Kentucky Retirement Systems Trims Stock Holdings in Dover Co. (NYSE:DOV)

Kentucky Retirement Systems lessened its holdings in shares of Dover Co. (NYSE:DOV) by 7.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,576 shares of the industrial products company’s stock after selling 780 shares during the period. Kentucky Retirement Systems’ holdings in Dover were worth $1,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its stake in Dover by 153.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock valued at $466,622,000 after acquiring an additional 1,595,611 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Dover by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock valued at $271,702,000 after buying an additional 60,912 shares during the period. American Century Companies Inc. boosted its holdings in Dover by 162.2% during 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 acquiring an additional 425,768 shares during the period. Interval Partners LP grew its position in Dover by 110.0% in the 2nd quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock valued at $105,216,000 after acquiring an additional 305,436 shares in the last quarter. Finally, Earnest Partners LLC increased its stake in Dover by 31.5% during the first quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock worth $70,370,000 after purchasing an additional 95,056 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Royal Bank of Canada boosted their price target on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Barclays increased their target price on shares of Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company upped their price objective on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Finally, Oppenheimer reissued an “outperform” rating and issued a $215.00 price target (up from $210.00) on shares of Dover in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus target price of $208.40.

Dover Stock Performance

Dover stock opened at $201.18 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. The company has a market capitalization of $27.60 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 2.70 and a beta of 1.22. Dover Co. has a fifty-two week low of $136.50 and a fifty-two week high of $204.93. The stock has a fifty day moving average of $191.53 and a two-hundred day moving average of $184.76.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.02%. Dover’s dividend payout ratio (DPR) is presently 18.43%.

Insider Activity

In related news, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the transaction, the chief executive officer now directly owns 182,928 shares in the company, valued at approximately $33,285,578.88. This represents a 12.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the transaction, the senior vice president now directly owns 47,060 shares in the company, valued at approximately $8,706,100. This represents a 2.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,042 shares of company stock valued at $7,368,578 over the last 90 days. Insiders own 1.30% of the company’s stock.

Dover 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.