Dover Co. (NYSE:DOV) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Dover Co. (NYSE:DOV) by 7.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,369 shares of the industrial products company’s stock after selling 825 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Dover were worth $1,988,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. increased its holdings in Dover by 162.2% in the 2nd quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock valued at $124,195,000 after purchasing an additional 425,768 shares in the last quarter. Interval Partners LP raised its holdings in shares of Dover by 110.0% during the 2nd quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock valued at $105,216,000 after buying an additional 305,436 shares during the period. FMR LLC lifted its position in Dover by 5.1% during the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after acquiring an additional 149,378 shares in the last quarter. National Bank of Canada FI grew its position in Dover by 313.7% in the third quarter. National Bank of Canada FI now owns 191,127 shares of the industrial products company’s stock valued at $36,647,000 after acquiring an additional 144,930 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new stake in shares of Dover during the second quarter valued at approximately $17,323,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Performance

Dover stock opened at $199.65 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. Dover Co. has a 12 month low of $143.96 and a 12 month high of $208.26. The company has a fifty day moving average price of $197.57 and a two-hundred day moving average price of $187.60. The company has a market cap of $27.39 billion, a PE ratio of 17.86, a P/E/G ratio of 2.70 and a beta of 1.22.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, November 29th. Dover’s dividend payout ratio is presently 18.43%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Mizuho boosted their price target on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research note on Monday, October 28th. Wells Fargo & Company upped their target price on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Finally, The Goldman Sachs Group raised their price target on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $213.91.

About Dover

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.