VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 70,300 Dover Corporation $DOV

Key Points

• The Virginia Retirement Systems purchased 70,300 shares of Dover Corporation, valued at approximately $12.88 million, during the 2nd quarter.
• Research firms have varied outlooks on Dover, with Robert W. Baird raising their price target from $219 to $234, while Wells Fargo reduced it from $195 to $180.
• Dover recently announced a quarterly dividend of $0.52, maintaining a low dividend payout ratio of 12.55%, with a dividend yield of 1.2%.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Dover Corporation (NYSE:DOV - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 70,300 shares of the industrial products company's stock, valued at approximately $12,881,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.05% of Dover as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. North Capital Inc. acquired a new stake in shares of Dover during the first quarter valued at $29,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Dover during the first quarter valued at $31,000. Harbour Investments Inc. boosted its stake in shares of Dover by 51.7% during the second quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 60 shares during the last quarter. Investment Research & Advisory Group Inc. acquired a new stake in shares of Dover during the second quarter valued at $33,000. Finally, Truvestments Capital LLC boosted its stake in shares of Dover by 1,005.9% during the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 171 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on DOV. Robert W. Baird increased their price objective on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Dover in a research note on Wednesday, October 8th. Wells Fargo & Company reduced their target price on Dover from $195.00 to $180.00 and set an "equal weight" rating on the stock in a research report on Monday, October 6th. Royal Bank Of Canada increased their target price on Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Finally, Citigroup reiterated a "buy" rating and set a $226.00 target price (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $212.67.

Dover Stock Performance

Dover stock opened at $166.44 on Monday. The stock's 50-day moving average is $172.60 and its 200-day moving average is $175.43. The company has a market cap of $22.82 billion, a price-to-earnings ratio of 10.04, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $222.31.

Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. The company had revenue of $1.78 billion for the quarter. Dover had a return on equity of 18.19% and a net margin of 29.29%. Equities analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.52 dividend. This is a positive change from Dover's previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. Dover's dividend payout ratio (DPR) is 12.55%.

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.

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