California State Teachers Retirement System Cuts Stock Position in Dover Corporation $DOV

California State Teachers Retirement System decreased its holdings in Dover Corporation (NYSE:DOV - Free Report) by 20.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,712 shares of the industrial products company's stock after selling 46,629 shares during the quarter. California State Teachers Retirement System owned about 0.13% of Dover worth $39,632,967 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in DOV. BlackRock Inc. acquired a new position in Dover during the second quarter worth approximately $2,347,134,000. Bank of America Corp DE purchased a new stake in Dover in the 2nd quarter worth approximately $625,375,000. Bank of New York Mellon Corp acquired a new stake in Dover during the second quarter worth about $591,207,000. Norges Bank bought a new position in shares of Dover in the fourth quarter valued at about $275,907,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Dover in the 2nd quarter valued at $211,269,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Up 0.3%

Shares of Dover stock traded up $0.48 on Tuesday, hitting $189.63. The company had a trading volume of 551,970 shares, compared to its average volume of 1,145,113. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.98 and a quick ratio of 1.41. The firm has a market capitalization of $25.54 billion, a P/E ratio of 22.85, a P/E/G ratio of 1.44 and a beta of 1.15. Dover Corporation has a twelve month low of $158.97 and a twelve month high of $237.54. The stock has a 50-day moving average of $203.83 and a 200-day moving average of $211.90.

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

Dover Increases Dividend

The business also recently announced 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 of this dividend is Monday, August 31st. This represents a $2.10 annualized dividend and a yield of 1.1%. Dover's payout ratio is 25.30%.

Analysts Set New Price Targets

A number of equities research analysts have commented on DOV shares. Weiss Ratings lowered Dover from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, September 2nd. Wall Street Zen downgraded Dover from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Morgan Stanley lifted their price objective on shares of Dover from $210.00 to $230.00 and gave the company an "equal weight" rating in a report on Thursday, June 4th. Royal Bank Of Canada reduced their price target on shares of Dover from $252.00 to $227.00 and set a "sector perform" rating for the company in a research report on Friday, July 24th. Finally, Robert W. Baird set a $270.00 price target on shares of Dover in a research note on Friday, July 24th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $238.29.

About Dover

Dover Corporation is a diversified global manufacturer that designs and produces specialized equipment, components and systems for industrial and commercial customers. Its businesses serve markets including energy, transportation, food and beverage, refrigeration, manufacturing, printing and packaging.

The company's products and solutions include pumps, compressors, fluid-handling equipment, fueling and vehicle-service systems, refrigeration and heat-transfer technologies, industrial winches, digital printing and coding equipment, and systems used in textile and product identification applications.

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