State of Alaska Department of Revenue Decreases Holdings in Dover Co. (NYSE:DOV)

State of Alaska Department of Revenue trimmed its holdings in shares of Dover Co. (NYSE:DOV) by 11.3% in the first quarter, Holdings Channel reports. The institutional investor owned 25,451 shares of the industrial products company’s stock after selling 3,245 shares during the period. State of Alaska Department of Revenue’s holdings in Dover were worth $4,508,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. AdvisorNet Financial Inc raised its stake in Dover by 783.3% during the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 188 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in Dover during the 4th quarter valued at approximately $33,000. Life Planning Partners Inc purchased a new stake in Dover during the 4th quarter valued at approximately $35,000. Orion Capital Management LLC purchased a new stake in Dover during the 3rd quarter valued at approximately $32,000. Finally, Headinvest LLC purchased a new stake in Dover during the 3rd quarter valued at approximately $32,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on DOV. Barclays upped their price objective on Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Wells Fargo & Company increased their target price on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Citigroup increased their target price on Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Mizuho increased their target price on Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Robert W. Baird increased their target price on Dover from $185.00 to $208.00 and gave the stock 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 issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.75.

Dover Stock Performance

DOV opened at $176.97 on Friday. The stock has a market cap of $24.32 billion, a P/E ratio of 17.00, a P/E/G ratio of 2.15 and a beta of 1.22. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.89. The stock’s 50 day simple moving average is $181.37 and its 200 day simple moving average is $169.10. Dover Co. has a 1-year low of $127.25 and a 1-year high of $188.64.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Dover had a return on equity of 25.04% and a net margin of 17.28%. The company’s revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.94 EPS. As a group, equities analysts anticipate that Dover Co. will post 9.1 EPS for the current fiscal year.

Dover Announces Dividend

The business 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 1.15%. The ex-dividend date of this dividend was Friday, May 31st. Dover’s dividend payout ratio (DPR) is presently 19.60%.

About Dover

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.