Kentucky Retirement Systems Has $2.93 Million Stake in Dover Corporation $DOV

Key Points

• Kentucky Retirement Systems increased its Dover stake by 65.2% in the first quarter, bringing its holdings to 14,066 shares valued at approximately $2.93 million. Institutional investors collectively own 84.46% of Dover stock.
• Analysts maintain a generally positive view of Dover, with a “Moderate Buy” consensus rating and an average price target of $238.29. Recent targets range from $230 to $262, although one firm downgraded the stock to “hold.”
• Dover reported quarterly EPS of $2.74, slightly above estimates, while revenue rose 6.8% year over year to $2.19 billion. The company also declared a quarterly dividend of $0.52, equivalent to a 1.0% annualized yield.

Kentucky Retirement Systems grew its stake in Dover Corporation (NYSE:DOV - Free Report) by 65.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,066 shares of the industrial products company's stock after buying an additional 5,553 shares during the period. Kentucky Retirement Systems' holdings in Dover were worth $2,932,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC boosted its position in Dover by 62.1% during the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company's stock worth $552,000 after purchasing an additional 1,128 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Dover by 4.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,377 shares of the industrial products company's stock worth $2,526,000 after buying an additional 676 shares during the period. Empowered Funds LLC grew its stake in Dover by 11.8% in the 1st quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company's stock valued at $2,636,000 after buying an additional 1,580 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Dover in the 2nd quarter worth $488,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Dover during the 2nd quarter worth $1,030,000. 84.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DOV has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on Dover from $210.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 4th. Citigroup restated a "buy" rating on shares of Dover in a research note on Friday, April 24th. Wolfe Research reaffirmed an "outperform" rating and issued a $262.00 target price on shares of Dover in a report on Thursday, July 9th. Oppenheimer lifted their price target on Dover from $242.00 to $250.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Finally, Wall Street Zen cut Dover from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $238.29.

Dover Price Performance

Shares of DOV stock opened at $204.16 on Friday. Dover Corporation has a 12 month low of $158.97 and a 12 month high of $237.54. The company has a market capitalization of $27.50 billion, a P/E ratio of 24.60, a P/E/G ratio of 1.51 and a beta of 1.16. The stock has a 50 day moving average of $214.98 and a two-hundred day moving average of $215.54. 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 (NYSE:DOV - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.72 by $0.02. The business had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.21 billion. Dover had a return on equity of 18.32% and a net margin of 13.48%.Dover's quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.44 earnings per share. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. As a group, equities analysts expect that Dover Corporation will post 10.64 EPS for the current year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a $0.52 dividend. The ex-dividend date was Friday, May 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. Dover's dividend payout ratio is currently 25.06%.

Dover Company Profile

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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