Teacher Retirement System of Texas Acquires 33,966 Shares of Dover Corporation (NYSE:DOV)

Teacher Retirement System of Texas increased its stake in Dover Corporation (NYSE:DOV - Free Report) by 10.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 369,655 shares of the industrial products company's stock after buying an additional 33,966 shares during the period. Teacher Retirement System of Texas owned 0.27% of Dover worth $64,941,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Revisor Wealth Management LLC raised its position in Dover by 83.9% during the 1st quarter. Revisor Wealth Management LLC now owns 2,983 shares of the industrial products company's stock worth $524,000 after buying an additional 1,361 shares during the last quarter. DAVENPORT & Co LLC boosted its position in shares of Dover by 29.9% during the 1st quarter. DAVENPORT & Co LLC now owns 5,095 shares of the industrial products company's stock valued at $895,000 after acquiring an additional 1,173 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Dover by 1.2% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,605 shares of the industrial products company's stock valued at $3,796,000 after acquiring an additional 254 shares during the last quarter. Mather Group LLC. boosted its position in shares of Dover by 3.3% during the 1st quarter. Mather Group LLC. now owns 3,086 shares of the industrial products company's stock valued at $542,000 after acquiring an additional 98 shares during the last quarter. Finally, Amalgamated Bank boosted its position in shares of Dover by 0.8% during the 1st quarter. Amalgamated Bank now owns 27,294 shares of the industrial products company's stock valued at $4,795,000 after acquiring an additional 223 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company's stock.

Analyst Upgrades and Downgrades

DOV has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Dover from $190.00 to $211.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Royal Bank Of Canada restated a "sector perform" rating and set a $176.00 target price on shares of Dover in a research note on Friday, April 25th. Morgan Stanley initiated coverage on shares of Dover in a research note on Monday, April 14th. They set an "equal weight" rating and a $185.00 target price on the stock. Wall Street Zen lowered shares of Dover from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Finally, Barclays increased their price objective on Dover from $180.00 to $185.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $206.50.

Dover Stock Performance

Shares of DOV stock traded down $0.93 during trading on Friday, reaching $187.23. The company had a trading volume of 488,787 shares, compared to its average volume of 954,079. The company has a market capitalization of $25.67 billion, a PE ratio of 11.28, a PEG ratio of 1.81 and a beta of 1.26. The firm's 50 day simple moving average is $178.64 and its two-hundred day simple moving average is $183.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.13 and a quick ratio of 1.56. Dover Corporation has a one year low of $143.04 and a one year high of $222.31.

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

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a dividend of $0.515 per share. The ex-dividend date was Friday, May 30th. This represents a $2.06 annualized dividend and a yield of 1.10%. Dover's payout ratio is presently 12.41%.

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.