Public Sector Pension Investment Board Has $3.29 Million Stake in Dover Corporation $DOV

Key Points

• The Public Sector Pension Investment Board reduced its stake in Dover Corporation by 57.6%, holding 18,724 shares valued at approximately $3.29 million as reported in its latest SEC filing.
• Several analysts have raised their price targets for Dover, with Citigroup setting a target of $226.00 and Mizuho at $225.00, contributing to an average rating of "Moderate Buy".
• Dover recently declared a quarterly dividend of $0.52, with an annualized yield of 1.2%, reflecting a stable financial position with a low dividend payout ratio of 12.42%.

Public Sector Pension Investment Board decreased its stake in Dover Corporation (NYSE:DOV - Free Report) by 57.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,724 shares of the industrial products company's stock after selling 25,428 shares during the quarter. Public Sector Pension Investment Board's holdings in Dover were worth $3,289,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Fifth Third Wealth Advisors LLC lifted its stake in Dover by 4.0% in the first quarter. Fifth Third Wealth Advisors LLC now owns 1,740 shares of the industrial products company's stock valued at $306,000 after buying an additional 67 shares during the period. Lido Advisors LLC lifted its stake in Dover by 1.4% in the fourth quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company's stock valued at $923,000 after buying an additional 69 shares during the period. Colonial Trust Co SC lifted its stake in Dover by 11.1% in the fourth quarter. Colonial Trust Co SC now owns 720 shares of the industrial products company's stock valued at $135,000 after buying an additional 72 shares during the period. Premier Path Wealth Partners LLC increased its holdings in shares of Dover by 5.5% in the first quarter. Premier Path Wealth Partners LLC now owns 1,538 shares of the industrial products company's stock worth $270,000 after acquiring an additional 80 shares in the last quarter. Finally, First Affirmative Financial Network increased its holdings in shares of Dover by 4.8% in the first quarter. First Affirmative Financial Network now owns 1,834 shares of the industrial products company's stock worth $322,000 after acquiring an additional 84 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DOV shares. Royal Bank Of Canada increased their price target on Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Barclays increased their price target on Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Mizuho increased their price target on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Citigroup restated a "buy" rating and issued a $226.00 price target (up from $202.00) on shares of Dover in a report on Monday, July 14th. Finally, Wells Fargo & Company increased their price target on Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Dover currently has an average rating of "Moderate Buy" and a consensus target price of $213.92.

Dover Stock Up 0.3%

DOV stock opened at $177.08 on Tuesday. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average price of $182.23 and a two-hundred day moving average price of $181.19. The company has a market cap of $24.28 billion, a price-to-earnings ratio of 10.68, a P/E/G ratio of 1.41 and a beta of 1.26. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, beating analysts' consensus estimates of $2.39 by $0.05. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%. The business's revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $2.36 earnings per share. Analysts anticipate that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $0.52 dividend. This is a positive change from Dover's previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, August 29th. Dover's dividend payout ratio is 12.42%.

Dover Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.