New York State Teachers Retirement System Has $22.70 Million Stock Position in Dover Corporation $DOV

Key Points

• New York State Teachers Retirement System reduced its stake in Dover by 4.6% to 116,258 shares, worth approximately $22.70 million.
• Dover reported quarterly EPS of $2.28 (beat by $0.01) with revenue of $2.05 billion (below estimates but up 10.1% y/y) and set FY 2026 guidance of $10.45–$10.65 EPS (consensus ~10.64).
• Company insiders sold 82,497 shares over the past three months, including CEO Richard J. Tobin's sale of 76,997 shares for about $17.9 million, reducing his ownership by 26.1%.

New York State Teachers Retirement System reduced its stake in shares of Dover Corporation (NYSE:DOV - Free Report) by 4.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 116,258 shares of the industrial products company's stock after selling 5,564 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Dover worth $22,698,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DOV. Machina Capital S.A.S. lifted its position in Dover by 91.8% during the third quarter. Machina Capital S.A.S. now owns 16,834 shares of the industrial products company's stock valued at $2,808,000 after purchasing an additional 8,055 shares during the last quarter. Generali Asset Management SPA SGR lifted its position in Dover by 103.4% during the third quarter. Generali Asset Management SPA SGR now owns 16,020 shares of the industrial products company's stock valued at $2,673,000 after purchasing an additional 8,145 shares during the last quarter. SG Americas Securities LLC lifted its position in Dover by 1,644.9% during the third quarter. SG Americas Securities LLC now owns 26,749 shares of the industrial products company's stock valued at $4,463,000 after purchasing an additional 25,216 shares during the last quarter. Federated Hermes Inc. lifted its position in Dover by 17.3% during the third quarter. Federated Hermes Inc. now owns 43,300 shares of the industrial products company's stock valued at $7,224,000 after purchasing an additional 6,399 shares during the last quarter. Finally, Cerity Partners LLC lifted its position in Dover by 34.4% during the third quarter. Cerity Partners LLC now owns 91,061 shares of the industrial products company's stock valued at $15,192,000 after purchasing an additional 23,298 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Trading Down 0.2%

Shares of DOV opened at $225.92 on Friday. The firm has a market cap of $30.42 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 1.72 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.32 and a current ratio of 1.87. Dover Corporation has a fifty-two week low of $158.97 and a fifty-two week high of $237.54. The firm has a 50 day moving average price of $216.25 and a 200-day moving average price of $202.91.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share for the quarter, topping analysts' consensus estimates of $2.27 by $0.01. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.19 billion. Dover had a net margin of 13.30% and a return on equity of 18.01%. The business's quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.05 EPS. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. As a group, equities research analysts forecast that Dover Corporation will post 10.64 earnings per share for the current year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, February 27th. Dover's payout ratio is presently 25.94%.

Insider Buying and Selling

In related news, CEO Richard J. Tobin sold 76,997 shares of Dover stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $232.70, for a total value of $17,917,201.90. Following the transaction, the chief executive officer directly owned 217,979 shares of the company's stock, valued at $50,723,713.30. The trade was a 26.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Ivonne M. Cabrera sold 4,000 shares of Dover stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total transaction of $932,920.00. Following the completion of the transaction, the senior vice president directly owned 72,188 shares in the company, valued at approximately $16,836,407.24. The trade was a 5.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 82,497 shares of company stock valued at $19,196,277 over the last three months. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on DOV. Oppenheimer lifted their target price on shares of Dover from $242.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Citigroup reiterated a "buy" rating on shares of Dover in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $229.00 target price on shares of Dover in a research report on Friday, April 24th. Weiss Ratings upgraded shares of Dover from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, March 6th. Finally, Wall Street Zen upgraded shares of Dover from a "hold" rating to a "buy" rating in a report on Sunday. Nine research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $237.36.

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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