State of Michigan Retirement System Sells 200 Shares of Dover Co. (NYSE:DOV)

State of Michigan Retirement System reduced its stake in shares of Dover Co. (NYSE:DOV) by 0.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 37,223 shares of the industrial products company’s stock after selling 200 shares during the period. State of Michigan Retirement System’s holdings in Dover were worth $6,983,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Spire Wealth Management lifted its stake in Dover by 2.1% in the fourth quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock worth $464,000 after purchasing an additional 52 shares during the last quarter. Independent Advisor Alliance lifted its stake in Dover by 0.3% in the third quarter. Independent Advisor Alliance now owns 18,036 shares of the industrial products company’s stock worth $3,458,000 after purchasing an additional 58 shares during the last quarter. ORG Partners LLC lifted its stake in Dover by 5.4% in the fourth quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock worth $214,000 after purchasing an additional 58 shares during the last quarter. Trust Point Inc. lifted its stake in Dover by 3.1% in the fourth quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock worth $367,000 after purchasing an additional 59 shares during the last quarter. Finally, Main Street Financial Solutions LLC lifted its stake in Dover by 2.7% in the third quarter. Main Street Financial Solutions LLC now owns 2,255 shares of the industrial products company’s stock worth $432,000 after purchasing an additional 60 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on DOV shares. UBS Group lowered their price target on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on shares of Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Royal Bank of Canada upped their price objective on shares of Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 price objective (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Finally, Citigroup lowered their price objective on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and an average price target of $218.91.

Dover Price Performance

Shares of NYSE DOV opened at $185.85 on Friday. Dover Co. has a 1 year low of $168.20 and a 1 year high of $222.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The company’s 50-day moving average is $196.00 and its 200 day moving average is $193.61. The stock has a market capitalization of $25.50 billion, a P/E ratio of 9.56, a P/E/G ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, sell-side analysts expect that Dover Co. will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Friday, February 28th. Dover’s dividend payout ratio (DPR) is presently 10.59%.

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.