California Public Employees Retirement System Has $44.83 Million Stake in Dover Co. (NYSE:DOV)

California Public Employees Retirement System reduced its position in shares of Dover Co. (NYSE:DOV) by 5.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 238,979 shares of the industrial products company’s stock after selling 13,530 shares during the period. California Public Employees Retirement System owned about 0.17% of Dover worth $44,832,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Life Planners bought a new position in shares of Dover during the fourth quarter worth about $28,000. R Squared Ltd bought a new position in Dover during the 4th quarter worth approximately $34,000. EverSource Wealth Advisors LLC lifted its position in shares of Dover by 79.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 87 shares during the period. Kieckhefer Group LLC bought a new stake in shares of Dover in the 4th quarter valued at $38,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Dover during the fourth quarter worth $46,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. The Goldman Sachs Group increased their price target on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Wells Fargo & Company lifted their target price on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Barclays reduced their price objective on shares of Dover from $213.00 to $205.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. UBS Group dropped their target price on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Finally, Royal Bank of Canada raised their price target on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.18.

Dover Stock Up 1.6 %

Shares of NYSE:DOV opened at $179.23 on Thursday. The stock has a market cap of $24.57 billion, a price-to-earnings ratio of 9.21, a PEG ratio of 2.06 and a beta of 1.24. The business’s 50 day moving average is $192.41 and its 200 day moving average is $193.48. Dover Co. has a 12-month low of $168.20 and a 12-month high of $222.31. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV) last announced its earnings results on Thursday, January 30th. The industrial products company reported $2.20 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 forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.515 per share. The ex-dividend date was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a yield of 1.15%. Dover’s dividend payout ratio (DPR) is currently 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.