Teachers Retirement System of The State of Kentucky Trims Stake in Dover Co. (NYSE:DOV)

Teachers Retirement System of The State of Kentucky trimmed its position in shares of Dover Co. (NYSE:DOV) by 2.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,194 shares of the industrial products company’s stock after selling 322 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Dover were worth $2,020,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Dover by 153.7% during the first 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 purchasing an additional 1,595,611 shares during the period. American Century Companies Inc. increased its stake 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 purchasing an additional 425,768 shares in the last quarter. Wellington Management Group LLP grew its stake in Dover by 50.7% during the 4th quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock valued at $189,433,000 after purchasing an additional 414,481 shares during the last quarter. Interval Partners LP boosted its holdings in Dover by 110.0% in the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock valued at $105,216,000 after purchasing an additional 305,436 shares during the last quarter. Finally, Kimelman & Baird LLC purchased a new position in Dover during the second quarter valued at approximately $17,323,000. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Down 0.4 %

Shares of NYSE:DOV opened at $188.91 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55. The firm’s 50 day moving average price is $183.05 and its 200 day moving average price is $180.58. The stock has a market cap of $25.96 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week high of $194.75.

Dover (NYSE:DOV) last issued its earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.15. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $2.05 EPS. As a group, equities research analysts predict that Dover Co. will post 9.17 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.09%. This is a boost from Dover’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, August 30th. Dover’s payout ratio is presently 19.79%.

Insider Buying and Selling

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of Dover stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,156,700. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the transaction, the chief financial officer now owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,383 shares of company stock valued at $8,169,883 over the last quarter. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

DOV has been the subject of several research reports. Barclays boosted their price objective on Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Mizuho boosted their price target on shares of Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Wells Fargo & Company increased 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. Robert W. Baird restated an “outperform” rating and set a $208.00 price target on shares of Dover in a research note on Monday, July 22nd. Finally, Royal Bank of Canada raised their target price on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and an average target price of $194.00.

Dover Company 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.