New York State Teachers Retirement System Decreases Position in Dover Corporation (NYSE:DOV)

New York State Teachers Retirement System cut its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 137,014 shares of the industrial products company's stock after selling 4,000 shares during the period. New York State Teachers Retirement System owned 0.10% of Dover worth $24,071,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of DOV. EverSource Wealth Advisors LLC grew its holdings in shares of Dover by 79.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock worth $37,000 after buying an additional 87 shares during the last quarter. Orion Capital Management LLC purchased a new stake in shares of Dover during the fourth quarter worth approximately $43,000. Mainstream Capital Management LLC acquired a new stake in shares of Dover during the fourth quarter worth $61,000. Ameriflex Group Inc. purchased a new position in Dover in the 4th quarter valued at $69,000. Finally, SBI Securities Co. Ltd. acquired a new position in Dover in the 4th quarter valued at $75,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on DOV shares. Robert W. Baird reduced their target price on Dover from $238.00 to $219.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Barclays raised their price objective on shares of Dover from $180.00 to $185.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Wall Street Zen cut shares of Dover from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Royal Bank Of Canada reissued a "sector perform" rating and set a $176.00 price target on shares of Dover in a research note on Friday, April 25th. Finally, Wells Fargo & Company raised their price objective on Dover from $180.00 to $190.00 and gave the company an "equal weight" rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Dover presently has an average rating of "Moderate Buy" and a consensus price target of $206.50.

Dover Trading Up 1.1%

Shares of NYSE:DOV traded up $2.07 during trading on Wednesday, reaching $188.23. The stock had a trading volume of 779,126 shares, compared to its average volume of 954,173. The company has a quick ratio of 1.56, a current ratio of 2.13 and a debt-to-equity ratio of 0.36. The stock has a market cap of $25.81 billion, a P/E ratio of 11.34, a PEG ratio of 1.76 and a beta of 1.26. The business has a fifty day moving average price of $177.85 and a 200-day moving average price of $183.31. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31.

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

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Friday, May 30th. Dover's payout ratio is 12.41%.

About Dover

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.