Dover Corporation (NYSE:DOV) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund cut its stake in shares of Dover Corporation (NYSE:DOV - Free Report) by 33.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 3,987 shares of the industrial products company's stock after selling 2,046 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Dover were worth $700,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in DOV. Brighton Jones LLC lifted its stake in shares of Dover by 62.1% in the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company's stock worth $552,000 after buying an additional 1,128 shares in the last quarter. Private Advisor Group LLC lifted its stake in shares of Dover by 2.3% in the fourth quarter. Private Advisor Group LLC now owns 9,345 shares of the industrial products company's stock worth $1,753,000 after buying an additional 206 shares in the last quarter. Crestwood Advisors Group LLC lifted its stake in shares of Dover by 1.4% in the fourth quarter. Crestwood Advisors Group LLC now owns 5,279 shares of the industrial products company's stock worth $990,000 after buying an additional 75 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Dover by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,787 shares of the industrial products company's stock worth $2,211,000 after buying an additional 70 shares in the last quarter. Finally, SRN Advisors LLC purchased a new position in shares of Dover in the fourth quarter worth about $228,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Trading Up 1.4%

NYSE DOV opened at $180.09 on Wednesday. The company has a quick ratio of 1.56, a current ratio of 2.13 and a debt-to-equity ratio of 0.36. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The stock has a market capitalization of $24.69 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 1.71 and a beta of 1.27. The firm has a 50 day moving average of $175.62 and a two-hundred day moving average of $183.94.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.99 by $0.06. Dover had a net margin of 28.85% and a return on equity of 19.54%. The company had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter in the previous year, the business posted $1.95 EPS. The firm's revenue was down .9% on a year-over-year basis. As a group, research analysts expect that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a $0.515 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.14%. Dover's dividend payout ratio (DPR) is presently 12.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DOV shares. Barclays raised their price objective on shares of Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Morgan Stanley started coverage on shares of Dover in a research report on Monday, April 14th. They set an "equal weight" rating and a $185.00 price objective for the company. Mizuho raised their price objective on shares of Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Royal Bank Of Canada restated a "sector perform" rating and set a $176.00 price objective on shares of Dover in a research report on Friday, April 25th. Finally, Citigroup cut their price objective on shares of Dover from $244.00 to $201.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Dover presently has an average rating of "Moderate Buy" and an average price target of $208.58.

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.

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