California State Teachers Retirement System increased its position in Dover Corp (NYSE:DOV) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 257,926 shares of the industrial products company’s stock after buying an additional 3,338 shares during the quarter. California State Teachers Retirement System owned about 0.18% of Dover worth $24,905,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Square Asset Management LLC purchased a new position in shares of Dover in the 2nd quarter worth $25,000. Rosenberg Matthew Hamilton purchased a new position in shares of Dover in the 2nd quarter worth $27,000. Ovata Capital Management Ltd purchased a new position in shares of Dover in the 2nd quarter worth $35,000. Smithfield Trust Co. raised its position in shares of Dover by 94.0% in the 2nd quarter. Smithfield Trust Co. now owns 485 shares of the industrial products company’s stock worth $47,000 after buying an additional 235 shares during the period. Finally, Flagship Harbor Advisors LLC raised its position in shares of Dover by 119.1% in the 1st quarter. Flagship Harbor Advisors LLC now owns 515 shares of the industrial products company’s stock worth $43,000 after buying an additional 280 shares during the period. 82.96% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently issued reports on DOV. Zacks Investment Research upgraded Dover from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a report on Thursday, July 16th. Bank of America increased their price target on Dover from $122.00 to $126.00 and gave the company a “buy” rating in a report on Tuesday. Oppenheimer reiterated a “hold” rating on shares of Dover in a report on Tuesday. Morgan Stanley increased their price target on Dover from $107.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Finally, Robert W. Baird upgraded Dover from a “neutral” rating to an “outperform” rating and set a $123.00 price target for the company in a report on Friday, July 17th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $104.50.
NYSE:DOV traded up $1.24 during mid-day trading on Wednesday, reaching $115.22. The stock had a trading volume of 4,279 shares, compared to its average volume of 973,042. The company has a market capitalization of $16.41 billion, a price-to-earnings ratio of 24.91, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42. Dover Corp has a 1-year low of $62.95 and a 1-year high of $120.26. The stock’s 50 day simple moving average is $109.31 and its two-hundred day simple moving average is $96.90. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.32 and a quick ratio of 0.91.
Dover (NYSE:DOV) last posted its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.20. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion. Dover had a return on equity of 27.33% and a net margin of 9.99%. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period last year, the firm earned $1.56 earnings per share. Sell-side analysts anticipate that Dover Corp will post 5.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were paid a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 1.72%. This is an increase from Dover’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Friday, August 28th. Dover’s dividend payout ratio (DPR) is 33.39%.
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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