payout ratio is presently 25.30%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on DOV shares. Weiss Ratings lowered Dover from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, September 2nd. Royal Bank Of Canada reduced their price objective on Dover from $252.00 to $227.00 and set a "sector perform" rating for the company in a research report on Friday, July 24th. Wolfe Research restated an "outperform" rating and set a $262.00 price objective on shares of Dover in a research note on Thursday, July 9th. Morgan Stanley increased their target price on Dover from $210.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 4th. Finally, Wall Street Zen cut Dover from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $238.29.

About Dover

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover's activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.

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