Kentucky Retirement Systems Insurance Trust Fund Decreases Stake in Dover Co. (NYSE:DOV)

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in Dover Co. (NYSE:DOV) by 7.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,617 shares of the industrial products company’s stock after selling 367 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Dover were worth $818,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in shares of Dover by 153.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after acquiring an additional 1,595,611 shares in the last quarter. LRI Investments LLC acquired a new position in Dover during the first quarter worth approximately $28,000. Toronto Dominion Bank increased its position in Dover by 2.1% during the first quarter. Toronto Dominion Bank now owns 79,143 shares of the industrial products company’s stock worth $14,023,000 after buying an additional 1,643 shares during the period. First Commonwealth Financial Corp PA increased its position in Dover by 8.1% during the first quarter. First Commonwealth Financial Corp PA now owns 3,498 shares of the industrial products company’s stock worth $620,000 after buying an additional 261 shares during the period. Finally, EP Wealth Advisors LLC increased its position in Dover by 0.6% during the first quarter. EP Wealth Advisors LLC now owns 20,683 shares of the industrial products company’s stock worth $3,665,000 after buying an additional 127 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Trading Down 0.1 %

NYSE:DOV traded down $0.13 on Monday, hitting $185.10. 295,837 shares of the stock were exchanged, compared to its average volume of 1,012,809. The stock has a market cap of $25.44 billion, a PE ratio of 17.79, a PEG ratio of 2.24 and a beta of 1.22. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week high of $192.31. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The stock has a fifty day moving average of $181.49 and a 200-day moving average of $172.86.

Dover (NYSE:DOV) last released its earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter last year, the business posted $2.05 EPS. Dover’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts expect that Dover Co. will post 9.13 earnings per share for the current fiscal year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Friday, May 31st. Dover’s dividend payout ratio is presently 19.60%.

Analysts Set New Price Targets

DOV has been the topic of several research analyst reports. Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 price target on shares of Dover in a research report on Monday, July 22nd. Royal Bank of Canada boosted their target price on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Barclays lifted their price target on Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Finally, Oppenheimer lifted their price target on Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.63.

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.